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
May Reservation Growth Delivers Welcomed News for Hoteliers
TravelClick, Inc. | May 31, 2016
Spring Bookings Provide Promise in Majority of North American Markets NEW YORK – May 31, 2016 – The spring booking bounce is spreading this season, with 22 of the top 25 North American markets showing committed occupancy* growth compared to last month. In addition, committed occupancy for the second quarter of 2016 through the first quarter of 2017 is also up 4.6 percent compared to last year, according to new data from TravelClick's May 2016 North American Hospitality Review (NAHR). "Over the past 30 days, there has been a noticeable increase in new committed occupancy demand," said John Hach, TravelClick's senior industry ...
U.S. Hotels Gain Incremental Negotiating Strength Over OTAs
Fitch Ratings | May 26, 2016
Fitch Ratings-New York-26 May 2016: The balance of power has shifted in favor of U.S. hospitality companies in their tenuous relationship with online travel agencies (OTAs), according to Fitch Ratings. Solid industry fundamentals have allowed many lodging brand owners to negotiate more favorable commission rates and contract terms, and hotel brand consolidation will perpetuate this trend. However, OTAs have several avenues available to offset the latest round of the long-standing trend of commission rate pressure. The scale and breadth of their bookings platforms will continue to make OTAs a relevant and valuable hotel-distribution part...
Business Travel in Brazil Set to Bottom out in 2016 Before a Slight Rebound in 2017
the GBTA Foundation | May 25, 2016
Wide Range of Issues are Creating a Difficult Climate for Business Travel in Latin America's Biggest Market SÃO PAULO - May 25, 2016 - Brazilian business travel will continue to face a difficult climate for the remainder of the year. This is one of the key findings from the GBTA BTI™ Outlook – Brazil 2016 H1, a report by the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA), sponsored by Visa, Inc. The new report has downgraded business travel in Brazil for the fourth consecutive time, with total business spending in Brazil forecast to decline by 8.5 percent this year. Wh...
China Hotel Investment Watch 2016 | Excerpts
Daniel J Voellm | May 24, 2016
By Daniel J Voellm and Cathy Nie, May 24, 2016 The annual China Hotel Investment Watch, now in its seventh edition, serves as an important indicator of the investment climate in the Chinese hotel market for stakeholders in their effort to evolve the Chinese hotel industry to the next level! The hotel industry in China has witnessed hotel development activity on an unprecedented scale and at an extremely vigorous rate. Supply surges were first seen in coastal cities and key commercial centres and consisted mostly of international hotel brands that served the needs of inbound international travellers. In other parts of the country, supply...
U.S. Hotel Revenue Growing, but Slowing
CBRE Group, Inc. | May 24, 2016
U.S. Hotel Operating Performance Takes a Breather in 2015 Atlanta – May 24, 2016 – U.S. hotel revenue growth is slowing down, while expenses are on the rise. According to CBRE Hotels' Americas Research's 2016 edition of Trends® in the Hotel Industry, operating performance continued to improve in 2015, but at a much slower pace. Trends® is the firm's annual survey of operating statements from thousands of hotels across the nation. The data for the 2016 survey was processed in accordance with the new 11th edition of the Uniform System of Accounts for the Lodging Industry. "After five years of strong increases in occupa...
Texas Has Largest Construction Pipeline with 673 Projects
Lodging Econometrics | May 19, 2016
May 19, 2016 – PORTSMOUTH, NH – According to a recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), Texas has the largest pipeline of any state with 673 Projects/72,747 Rooms. Houston, Dallas and Austin account for 55% of all hotel development in Texas with 369 projects/44,459 rooms. Following Texas is California with 413 Projects/62,067 Rooms then New York with 325 Projects/47,909 Rooms. The franchise companies with most pipeline projects in Texas are: InterContinental Hotels Group (IHG) with 141 Projects/14,542 Rooms, Hilton Worldwide with 133 Projects/15,255 Rooms, and Marriott Internati...
Dallas, Nashville and Atlanta Have Fastest Growing Construction Pipelines
Lodging Econometrics | May 18, 2016
May 18, 2016 – PORTSMOUTH, NH – Lodging Econometrics reports that Dallas, Nashville & Atlanta have the fastest growing hotel construction pipelines in the U.S. Dallas increased its pipeline by 41 projects Year-Over-Year (YOY), and now has 128 Projects/16,124 Rooms. Nashville has 89 Projects/11,566 Rooms, an increase of 39 projects. Atlanta with 79 Projects/9,912 Rooms is up by 29 projects. Marriott International is the leading franchise company in all three markets, with 29 projects in Dallas, 20 in Nashville, and 24 in Atlanta. All but one of these Marriott projects are either currently Under Construction or scheduled t...
Marriott Brands Leads Upscale Hotel Sales with 15 First Quarter Transactions
Lodging Econometrics | May 13, 2016
May 13, 2016 – PORTSMOUTH, NH - Lodging Econometrics reports that in the first quarter of 2016 there were 15 Marriott-branded Upscale hotel sales in the United States that had selling prices reported into the public domain. The Average Selling Price Per Room (ASPR) for these Marriott-branded hotels was $178,131, while the ASPR for the remaining 17 transactions in the Upscale sector was $123,465. The 15 Marriott-branded Upscale transactions consisted of: five Courtyards with an ASPR of $204,054; five SpringHill Suites with an ASPR of $192,891; and five Residence Inns with an ASPR of $133,029. The highest ASPR for a single transacti...
Bucking Trends: Boutique Hotels with Food and Beverage
the Author and CBRE | May 13, 2016
By Robert Mandelbaum For the past several years, limited- and select-service hotels have been extremely popular among hotel developers. According to STR, Inc. 80 percent of the properties (70 percent of the rooms) that opened in 2015 did not offer a restaurant. Also lagging in development activity are independent hotels. Of the 775 new hotels that opened in 2015, only 79 (10.2%) were not affiliated with a brand. These trends are the result of consumer preferences and the realities of financially feasible hotel development. So, what happens if you are a hotelier with a passion for food and beverage and independence? You open a boutique h...
Fall in Average RevPAR Suggests the United Kingdom’s Hotel Property Market has Reached a Plateau
HVS | May 10, 2016
10 May 2016, London: The UK's hotel market saw its first decline in average RevPAR (rooms revenue per available room) in four years during the first three months of 2016 adding further fuel to the suggestion that the peak of the hotel property market may have been reached. According to the latest Hotel Bulletin: Q1 2016, published by HVS, AlixPartners and AM:PM, a poor start to the year for hotels in Aberdeen saw RevPAR fall by 37% year-on-year, skewing overall results across the 12 cities analysed. Even excluding Aberdeen's results, the overall market grew by only 1%, its lowest increase since Q1 2012. While London remains a popular de...
What Time Is The 3 PM Parade? (Should your hotel have some Mickey Mouse® in it?)
Kirby D. Payne | May 9, 2016
By Kirby D. Payne and Victoria 'Vicki' S Richman, May 9, 2016 Vicki Richman attended Disney Institute. We have incorporated much of what she learned into our company. Every year we improve our company's culture and that of our hotels. If the Walt Disney Company is any benchmark, it's clearly worth doing. Years ago the Disney Institute held a seminar in Minneapolis . Among the co-sponsors was the Minnesota Hotel & Lodging Association. Vicki Richman, our CFO, attended and I have adapted her notes for this article. There is a lot of information provided in this seminar which we have incorporated into our company culture. Ou...
U.S. Hotels Make Chinese Travelers Feel at Home
JLL Real Views | May 9, 2016
by Laura Agadoni In a growing number of U.S. hotels, fried noodles and congee are joining the bacon and eggs on the breakfast buffet, chopsticks are lining up alongside the forks and staff are being trained to say "huanying" as well as "welcome". Chinese travelers are flocking to America – where they're being welcomed with open arms particularly following a 2014 visa agreement, which extends business and tourism visas from China to the US (and vice versa) from one year to 10 years. The US government is aiming to encourage Chinese travel to the US to help boost the tourism sector as well as the wider economy. And for good reason &n...
Hotel Transactions Off to a Slow Start in First Quarter According to US Transactions Trend Report
Lodging Econometrics | May 9, 2016
May 9, 2016 – PORTSMOUTH, NH - According to the most recent United States Transactions Trend Report from Lodging Econometrics, transaction activity is off to a slow start in 2016. In the first quarter there were 252 hotel transactions, the lowest transaction volume recorded since the third quarter of 2012. There was no merger & acquisition activity reported in the first quarter. Only 42 of the hotels sold were part of portfolio transactions, the lowest total in four years. The remaining 210 hotels were single-asset transactions. ...
US Lodging in Twilight of Latest Upcycle; Caution Ahead
Fitch Ratings | May 5, 2016
Fitch Ratings-New York-05 May 2016: The US lodging industry is in the twilight of the current upcycle, according to Fitch Ratings. The recovery is now the second longest on record, with trailing 12-month (TTM) RevPAR positive for 68 consecutive months. Fitch is not forecasting a U.S. recession through at least 2017 and it would be unprecedented for lodging to enter a downturn without one. We expect RevPAR to accelerate modestly during the remainder of the year from an unusually weak first quarter. However, lodging fundamentals are softening and RevPAR growth is decelerating, with 2016 likely to come in at (or possibly below) the low end...
Tolland Village, CT to Develop $100 million Mixed-Use Project that Includes Hotel
Construct-A-Lead | May 3, 2016
Hotel-Online and Construct-A-Lead report that there have been dozens of new and renovated hotel construction leads added to the Construct-A-Lead hotel project database during the past two weeks. Interested parties are invited to visit construct-a-lead.com and enter promo code hotelonline for a reduced rate available only to Hotel Online subscribers following a free trial that provides you up to five reports to view over three days. Businesses will have ample opportunities to provide construction bids and other services relative to these projects. Users are encouraged to view and track projects, examples of which are listed below. Refere...
Travel Trends Index: Domestic Biz Travel Reels, Int’l Set to Rebound
U.S. Travel Association | May 3, 2016
WASHINGTON (May 3, 2016)—Despite further decline in domestic business travel, the U.S. Travel Association's latest Travel Trends Index (TTI) indicates that travel to and within the U.S. expanded overall in March—and predicts a moderate overall uptick in travel through mid-2016, thanks to solid domestic leisure travel demand and expected strengthening in international inbound visitation numbers. The March Current Travel Index (CTI) registered 51.3 in March, showing overall growth in travel demand in March. The CTI has read above 50—indicating growth—for 75 straight months. After lagging behind domestic travel ...
CBRE’s Lodging Insights April 2016 Video
CBRE Hotels | April 29, 2016
Mark Woodworth and Jack Corgel discuss the global economy with CBRE Chief Economist Richard Barkham. Dr. Barkham also shares his opinion on how global monetary policy is impacting U.S. interest rates and what it means for the domestic economy. Richard Barkham's paper on negative interest rates can be found here: http://cbrecapitalwatch.com/?p=1051 ...
Weakening Spring New Reservation Demand Produces Cloudy Outlook for Hoteliers
TravelClick, Inc. | April 29, 2016
However, Group Booking Growth Continues to Provide Promise in Majority of North American Markets NEW YORK – April 29, 2016 – New reservation commitments added over the last month are down -7.1 percent, according to new data from TravelClick's April 2016 North American Hospitality Review (NAHR). These numbers highlight hotels' continued fragmented performance during this season. However, there remains some positive news, as 18 of the top 25 North American markets are still showing overall year-over-year increases in committed occupancy* growth. "New reservation growth has considerably weakened over the past month," said John ...
Global Market Advisors Releases: “Gaming in India: An Evaluation of the Market’s Potential”
Global Market Advisors, LLC | April 28, 2016
LAS VEGAS, NEVADA (April 28, 2016) - Global Market Advisors (GMA), a leading hospitality research and consulting firm serving the casino gaming, lodging, and airline industries, today issued a white paper entitled, "Gaming in India: An Evaluation of the Market's Potential." The paper focuses on the gaming market in India today, the competitive environment, and the market's potential. The paper is authored by Kit Szybala, Director of Research and Analysis at Global Market Advisors. In Global Gaming Business Magazine's May 2016 issue, Kit Szybala's article entitled "Asia's Sleeping Tiger" provides a...
New Report: Consumer Mega-Trends Impacting Hospitality in 2016
Sabre | April 27, 2016
Sabre report analyzes changing consumer behavior and emerging trends to identify what consumers will want next SOUTHLAKE, Texas – April 27, 2016 – Consumer shopping and buying behaviors are always evolving, but the most disruptive changes are still ahead. The latest research study from Sabre (NASDAQ: SABR) examines today's emerging trends to reveal what travelers will want tomorrow. Sabre Hospitality Solutions has partnered with TrendWatching, a company that tracks emerging patterns in consumer behavior, attitude and expectations, to identify the major consumer mega-trends that are expected to have the most impact on the tra...
Orlando Hotels Adopt nSight to Gain Market Share
nSight | April 26, 2016
Twenty hoteliers leverage predictive data to mitigate uncertainty in market NASHVILLE, TN (April 26, 2016) nSight, the leader in online consumer shopping intelligence for hotels and destinations, recently signed twenty new hotel clients in the Orlando area. Despite an overall healthy market anchored by top global attractions, Orlando hotels continue to battle fluctuations from international travelers and rate competition in non-peak periods. Local hotels that use nSight's predictive shopping data to make smarter digital marketing and revenue management decisions are seeing stronger rate growth and steadier demand. For hotels in Orlando,...
Key Takeaways: Hunter Hotel Conference
Michael E. Brophy | April 25, 2016
By Michael E. Brophy, Kasia M. Russell and Janet L. Snyder The Hunter Hotel Conference brought out insights from every corner of the industry, marking potential upsets and opportunities to gain ground for U.S. hoteliers in 2016. At last month's Hunter Hotel Conference in Atlanta, discussions revolved around change, tho ugh thetheme might be better characterized as uncertain anticipation. Hoteliers have long been anxious about incursions into their territory from Airbnb, though experts are saying that the threat is largely benign. The transactions market is slowing, though rates and RevPAR should post gains in 2016, indicating that U.S....
China Overtakes United States as World’s Largest Business Travel Market
the GBTA Foundation | April 21, 2016
Despite Relative Slowdown China Business Travel Market Remains One of Fastest Growing in the World Investment in Travel Infrastructure Continues ALEXANDRIA, Va.- April 21, 2016 - China's business travel market has overtaken the United States as the number one business travel market in the world. This is one of the key findings from the GBTA BTI™ Outlook – China 2016 H1, a report by the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA), sponsored by Visa, Inc. Revised figures in this new report from the GBTA Foundation show China edged past the United States in total business tra...
Planned Conversion and Renovation of the Cook County Hospital into a Hotel & Apartments Evolving
Construct-A-Lead | April 19, 2016
Hotel-Online and Construct-A-Lead report that there have been dozens of new and renovated hotel construction leads added to the Construct-A-Lead hotel project database during the past two weeks. Interested parties are invited to visit construct-a-lead.com and enter promo code hotelonline for a reduced rate available only to Hotel Online subscribers following a free trial that provides you up to five reports to view over three days. Businesses will have ample opportunities to provide construction bids and other services relative to these projects. Users are encouraged to view and track projects, examples of which are listed below. Refere...
