International Visitors Spent Nearly $20.1 Billion Traveling Within the United States in March
National Travel and Tourism Office (NTTO) | May 23rd, 2024
CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16th, 2024
Middle East Construction Pipeline Accelerates with Projects Up 16% and Rooms up 11% YOY
Lodging Econometrics | September 22, 2016
September 22, 2016 – PORTSMOUTH, NH – According to the recent Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE), the total pipeline has 495 Projects/142,946 Rooms, up 16% by projects and 11% by rooms Year-Over-Year (YOY). For hotels currently Under Construction, the Middle East Pipeline has 282 Projects/88,545 Rooms, up 26% by projects and 19% by rooms YOY. There are 103 Projects/24,211 Rooms Scheduled to Start Construction in the Next 12 Months, up 8% by projects and 7% by rooms. Projects in Early Planning, 110 Projects/30,190 Rooms, are down 16% by projects and 11% by rooms. ...
Advanced Industry: The Driving Force Creating New Hotel Markets in China’s High-Tech Zones
HVS | September 21, 2016
By Daniel J Voellm and Nicholas Hu Runheng BACKGROUND High-tech development zones, areas representing the cutting edge of the high-tech industry, have been a driver of the economy and a window to the outside world for many cities in mainland China. Since 1991, the State Council has approved 105 national High-tech Zones in total, most of which cater to the heavy industries. However, with the continual development of China and the appearance of China's current 'L' economy, these High-tech Zones begin a transformation process and seed new industrial clusters, with an increasing share of producer service and financial services. For example,...
Airbnb – Coming To A Market Near You
Jamie Lane | September 21, 2016
By Jamie Lane Airbnb has continued to grow throughout the United States in 2016, and recently in cities that heretofore have yet to feel the impact. CBRE Hotels' Americas Research released a report in February 2016 entitled, The Sharing Economy Checks In: An Analysis of Airbnb in the United State. The report analyzed Airbnb performance data provided by Airdna[1]. In the report, it was found that more than 55 percent of the $2.4 billion in revenue generated by Airbnb nationwide from October 2014 to September 2015 was captured in only five U.S. cites (New York, Los Angeles, San Francisco, Miami, and Boston). Since then, we have seen much ...
London Leads Europe’s Hotel Construction Pipeline Followed by Istanbul and Moscow
Lodging Econometrics | September 21, 2016
September 21, 2016 – PORTSMOUTH, NH According to Europe's Hotel Construction Pipeline from Lodging Econometrics (LE), the three cities with the largest pipelines are: London with 78 Projects/14,070 Rooms, Istanbul with 35 Projects/6,310 Rooms and Moscow with 31 Projects/7,805 Rooms. The leading franchise companies in Europe's Pipeline are: Hilton Worldwide with 147 Projects/24,312 Rooms, InterContinental Hotels Group (IHG) with 116 Projects/20,593 Rooms and Marriott International with 80 Projects/14,605 Rooms. The leading brand for each of Europe's top three franchise companies are: Hilton's Hampton Inn & Suit...
Europe’s Hotel Construction Pipeline Shows Steady Growth with Projects Up 7% and Rooms Up 6% YOY
Lodging Econometrics | September 20, 2016
September 20, 2016 – PORTSMOUTH, NH According to the recent Construction Pipeline Trend Report for Europe from Lodging Econometrics (LE), the total pipeline has 951 Projects/152,085 Rooms, up 7% by projects and 6% by rooms Year-Over-Year (YOY). For hotels currently Under Construction, Europe's Pipeline has 423 Projects/74,158 Rooms, up 9% by projects and 7% by rooms YOY. There are 236 Projects/37,482 Rooms Scheduled to Start Construction in the Next 12 Months, up 2% by projects and 4% by rooms. Projects in Early Planning, 292 Projects/40,445 Rooms, are up 8% by projects and 6% by rooms. ...
US Leisure Strength Unsustainable; RevPAR Likely to Turn
Fitch Ratings | September 20, 2016
New York-20 September 2016: Fitch Ratings expects mid-single digit U.S. leisure transient lodging demand growth to decelerate to the low single digits against the backdrop of heightened geopolitical risk, US dollar (USD) strength, growth in alternative lodging accommodations and Zika-virus related health concerns. Lodging companies have cited relative leisure strength as an offset to weak corporate transient demand. This, in combination with weak corporate and decelerating group demand, supports our expectation for RevPAR to turn negative in 2018. Leisure transient demand is further removed but not immune to the negative effects o...
Shanghai, Chengdu and Guangzhou Top Cities in China’s Hotel Construction Pipeline
Lodging Econometrics | September 19, 2016
September 16, 2016 – PORTSMOUTH, NH In China's Hotel Construction Pipeline, according to Lodging Econometrics (LE), the three cities with the largest pipelines are: Shanghai with 113 Projects/23,340 Rooms, Chengdu with 81Projects/22,160 Rooms and Guangzhou with 95 Projects/16,740 Rooms. The leading franchise companies in China's Pipeline are: InterContinental Hotels Group (IHG) with 219 Projects/61,355 Rooms, Hilton Worldwide with 214 Projects/60,460 Rooms and Marriott International with 128 Projects/37,985 Rooms. The leading brand for each of China's top three franchise companies are: IHG's Holiday Inn Express with 66 Projects/14...
Seoul, Jakarta and Tokyo Top Cities in Asia with Largest Hotel Construction Pipeline
Lodging Econometrics | September 14, 2016
September 14, 2016 – PORTSMOUTH, NH – Lodging Econometrics (LE) reports that, excluding China, the top three cities in Asia with the largest hotel construction pipelines by rooms are: Seoul with 26,008 Rooms/124 Projects, Jakarta with 21,390 Rooms/122 Projects, and Tokyo with 12,029 Rooms/54 Projects. Excluding China, the leading franchise companies in Asia's Hotel Construction Pipeline are: InterContinental Hotels Group (IHG) with 26,211 Rooms/116 Projects, Marriott International with 25,912 Rooms/110 Projects and Starwood Hotels & Resorts with 25,632 Rooms/115 Projects. The leading brand for each of the top three franc...
Hotel Construction Pipeline in the Asia Pacific Region Declines with Projects Down 6% YOY
Lodging Econometrics | September 13, 2016
September 13, 2016 – PORTSMOUTH, NH – According to the recent Asia Pacific Construction Pipeline Trend Report from Lodging Econometrics (LE), excluding China, the region has 1,539 Projects/308,792 Rooms, down 6% by projects and 4% by rooms Year-Over-Year (YOY). For hotels currently Under Construction, excluding China, the Asia Pacific Pipeline has 864 Projects/179,056 Rooms, down 4% by projects and 3% by rooms YOY. There are 285 Projects/60,349 Rooms Scheduled to Start Construction in the Next 12 Months, down 4% by projects and 11% by rooms. Projects in Early Planning, 390 Projects/69,387 Rooms, are down 11% by projects and ...
Caribbean Hotel Profits Continue to Grow; Cuba and Zika Impact Performance
CBRE Group, Inc. | September 13, 2016
September 13, 2016, Atlanta, Ga. – CBRE Hotels Americas Research announced that the average Caribbean hotel experienced a 10.2 percent increase in gross operating profit (GOP) during 2015, according to its newly released tenth edition of Caribbean Trends® in the Hotel Industry. This is the fourth consecutive year that Caribbean hotels have seen a double-digit increase in GOP. Over the course of 2015, the Caribbean hotel and tourism industries saw growth in all major metrics except occupancy. Hotels in the Caribbean experienced growth in ADR, RevPAR, total operating revenue and profits in 2015 even in the face of declining occu...
How to CEO a Hotel Chain
Thomas Magnuson | September 9, 2016
By Thomas Magnuson, Co-Founder & CEO Magnuson Hotels Now that you know how to build your own hotel chain, let's talk about how to run it right. It is critical to understand that getting there and staying there are two vastly different things. You've developed a good product with clear brand positioning, and as CEO, you now need to develop and articulate the growth strategy. According to my good friend and sales consigliere Frank Cespedes of Harvard Business School, in his landmark book "Aligning Strategy and Sales," it goes like this: "Any coherent strategy statement should specify three components; objectives...
San Diego’s Recent Boom: How it Got Here and are the San Diego Chargers in its Future
Robert A. Rauch | September 8, 2016
by Robert A. Rauch The Past Horton Plaza served as the catalyst for San Diego's development in the recent past and it became the anchor for future development. Not only did it impact downtown but it also shepherded a resurgence in leisure market getaways including Mission Bay, Pacific Beach, and La Jolla. But the growth did not stop there as Coronado, anchored by the Hotel Del Coronado, Harbor Island, Mission Valley and UTC offered bargain vacations, quality shopping or a destination for corporate travelers and small meetings. In 1990 Downtown continued its shift with the opening of the San Diego Convention Center soon thereafter follo...
Travel Community Joins Calls for Long-Term TSA Fixes
U.S. Travel Association | September 8, 2016
WASHINGTON (September 8, 2016)—U.S. Travel Association President and CEO Roger Dow released the following statement on calls from Homeland Security Secretary Jeh Johnson and Transportation Security Administrator Peter Neffenger for Congress to boost TSA funding prior to a likely showdown over a federal budget resolution: "Mr. Johnson and Mr. Neffenger essentially confirmed today what the travel community has believed all along: that a return to the horrific TSA lines of early summer is not only possible, but likely, if we don't have an eye toward the future and plan accordingly. "Federal policy tends to be much more ...
Hotel, Travel Industries Join Forces to Urge Congressional Action on Zika Funding
American Hotel & Lodging Association | September 7, 2016
AH&LA, U.S. Travel Association Say Failure 'Jeopardizes Health and Economy' Washington, D.C. – September 7, 2016 – The U.S. travel industry joined forces today, urging Congress to immediately approve emergency funding to address the increased threat of the Zika virus. Together, the American Hotel & Lodging Association (AH&LA) and U.S. Travel Association sent a letter to Congressional leadership urging swift action to help halt the virus' spread and assist the agencies dealing with its impact. The letter was signed by 127 hotels, state tourism offices and other travel organizations. "The health, safety and securit...
Hotel Markets Coming into Balance as Demand and Supply Growth Rates Converge
CBRE Group, Inc. | September 7, 2016
U.S. Hoteliers Operate in a Low Inflation Environment Atlanta – September 7, 2016 – The magnitude of change in the major industry indicators is not pleasing U.S. hotel owners and operators. New development activity continues to accelerate, while growth in average daily room rates (ADR) has decelerated. The sluggish start during the first half of the year resulted in another downgrade by CBRE Hotels' Americas Research of its forecast for the entirety of 2016. "It has been very interesting dissecting the performance of the U.S. lodging industry during the first half of 2016," said R. Mark Woodworth, senior managing director of...
Cornell Study Puts Retaliation Claims in a Class by Themselves
the Cornell Institute for Hospitality Labor and Employment Relations | September 7, 2016
Ithaca, NY, September 7, 2016 - While it is unlawful for race, color, national origin, sex, or religion ever to motivate an employer's personnel decisions, age, disability, and retaliation must at the moment be "but for" causes to be actionable. A proposed federal bill would make motivation the standard across the board. A new analysis from the Cornell Institute for Hospitality Labor and Employment Relations (CIHLER) argues that retaliation is in a class by itself and should not have the same status as other discrimination causes. The report, "Experimental Evidence that Retaliation Claims Are Unlike Other Employment Discrimination Claim...
One Third of Upper Upscale Construction Pipeline Has Yet to Make a Branding Decision
Lodging Econometrics | September 6, 2016
September 6, 2016 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Upper Upscale category in the U.S. Hotel Construction Pipeline is at 66,303 Rooms/307 Projects. About one third, 20,974 Rooms/101 Projects, have yet to make a branding decision. Of the 45,329 Rooms/206 Projects that have already made a branding decision, the franchise companies with the largest room-counts are Hilton Worldwide with 15,061 Rooms/78 Projects, Marriott International with 14,381 Rooms/56 Projects and Starwood with 5,839 Rooms/28 Projects. Hilton's two largest brands in the Upper Upscale Construction Pipeline are: Embassy S...
Project Management Considerations for Building Equipment Upgrades
Kevin A. Goldstein | September 6, 2016
By Kevin A. Goldstein and Matthew Severson, Sep 6, 2016 If you own or operate a hotel for any significant length of time, you will likely have to replace some of your building's core MEP and HVAC equipment. This article outlines project management strategies for successful building equipment projects. A well-executed building equipment project can save energy, reduce maintenance costs, and significantly improve the guest experience. However, a poorly managed project can be disastrous for a hotel in terms of the resultant cost overruns, guest complaints, and long-term dissatisfaction with the installed equipment. We discuss five are...
Hotel Construction Pipeline Growth in Canada Steady with Projects Up by 10% YOY
Lodging Econometrics | August 31, 2016
August 31, 2016 – PORTSMOUTH, NH – According to the latest Canada Construction Pipeline Trend Report from Lodging Econometrics (LE), the Total Pipeline ended Q2 2016 with 208 Projects/25,177 Rooms, up 10% by projects and 9% by rooms Year-Over-Year (YOY). This is the 4th consecutive quarter where the pipeline shows YOY growth. There are 71 Projects/9,888 Rooms currently Under Construction. Projects Scheduled to Start Construction in the Next 12 Months are at 79 Projects/8,904 Rooms and projects in Early Planning are at 58 Projects/6,385 Rooms. ...
2016 HVS Lodging Tax Report – USA
Thomas A Hazinski | August 30, 2016
By Thomas A Hazinski and Alex Moon In the 5th annual Lodging Tax Report, HVS explores lodging tax trends in the USA. This updated version provides lodging tax rates/collections in all 50 US states and 150 US cities, and estimates the impact of Airbnb on lodging tax collections. To view full report click on PDF icon or visit HVS.com ...
Cleveland Research Report Indicates Lodging Companies Lowering 2016 Outlook to 2.4% Growth
August 30, 2016
Lodging Industry 2Q Results and Outlook for 3Q Key Points RevPAR Growth: Following a softer than anticipated 1H, lodging companies reduced their full year outlook and provided a lower bar for the 2H. Initial feedback on 3Q points to July and August both tracking in line to modestly below the updated budgets. September still looks good from a Group standpoint, however confidence in the Transient side is moderating. Results Summary: In this report we review the 3Q and 2016 outlooks by brand and REIT as well as review the 2Q results. The updated 2016 outlook now points to 2.4% growth (down from prior of 3.7%), which compares to 4.7% gro...
Weakening Reservation Pace Continues into Final Summer Months
TravelClick, Inc. | August 30, 2016
New August Bookings Indicate Prolonged Decline in North American Markets NEW YORK – August 30, 2016 – Heading into the latter summer months, the pace of new bookings continues to decline, with new August reservation commitments falling -2.8 percent. However, committed occupancy* and average daily rates (ADR) for the fourth quarter of 2016 are showing signs of growth for both group and transient travel, according to new data from TravelClick's August 2016 North American Hospitality Review (NAHR). "We're beginning to see an emerging trend with prolonged weakness in new reservation commitments," said John Hach, TravelClick's se...
New U.S. Hotel Openings Up for 2016 with Marriott Leading Q2 with 53 Hotels
Lodging Econometrics | August 29, 2016
August 29, 2016 – PORTSMOUTH, NH – Lodging Econometrics (LE) reports that 902 Hotels/101,454 Rooms are expected to open in the United States by the close of 2016, up from 736 Hotels/82,074 Rooms opened in 2015. Through the second quarter of 2016, 380 Hotels/42,798 Rooms have already opened, with another 522 Hotels/58,656 Rooms forecast for the remaining two quarters. LE forecasts that New Hotel Openings will jump to 1,099 Hotels/120,418 Rooms in 2017. Marriott has the most New Hotel Openings of any franchise company in the second quarter of 2016 with 53 Hotels/5,959 Rooms. Fairfield Inn is Marriott's top brand for New Hotel ...
HVS Key Takeaways: The Southern Lodging Summit 2016
Daniel P. McCoy | August 29, 2016
By Daniel P. McCoy, Aug 29, 2016 The 2016 Southern Lodging Summit drew a crowd of hoteliers and industry experts to Memphis. While delegates shared optimism about the prospects for growth, the conference shed light on some looming operational challenges facing the region's hotels. Hotel experts from across the industry converged last week in Memphis, Tennessee, for the Memphis Hotel and Lodging Association's annual Southern Lodging Summit. Memphis, the birthplace of Holiday Inn and a hub for Hilton Worldwide's corporate operations, has a rich heritage in hospitality, and many of today's top hotel executives trace their professional line...
