International Visitors Spent Nearly $20.1 Billion Traveling Within the United States in March
National Travel and Tourism Office (NTTO) | May 23, 2024
CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16, 2024
Market Reports
U.S. Travel Reacts to Border Security Executive Order
U.S. Travel Association | January 26, 2017
WASHINGTON (January 26, 2017)—U.S. Travel Association President and CEO Roger Dow issued the following statement: "Without security there can be no travel, and the American travel community strongly supports efforts to ensure all of the country's entry points are secure. For that reason, we urge the administration to devote a significant percentage of the proposed 5,000 new border security officers to our air and sea ports of entry to ensure all travelers are vetted appropriately and effectively. "The U.S. Travel Association will be releasing a Secure Travel Enhancement Plan in the coming days to highlight the need f...
HVS Market Pulse: Why Aren’t Hotels Being Built in Ski Towns?
Brett E. Russell | January 26, 2017
By Brett E. Russell In ski resort towns across the U.S. and Canada, a large and growing number of people are hitting the slopes. In the 2015/16 ski season alone, total skier visits approached 64 million, an increase of about 1.9 million skiers from the previous season. The most recent performance is still about 3.6 million skier visits lower than the peak season of 2010/11, showing that the industry has room for even more growth. Yet despite the climbing numbers and the continued potential for growth, few ski resorts have realized an increase in their bed base. The limited supply increases have come in the form of fractions or timeshare...
US Hotel Value Gains Moderate as RevPAR Growth Slows and Cap Rates Rise
Suzanne R. Mellen | January 25, 2017
By Suzanne R. Mellen Hotel investment activity experienced a bumpy ride in 2016. With a slowdown in RevPAR growth, a stalled CMBS market, and concerns about increased supply, cap rates rose and deal activity slowed. The year ended on a positive note as lodging REIT stocks rallied and economic growth is projected to strengthen. This article, which is published biennially, discusses trends in hotel capitalization rates and provides an outlook for 2017. Following exceptionally strong hotel transaction activity in 2015, the market stalled in the first quarter of 2016 and then rebounded, ending the year with a healthy level of transactions, ...
revcaster by Rainmaker Partners with StayNTouch and TrustYou for Hotel Management Strategy Webinar
Rainmaker | January 24, 2017
Online discussion will cover topics related to guest engagement, revenue management and guest reviews ALPHARETTA, GA – January 24, 2017 – revcaster, a Rainmaker Group company, is partnering with StayNTouch and TrustYou in an upcoming webinar entitled "3 Essential Pieces to Your Hotel Management Strategy." The online discussion will address multiple topics on how hotels can increase guest engagement, improve revenue management and enhance guest reviews. The webinar will take place on February 1, 2017 at 1:00 p.m. EST (10 a.m. PST/6 p.m. GMT) and there is no cost to participate. Since a hotel's bottom line is directly impacted...
International Sporting Events – Takeaways for Hotel Investors
Tshepo B Makhudu | January 24, 2017
By Tshepo B Makhudu There is no doubt hosting a major sporting event boosts the profile of the country and city. Who does not want to visit Rio after the recent FIFA World Cup and Olympics? However, these events are only for a few weeks and even allowing for a year of visits from sponsors and managers in the lead up to the event and the boost to demand once the curtain comes down and the television cameras depart, does hosting an international sporting event justify building new hotels? In this article, we review the possible impact of hosting the Commonwealth Games on the city of Durban and provide some advice for would be hotel invest...
Cornell Study on Labor Law: When Rules Are Made to Be Broken: The Case of Sexual Harassment Law
the Cornell Institute for Hospitality Labor and Employment Relations | January 23, 2017
Ithaca, NY, January 23, 2017 - Courts across the United States are in a potentially awkward position when they are presented with employers' summary judgment motions relating to sexual harassment. As explained in a new Cornell report, judges often have to choose between following legal precedent or breaking the rule established by the Supreme Court. As explained in the report, "When Rules Are Made to Be Broken: The Case of Sexual Harassment Law," by David Sherwyn, Nicholas F. Menillo, and Zev J. Eigen, the courts often choose to break the rules. Sherwyn is a professor of law at the Cornell School of Hotel Administration and director of ...
Travel Industry Will Be ‘Eager Partner’ to Trump Administration According to Roger Dow
U.S. Travel Association | January 23, 2017
WASHINGTON (January 23, 2017)—U.S. Travel Association President and CEO Roger Dow issued the following statement on the inauguration of 45th U.S. president Donald J. Trump: "On behalf of the U.S. travel and tourism community, I would like to welcome President Trump to the White House. During the campaign and since the election, President Trump emphasized a number of issues for which the American travel community shares his enthusiasm: infrastructure, domestic jobs and the U.S. trade balance. As it happens, all of our longstanding policy priorities align perfectly with that agenda. "The president clearly understands the e...
Online Travel Market is Estimated to Generate Over $1 Trillion Globally by 2022
Allied Market Research | January 19, 2017
PORTLAND, Oregon and PUNE, India, January 19, 2017 -- A new report published by Allied Market Research, titled, "Online Travel Market by Mode of Booking (Online Travel Agencies and Direct Travel Suppliers), Types of Platform (Mobile and Desktop), Service Types (Transportation, Travel Accommodation, and Vacation Packages), and Age Group (22-31, 32-43, 44-56, and >56): Global Opportunity Analysis and Industry Forecast, 2014-2022", projects that the global online travel market is estimated to reach $1,091 billion by 2022. Asia-Pacific is expected to witness the highest growth during the forecast period. Direct travel suppliers...
Red-Hot Growth in an Ice-Cold Land: An Overview of Iceland’s Hotel Market
Stephen Collins | January 16, 2017
By Stephen Collins Introduction Since the eruption of the volcano Eyjafjallajökull in 2010, Iceland has seen an incredible boom in tourism with growth rates unmatched anywhere else in Europe. Media coverage of the eruption brought increased awareness of the natural beauty of the remote nation which, when coupled with the severe decline in the Icelandic krona compared to other major currencies after the financial crisis, led to an unforeseen explosion in tourism of volcanic proportions. With the growth in hotels unable to keep pace with the record number of tourists visiting the country, Airbnb and similar companies have flourished....
HVS Market Pulse: Salt Lake City, Utah
Katy Black | January 13, 2017
By Katy Black , Ryan Mark Salt Lake City, Utah's capital and most populous city, dates its founding back to 1847. Since then, the city has realized a course of evolutions, some of which are currently underway. These include infrastructural developments such as pivotal transcontinental highways (earning Salt Lake City its designation as the Crossroads of the American West), ascension to the international stage through events such as the 2002 Winter Olympics, and hundreds of millions of dollars in business and commercial expansions, including the current planning for the city's northwest quadrant. The following HVS Market Pulse article lo...
HVS Market Pulse: San Francisco, CA
Katie Minnock | January 12, 2017
By Katie Minnock, Suzanne R. Mellen San Francisco is a major hub for employment in the high-tech and financial sectors, and is revered both as a tourist destination and as a gateway to the Asia Pacific region. In addition, San Francisco is home to the Moscone Center, which is currently undergoing a $500-million renovation and expansion. As such, the city draws a balanced mix of commercial, meeting and group, and leisure guests. San Francisco's hotel stock is primarily clustered in five loosely defined districts near demand generators: Union Square and the Financial District, which although different submarkets, primarily play host to fu...
Travel Trends Index: Does a “Trump Bump” Get Credit for Surging Travel Forecasts?
U.S. Travel Association | January 10, 2017
Domestic business travel accelerates post-election, defying expectations; all sectors exceed six-month growth average WASHINGTON (January 10, 2017)—The first monthly Travel Trends Index (TTI) to encompass post-election data signals a strong showing by the travel sector in the wake of Donald J. Trump's unexpected win last November. All travel sectors grew at rates significantly above their six-month moving averages, according to the TTI—with notable, unanticipated growth in domestic business travel. "Although we are optimistic about the prospects for travel under the new administration, frankly we were prepared to se...
CBRE Issues U.S. Lodging Forecast, Particularly for Historic Hotels of America
CBRE Hotels | January 5, 2017
Historic hotels achieve a substantial premium in ADR and REVPAR over comparable contemporary hotels. WASHINGTON, DC – January 5, 2017- The outlook for the U.S. lodging industry, particularly historic hotels, continues to be extremely strong, according to CBRE Hotels' Americas Research (CBRE). For the third consecutive year, CBRE Hotels' Americas Research presented a Historic Hotels of America – CBRE five-year forecast at the Historic Hotels of America annual conference. CBRE relies on historical hotel performance data from STR, and economic forecasts from CBRE Economic Advisors, to prepare its lodging forecasts. Key points p...
North American Hoteliers Prepare for Strong Q1 with Healthy Rate and Occupancy Gains
TravelClick | January 4, 2017
Hotel Performance Encouraging Heading into 2017 NEW YORK – January 4, 2017 – North American hoteliers are eager to ring in the New Year, according to new data from TravelClick's December 2016 North American Hospitality Review (NAHR). All travel segments are experiencing healthy rate and occupancy gains year-over-year, with occupancy increasing 5.0 percent and average daily rates (ADR) increasing 3.2 percent in the first quarter of 2017. The last quarter of 2016 shows positive, but tepid, growth across the board, with the group and transient leisure segments experiencing strong revenue per available room (RevPAR) growth at 2....
Hotel Construction Pipeline in Latin America is Steady with 892 Projects, Up 3 Percent YOY
Lodging Econometrics | December 28, 2016
December 28, 2016 – PORTSMOUTH, NH - According to the recent Construction Pipeline Trend Report for Latin America from Lodging Econometrics (LE), the region has 892 Projects/151,203 Rooms, up 3% by projects and down 1% by rooms Year-Over-Year (YOY). For hotels currently Under Construction, the Latin America Pipeline has 410 Projects/70,564 Rooms, down 1% by projects and 6% by rooms YOY. There are 182 Projects/31,255 Rooms Scheduled to Start Construction in the Next 12 Months, up 3% by projects and 2% rooms. Projects in Early Planning, 300 Projects/49,384 Rooms, are up 8% by projects and 5% by rooms. The three cities with the large...
Miami: A Global City
Shiv Ariyakula | December 28, 2016
By Shiv Ariyakula, CFA The terms "global city," "world city," "top-tier city," and "alpha city" have been used to describe a metropolitan center that acts as a key node in the global economic system. Global cities are well known to travelers worldwide, with notable urban designs and cultural attractions, major commercial centers, and diverse economic underpinnings generating interest, investment, visitation, and acclaim. Miami has long been a city of great fame, and in the past decade, the diversity of Miami's industries and economy has made it a veritable alpha city, as well. Miami ranked 30th in the 2016 Global Cities Index (GCI) surv...
Marriott Takes Top Spot Leading Franchise Companies in Global Hotel Construction Pipeline with 2,021 Projects
Lodging Econometrics (LE) | December 27, 2016
December 27, 2016 – PORTSMOUTH, NH Analysts at Lodging Econometrics (LE) report that the four leading franchise companies in the Global Hotel Construction Pipeline by project-count are: Marriott International with 2,021 Projects/347,544 Rooms, Hilton Worldwide with 1,733 Projects/267,788 Rooms, InterContinental Hotels Group (IHG) with 1,343 Projects/207,806 Rooms and Choice Hotels with 487 Projects/43,381 Rooms. The leading brand for each of these top Global franchise companies are: IHG's Holiday Inn Express with 607 Projects/73,584 Rooms, Hilton's Hampton Inn with 478 Projects/55,737 Rooms, Marriott's Fairfield Inn with 299 Proje...
New York City Takes Top City in the Global Hotel Construction Pipeline Trend Report with 190 Projects
Lodging Econometrics (LE) | December 22, 2016
December 22, 2016 – PORTSMOUTH, NH According to the Global Hotel Construction Pipeline Trend Report published by Lodging Econometrics (LE), the top Global cities with the largest pipelines by project-count are: New York City with 190 Projects/31,194 Rooms, Houston with 169 Projects/19,885 Rooms, Seoul with 159 Projects/31,233 Rooms, Dallas with 131 Projects/15,819 Rooms, and Nashville with 123 Projects/15,743 Rooms. Jakarta with 20,885 rooms and Dubai with 33,053 rooms both have 118 projects, followed by Shanghai with 109 Projects/22,071 Rooms. ...
Dubai Tops List for Largest Construction Pipeline in Middle East with 110 Projects /31,555 Rooms
Lodging Econometrics | December 21, 2016
December 21, 2016 – PORTSMOUTH, NH – According to the recent Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE), the total pipeline has 513 Projects/136,683 Rooms, up 21% by projects and 6% by rooms Year-Over-Year (YOY). For hotels currently Under Construction, the Middle East Pipeline has 298 Projects/81,169 Rooms, up 28% by projects and 6% by rooms YOY. There are 108 Projects/25,783 Rooms Scheduled to Start Construction in the Next 12 Months, up 23% by projects and 20% by rooms. Projects in Early Planning, 107 Projects/29,731 Rooms, are up 3% by projects and down 3% by rooms. The three ci...
Knowing Makes No Difference to Sleeping Giants
Mark Keith | December 21, 2016
By Mark Keith Following the 2008 global financial crisis, one Chinese businessman observed, "With the best and brightest from the top business schools and advice from top consulting firms, the Western companies still didn't see the crash coming". Actually, some did, but simply knowing makes no difference. Those who suspected the looming financial disaster took no action. Knowledge is meaningless if no action occurs as a result of "knowing". A good example is when, in mid-career, employees earn MBA degrees with honors for career advancement. It makes no tangible difference and adds no real value to the company if those graduates return t...
Global Hotel Construction Pipeline Shows Modest Growth, Up 6 Percent by Projects YOY
Lodging Econometrics (LE) | December 21, 2016
December 21, 2016 – PORTSMOUTH, NH The Total Global Pipeline has 11,547 Projects/1,953,784 Rooms, up 6% by projects and 4% by rooms Year-Over-Year (YOY) according to the recent Global Construction Pipeline Trend Report from Lodging Econometrics (LE), who tabulates the Construction Pipeline and Census with complete ownership detail for 196 countries worldwide. For hotels currently Under Construction, the Global Pipeline has 5,417 Projects/1,008,948 Rooms, both within 1% of last year's Total. However, there are 3,514 Projects/504,938 Rooms Scheduled to Start Construction in the Next 12 Months, up 22% by projects and 19%...
Special Edition of Lodging Insights: Federal Reserve Rate Increase
CBRE | December 20, 2016
Mark Woodworth and Jack Corgel give their reaction to the Federal Reserve's rate increase and share their opinion on what it means for the lodging industry. The Federal Funds rate lies on the front end of the yield curve. Changes in this rate resulting from direct actions by the Federal Reserve affect changes in other short-term interest rates by similar magnitudes. Rates further out on the curve however are less responsive to changes in the Federal Funds rate, a situation Chairman Alan Greenspan who was once frustrated by this unresponsiveness described as an 'interest rate conundrum'. Other monetary policy methods can be introduced to...
U.S. Hotel Spas: A Great Source of Revenue
CBRE Group, Inc. | December 14, 2016
New York – December 14, 2016 – In 2015, hotel spa department revenue grew at a faster pace compared to other sources of hotel revenue. According to the recently released 2016 edition of Trends® in the Hotel Spa Industry, U.S. hotel spa departments were able to increase their revenue by 5.6 percent from 2014 to 2015. This compares favorably to a 3.3 percent rise in rooms revenue for the properties in the survey sample, and a 5.5 percent increase in total hotel revenue. This is the first time since the 2007 edition of the publication that spa revenue growth surpassed rooms revenue growth. "CBRE Hotels' Americas Research is...
U.S. Travel Association’s CEO, Roger Dow: Travel Community Looks Forward to Working with General John Kelly, DHS Nominee
U.S. Travel Association | December 13, 2016
WASHINGTON (December 13, 2016)—U.S. Travel Association President and CEO Roger Dow issued the following statement on news that President-elect Trump will nominate General John Kelly for Secretary of Homeland Security: "The U.S. travel community looks forward to working with Gen. Kelly on smart, effective measures to protect our country's citizens and travelers. "Without security, there can be no travel. Thankfully, our industry has fostered strong relationships at the Department of Homeland Security since the agency's inception, with secretaries of all political stripes. Each DHS leader, from Tom Ridge and Michae...
