Using the Labor Data from Hotel Effectiveness to Minimize Costs and Turnover
Adam and Larry Mogelonsky | January 11th, 2023
Four Creatively Destructive Forces for the Hotel Industry
Larry and Adam Mogelonsky | July 13th, 2022
STR: U.S. Hotel Results for Week Ending 26 March
STR | March 31, 2022
HENDERSONVILLE, Tennessee — March 31, 2022 — With lower Spring Break travel volume, U.S. hotel performance dipped slightly from the previous week, according to STR‘s latest data through 26 March. 20-26 March 2022 (percentage change from comparable week in 2019*): Occupancy: 65.5% (-5.5%) Average daily rate (ADR): US$149.38 (+13.5%) Revenue per available room (RevPAR): US$97.92 (+7.3%) The weekly ADR level was the third highest for any week on record, behind the previous week ending 19 March and the week of Christmas in 2021. While none of the Top 25 Markets showed an occup...
How Business Model Innovation Can Boost SMEs in Times of Crisis
Dr Margarita Cruz | March 29, 2022
By Dr. Margarita Cruz SMEs reacted to the Covid pandemic in different ways. Some decided to introduce innovative dimensions to previously existing business models in the hope for survival, whereas others preferred not to mess with the formula for fear of upsetting post-crisis brand identity. The research suggests that creating new business models based on external resources, collaborations and entrepreneurial thinking can result in a winning resource in crisis times. SMEs in crisis It’s been exactly two years since we first experienced the first wave of lockdowns in Switzerland due to the COVID-19 pandemic. Back the...
The 3 Key Trends in Q4 for Travelers in Europe, the Middle East, and Africa
Myriam Younes | March 28, 2022
By Myriam Younes Our most recent Travel Recovery Trend Report explains how the travel industry and travelers alike demonstrated their resilience in Q4 when faced with unpredictable pandemic circumstances, such as the emergence of Omicron. We recently shared our takeaways for the North American (NORAM), Asia Pacific (APAC), and Latin American (LATAM) markets. Here we look in more detail at the story of the quarter for travelers based in Europe, the Middle East, and Africa (EMEA) region. 1. Omicron Had an Impact, But the Recovery Continued On the face of it, it appears that the arrival of Omicron did dampen interes...
Tourism Enjoys Strong Start to 2022 While Facing New Uncertainties
UNWTO | March 25, 2022
International tourism continued its recovery in January 2022, with a much better performance compared to the weak start to 2021. However, the Russian invasion of Ukraine adds pressure to existing economic uncertainties, coupled with many Covid-related travel restrictions still in place. Overall confidence could be affected and hamper the recovery of tourism. Based on the latest available data, global international tourist arrivals more than doubled (+130%) in January 2022 compared to 2021 - the 18 million more visitors recorded worldwide in the first month of this year equals the total increase for the whole of 2021. While the...
In Focus: Singapore
Hok Yean CHEE | March 25, 2022
By Hok Yean CHEE Key Highlights in 2021 The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of an estimated 714.3 square kilometres. It is situated at the southern tip of the Malayan Peninsula, between Malaysia and Indonesia. With an economy supported by its population of approximately 5.45 million people, Singapore has witnessed consistent economic growth throughout the years and is prominent in the financial services, energy and infrastructure, biotechnology and tourism, medical tourism and information and communications technologies. Source: Pexels Due...
The Current State of the Hospitality Industry: Transitional & Ever Evolving
Ken Shanley | March 25, 2022
By Ken Shanley Declaring that the COVID epidemic has profoundly change the hospitality has quickly become a hackneyed cliché – nonetheless, one that is undeniably true. It will take years before we, as an industry, can fully unravel and appreciate the implications and impact of all these changes on hoteliers. Now, as we move from pandemic into the endemic phase of the health crisis, demand is quickly picking up and hotels are returning to full operational capacity. It may feel as if things are returning to “normal,” the outside but, it’s anything but “normal” on the inside. Hotels are dealing with ongoing staffing shortages, ris...
STR: U.S. Hotel Results for Week Ending 19 March
STR | March 24, 2022
HENDERSONVILLE, Tennessee — March 24, 2022 — Lifted by Spring break travel, U.S. hotel performance rose from the previous week and showed improved comparisons against 2019, according to STR‘s latest data through 19 March. 13-19 March 2022 (percentage change from comparable week in 2019*): Occupancy: 66.9% (-3.7%) Average daily rate (ADR): US$151.63 (+13.6%) Revenue per available room (RevPAR): US$101.44 (+9.5%) The weekly occupancy level was the highest since the week ending 7 August 2021, while ADR was the second highest for any week on record. Among the Top 25 Markets, Miami sho...
Canada Hotel Performance Rose in February Amid Loosened Restrictions
STR | March 23, 2022
HENDERSONVILLE, Tennessee — March 23, 2022 — Canada’s hotel industry reported higher performance from the month prior, along with better indexed comparisons with 2019, according to STR’s February 2022 data. February 2022 (percentage change from February 2019) Occupancy: 44.0% (-25.1%) Average daily rate (ADR): CAD144.83 (-3.4%) Revenue per available room (RevPAR): CAD63.75 (-27.7%) “Canada’s hotel performance improved significantly month over month, as COVID cases fell and gathering restrictions were loosened,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada. CoStar Grou...
CBRE Forecasts Continued Hotel Recovery in 2022 Despite Increasing Risks
CBRE Group, Inc. | March 21, 2022
Dallas, TX – March 21, 2022 – CBRE Hotels Research has raised its forecast for 2022 average daily rate (ADR), Occupancy and Revenue per available room (RevPAR) to reflect the stronger-than-expected fundamental performance in the fourth quarter. Other factors contributing to the improvement include below-average supply growth, strong domestic leisure trends, the resumption of inbound international travel and a predicted return to office later this year. CBRE made the changes despite heightened uncertainty and increasingly limited visibility due to geopolitical risks and inflationary pressure. CBRE now forecasts RevPAR to reach 2019 no...
U.S. Road Trips Exceed Pre-Pandemic Levels for the First Time
Arrivalist | March 21, 2022
NEW YORK - March 21, 2022 - Despite rising gas prices and inflation, U.S. road trips have risen above pre-pandemic levels according to Arrivalist, the leading location intelligence platform in the travel industry. As spring break travel nears, for the first time in its two-year history, the 28-day rolling average of Arrivalist's Daily Travel Index peaked above 2019 levels. "We built the Daily Travel Index to help the industry track the pulse of travel's return," says Arrivalist founder and CEO Cree Lawson. "We created the product for a momentous day like today. Is this a tipping point? Can travel hold out? Ti...
STR: U.S. Hotel Performance for February 2022
STR | March 21, 2022
HENDERSONVILLE, Tennessee — March 21, 2022 — The U.S. hotel industry reported higher performance than the month prior, along with better indexed comparisons with 2019, according to February 2022 data from STR. February 2022 (percentage change from February 2019): Occupancy: 56.9% (-8.2%) Average daily rate (ADR): US$137.39 (+6.8%) Revenue per available room (RevPAR): US$78.24 (-1.9%) On a nominal basis, the country’s ADR level was the highest for any month since August 2021. When adjusted for inflation, the February ADR level was roughly 5% below the 2019 comparable. Among the Top 25 Markets, Miami exper...
CBRE Forecasts Continued Hotel Recovery in 2022 Despite Increasing Risks
CBRE Group | March 17, 2022
Dallas, TX – March 17, 2022 – CBRE Hotels Research has raised its forecast for 2022 average daily rate (ADR), Occupancy and Revenue per available room (RevPAR) to reflect the stronger-than-expected fundamental performance in the fourth quarter. Other factors contributing to the improvement include below-average supply growth, strong domestic leisure trends, the resumption of inbound international travel and a predicted return to office later this year. CBRE made the changes despite heightened uncertainty and increasingly limited visibility due to geopolitical risks and inflationary pressure. CBRE now forecasts RevPAR to reach 2019 no...
STR: U.S. Hotel Results for Week Ending 12 March
STR | March 17, 2022
HENDERSONVILLE, Tennessee — March 17, 2022 — Overall U.S. hotel performance increased from the previous week, according to STR‘s latest data through 12 March. 6-12 March 2022 (percentage change from comparable week in 2019*): Occupancy: 63.2% (-9.8%) Average daily rate (ADR): US$144.68 (+7.7%) Revenue per available room (RevPAR): US$91.45 (-2.8%) While none of the Top 25 Markets showed an occupancy increase over 2019, Miami came closest to its 2019 comparable (-4.7% to 84.1%). San Francisco/San Mateo experienced the largest occupancy decrease from 2019 (-29.7% to 56.3%). Anahe...
Group Business and Corporate Meetings on the Rise – Is Your Hotel Ready?
Ryan Hamilton | March 15, 2022
By Ryan Hamilton It’s no secret that hospitality’s path to recovery has been a long and challenging road. If 2020 was the year that travel came to a grinding halt, 2021 was the year of cautious optimism as hoteliers waited with bated breath for a return to relative normalcy. The industry was braced for a comeback, eagerly awaiting the first rush of excited travelers to spill off the airport tarmac and back into the welcoming arms of global hotel brands. Staff was welcomed back, amenities reopened, lobbies and guest rooms were pristine, processes were reformed, and soon enough, leisure travel became the industry’s beacon of hope. O...
Israel’s Tourism Sector Ready for Recovery With Further Hotel Investment Encouraged, Hears Dubai Expo Event
HVS | March 15, 2022
London - March 15, 2022 - The Israel Ministry of Tourism in collaboration with global hotel consultancy HVS, presented a live event last week at Expo Dubai focussing on hotel opportunities in Israel during which senior representatives of hotel, real estate and tourism companies – investors, developers, operators and financiers – discussed encouraging more investment into Israel’s hotel sector. The event, further strengthening trade, investment and tourism ties between Israel and the UAE, opened with minister of tourism Yoel Razvozov outlining the importance of tourism to Israel’s economy. Fleur Hassan-Nahoum, deputy mayor of Jer...
Q4 Travel Recovery Trend Report: The Highlights Analyzed
Richard Kocher | March 14, 2022
By Richard Kocher Expedia Group Media Solutions recently published the Travel Recovery Trend Report for Q4, which details many of the latest insights on the industry’s continued recovery from the pandemic, as identified in Expedia Group’s exclusive first-party data. Here, Richard Kocher, who leads Media Solutions’ data insights and planning team, gives his expert take on these latest findings for 2022 and beyond. Experience is Everything That is the thought-provoking message delivered by Ewan McGregor in Expedia’s recent high-profile Super Bowl ad. Having recently returned from a family ski trip in France...
Market Recovery Monitor as of 5 March 2022
STR | March 11, 2022
U.S. hotel weekly occupancy slipped a bit in the most recent week of reporting (27 February-5 March 2022), falling to 61.2% from 62.2% the week prior. While all attention is focused on rising gas prices and the potential impact on hotel demand, this week’s decrease was due to a weaker Sunday as the previous Sunday benefited from the Presidents’ Day holiday. Excluding Sunday, occupancy for the remaining six days reached 63.2%, the highest six-day result in the country since mid-November. Average daily rate (ADR) declined 4.2% post-holiday, but the absolute level remained above where it was in the comparable week of 2019. Revenue per avail...
Airline Employees Boost Hotel Recovery as Properties Seek to Fill Rooms Vacated by Business Travelers in 2022
ID90 Travel | March 9, 2022
Airline Non-Rev Travelers are Forecast to Book more than nearly $500 Million in Hotel Revenue in 2022, According to Specialist ID90 Travel - and the Bookings Are Targeted to Build Revenues Where and When Hotels Need Them Most DALLAS, TX – March 9, 2022 – With business travel expected to remain down 85% and half of U.S. hotel rooms anticipated to remain empty in 2022, airline employee travel specialist ID90 Travel is targeting more than 2.5 million airline employees who take nearly 10 million trips per year to build hotel revenue growth during off peak periods. Since airline employees typically fly for free when seats are av...
Hotel Industry Says Automation & Integration Vital to Recovery
Duetto | March 8, 2022
The latest survey from Duetto reveals nearly 78% of hoteliers will increase their investment in hotel tech in the next three years San Francisco, March 8, 2022 - The digitization of the hospitality industry has been underway for decades, but the past two years have accelerated tech adoption in hotels across the globe. Duetto surveyed hoteliers worldwide to gauge the hotel industry's sentiment and priorities regarding revenue management, revenue tools, and technology innovations. The overwhelming response was that automation and integration are seen as key to future success by the majority of those working in a hotel revenue function...
Hotels Seek Out the Ordinary in 2022
HotStats | March 7, 2022
Hoteliers appreciate predictability. It aids in setting labor schedules, revenue management optimization, food cost containment and as a hedge against a variety of other line items impacting hotel operations on a daily, weekly, monthly and yearly basis. The past two years have been anything but formulaic and the crisis in Ukraine could keep it that way. Hotels, at the mercy of the pandemic, have been bounced to and fro like a dinghy in the middle of a sea storm. Calmer waters may soon prevail, but data points to a recovery that is anything but gangbuster. Europe Alarm In a worrisome sign, Europe profit in January fell into negative t...
Tourism Tidbits: With The Possible End of the Pandemic, It Is Time for Tourism to Help Travelers Make New and Pleasant Memories
Dr. Peter Tarlow | March 2, 2022
By Dr. Peter Tarlow As a special edition of Tourism Tidbits was published last week, this edition turns to other matters. Please pray for an end of the conflict in Europe and for peace not only in Europe but throughout the world. Although during the month of March much of the world is still deep in winter, there is the hope that the worst of the bitterly cold weather is now behind us. There is also the hope that potentially the tourism industry can go beyond all the hassles and lockdowns due to Covid-19 and return to a somewhat normal tourism industry. March is the month when tourism professionals need to remind themselves that th...
Four Trends for Beyond Revenge Travel 2.0
Larry and Adam Mogelonsky | March 2, 2022
By Larry and Adam Mogelonsky Last week we looked at some immediate trends that hoteliers should consider for the rest of 2022 as each property contends with the reopening and the huge swell of incoming travel encapsulated by the buzzy term ‘Revenge Travel 2.0’. All operators have to be ready to pivot on a dime, especially with the headache of labor shortages, but that doesn’t mean you can ignore what the years ahead will bring. In fact, if you don’t then you may find your business left behind by all the forces at play. What we stress from firsthand experience through our hotel asset management consultancy is that all the long-te...
The 4 Key Trends for Asia Pacific Travelers in Q4
Celine Wickerhoff | March 1, 2022
By Celine Wickerhoff The latest Travel Recovery Trend Report from Expedia Group Media Solutions highlights how the industry and travelers showed their resilience when faced with continued unpredictable pandemic circumstances in Q4 2021. Some of the brightest news for the quarter came from the Asia Pacific (APAC) region, and here we look in more detail at the key habits and outlook of travelers in this market. 1. Travelers Became More Interested in Traveling Again Whereas it appears that the arrival of the Omicron variant had the effect of slightly dampening interest among North America (NORAM) travelers and those in Europe, the...
U.S. Hotel Market Recovery Monitor – 19 February 2022
STR | February 25, 2022
Driven by the Presidents’ Day holiday weekend, U.S. leisure travel made a big comeback and pushed occupancy 4.6 percentage points to 59.1% during the week of 13-19 February 2022. That was the highest level of the past 13 weeks and the second consecutive week in which occupancy expanded by more than four percentage points from the previous 7-day period. The demand expansion was somewhat widespread as 40% of the 166 STR-defined U.S. markets reported weekly occupancy of 60% or more. Additionally, more than half of all markets saw occupancy surpass 70% over the weekend leading up to the holiday. Average daily rate (ADR) also advanced, increasin...
