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
Chinese Tourists Spend US$229 Billion in 2015
GfK | January 14, 2016
China hits 109 million outbound tourists in 2015; South Korea and Thailand overtake Hong Kong as most popular destinations; Europe beats North America as most popular destination outside of Asia Nuremberg, January 14, 2016 – GfK's latest analyses of the Chinese market shows that China produced 109 million outbound tourists in 2015 – with retail spend of US$229 billion. This is a key milestone in China's outbound tourism history. These statistics consolidate China's position as one of the top global sources of tourists, in terms of both number of trips and money spent during international travel. At the same time, there have ...
U.S. Business Travel Marketplace to Remain Stable and Steady Despite Sea of Global Volatility
the GBTA Foundation | January 13, 2016
U.S. Business Travel Spending to Hit $299.9 Billion in 2016, $310.4 Billion in 2017 ALEXANDRIA, Va.--January 13, 2016--U.S. business travel will continue to grow at stable and steady rates over the next two years, despite significant headwinds from Asia Pacific, Latin America and the Middle East. These findings are part of the GBTA BTI™ Outlook – United States 2015 Q4, a report by the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA), sponsored by Visa, Inc. "The U.S. business travel market is an island of stability in a sea of global volatility," said Michael W. McCormick, GBTA...
nSight Scores New San Francisco Hotel Clients by Helping Win Guests from the OTAs
nSight | January 13, 2016
A dozen hoteliers turn predictive consumer data into game-changing revenue strategy NASHVILLE, TN (January 13, 2016) nSight, the leader in online consumer shopping intelligence for hotels and destinations, has added twelve new hotel clients from the San Francisco/Napa Valley region. A combination of branded and independent properties, these hoteliers are focused on winning back guest relationships from the OTAs by using forward-looking shopping data to make smarter digital marketing and revenue management decisions in one of today's hottest global leisure markets. Transient consumer demand for hotel stays in San Francisco over the next ...
U.S. Lodging Cycle Entering the Twilight Zone
Fitch Ratings | January 7, 2016
Fitch Ratings-New York-07 January 2016: Sixty-four months into this recovery as of December 2015, the U.S. lodging cycle entered a twilight zone - an intermediate, unsettled and often confounding area that straddles the end of expansion and the beginning of contraction. Here, healthy economic trends and hospitality fundamentals unnaturally coincide with weak hotel stock prices, modest guidance cuts and geopolitical instability, which have reduced investor confidence. According to a new Fitch Ratings report, cumulative trailing-12 month (TTM) RevPAR has increased by 48% from its February 2010 trough, exceeding the 38% early 2000s RevPAR ...
Demand for Hotel Acquisitions Across Europe Prompts Early Exit by Investors, Says HVS
HVS | January 7, 2016
7 January 2016, London: Strong demand for hotel acquisitions prompting private equity investors to sell their assets ahead of the usual investment time-frame, continued consolidation amongst the branded hotel chains, and the impact of recent terrorist activities are the key issues facing the European hotel sector into 2016, according to global hotel consultancy HVS. Looking ahead, HVS London chairman Russell Kett expects demand for hotel acquisitions in Europe to continue as investors, particularly those in the US and Asia, continue to diversify their investments globally. "Some have already shown their desire to sell the hotels they ha...
Capturing Consumers: Key Brand Trends for 2016 as Presented by Landor
Landor | December 29, 2015
Brick and mortar is back, and speedy, seamless, sensory experiences are in demand NEW YORK (December 2015): In 2016, consumers will crave more authentic interactions with brands on every level. Whether it's customers returning to brick-and-mortar stores for more personal engagement or wanting to experience brands through multichannel, multisensory experiences, consumers are responding to storytelling and incorporating products and services into their lives in unprecedented ways. Landor, one of the world's leading strategic branding and design firms, analyzed innovations, consumer behavior, the changing market, and attitudes from a mult...
U.S. Hotel Openings Forecast to Accelerate in the Next Two Years According to Lodging Econometrics
Lodging Econometrics | December 28, 2015
Dec. 28, 2015 - PORTSMOUTH, NH - Analysts at Lodging Econometrics (LE) report that new hotel openings in the United States will accelerate over the next two years. This year the U.S. is scheduled to open a total of 742 new hotels. Based on the current construction Pipeline, 845 hotels are forecast to open in 2016 with another 998 hotel openings in 2017. LE says that the growth in new hotel openings from 2016 to 2017 will be led by three major franchise companies, which are forecast to brand 67% of all new openings: Marriott International with 456 hotel openings, Hilton Worldwide with 406, and Intercontinental Hotels Group (IHG) with 374....
U.S. Hotel Construction at Highest Point Since 2009
Lodging Econometrics | December 22, 2015
Dec. 22, 2015 - PORTSMOUTH, NH - According to a recent United States Construction Trend Report from Lodging Econometrics, the total Pipeline is at 4,055 Projects, the highest point since the second quarter of 2009. There are 1,192 Projects currently Under Construction, up 12% Year-Over-Year (YOY). Projects scheduled to Start in the Next 12 Months have shown even greater growth, up 28% YOY, and are now at 1,755 Projects. Projects Under Construction and projects scheduled to Start in the Next 12 Months are both at their highest points since 2009. Projects in Early Planning, up 3% YOY, has 1,108 projects. ...
nSight Expands in Miami with Thirteen New Hotel Clients
nSight | December 17, 2015
Savvy hotels leverage predictive consumer analytics for demand-informed digital marketing and revenue management in a top 10 market NASHVILLE, TN (December 17, 2015) nSight, the leader in online consumer shopping intelligence for hotels and destinations, added thirteen new hotels to its growing list of Miami clients, during the last weeks of 2015. From the airport to South Beach, Miami hotels are leveraging forward-looking shopping data to make smarter digital marketing and revenue management decisions in one of the U.S.'s most competitive markets. Consumer search for hotel nights in Miami during the next 30 days is up 55.7% compared to...
U.S. Travel Predicts Holiday Travelers Will Spend $28.7 Billion
the U.S. Travel Association | December 17, 2015
Travel Industry Reminds Congress to Prioritize Infrastructure In Order to Meet Growing Demand WASHINGTON (December 17, 2015)—This year's record number of travelers hitting the road, rail or skies this holiday season will spend more than last year, according to economists at the U.S. Travel Association. AAA projects that the number of year-end holiday travelers this year will top 100 million for the first time, representing a 1.4 increase over last 2014 and the seventh consecutive year of year-end holiday travel growth. In total, holiday travelers are expected to spend $28.7 billion, a slight but steady increase from 2014. U.S. Tr...
Atlanta Leads All U.S. Markets in Transaction Volume
Lodging Econometrics | December 17, 2015
Dec. 17, 2015 - PORTSMOUTH, NH - Lodging Econometrics (LE) reports that Atlanta has had the most hotel sales of any U.S. market over the last three years. Atlanta logged 42 sales in 2013 with a reported selling price, 30 sales in 2014 and 25 sales through the third quarter of 2015. These 25 sales had an Average Selling Price Per Room (ASPR) of $74,446 and because Atlanta has a larger preponderance of mid-market hotels in its census mix, compared to many northern tier markets, it normally has a lower average selling price per room than the national average, said LE. ...
Take Advantage of Free Cash! A User’s Guide to Energy Incentives
HVS | December 15, 2015
By Kevin A. Goldstein and Sonia Vasquez, Dec 14, 2015 Financial incentives and rebates available from utility providers and municipalities can significantly improve the economics of Return on Investment (ROI) projects. This article provides practical guidance on how to identify and secure incentives. Introduction There are many types of incentives available to improve the economics of utility efficiency ROI projects. These include cash incentives and rebates, tax incentives, regulatory incentives (e.g. expedited construction permitting), and other novel mechanisms. For the purposes of this article, we primarily focus on the cash incenti...
U.S. Hotel Construction Pipeline Posts Nine Straight Quarters of YOY Growth
Lodging Econometrics | December 11, 2015
Dec. 11, 2015 - PORTSMOUTH, NH - Lodging Econometrics reports that the U.S. Hotel Construction Pipeline has posted nine straight quarters of Year-Over-Year (YOY) growth and recorded increases of at least 10% YOY for the last five quarters. The Construction Pipeline is now at 4,055 Projects/503,935 Rooms, up 15% YOY by projects and 14% by rooms compared to a year ago. ...
2016 Global Hotel Outlook Stable on Favorable Global Travel Trends
Fitch Ratings | December 11, 2015
Fitch Ratings-New York-11 December 2015: The 2016 outlook for the global hotel industry is Stable as favorable travel trends and stable financial policies should allow most issuers to operate within Fitch's rating sensitivities, according to Fitch Ratings. Fitch expects global RevPAR growth will modestly decelerate to a healthy 3% to 5%. "Middle class growth in emerging markets, relaxed barriers to visitation by some important destination countries, and growing consumer preferences for experiential rather than material purchases, means hotel RevPAR growth is here to stay for another year, despite some new and familiar risks to ...
Fitch: Accor Deal Mild Positive, More Hotel Consolidation Likely
Fitch Ratings | December 11, 2015
Fitch Ratings-London-11 December 2015: AccorHotels' acquisition of FRHI Holdings will improve the group's business profile by increasing its international diversification and will not affect its key financial metrics, Fitch Ratings says. The deal reinforces our expectation for further hospitality and travel industry consolidation as competition is rapidly increasing. The three brands AccorHotels is acquiring, Raffles, Fairmont, Swissotel, have hotels in 34 countries, but their biggest presence is in North America, which currently represents just 1% of Accor's hotel portfolio. It will only make up a small proportion of the gr...
Westgate Resorts Breaks Marketing and Revenue Management Rules with nSight Predictive Analytics
nSight | December 10, 2015
nSight empowers world-class developer to improve revenue management practices and leverage consumer demand for future arrival dates NASHVILLE, TN (December 10, 2015) nSight, the leader in online consumer shopping intelligence for hotels and destinations, today announced the addition of the full Westgate Resort portfolio to their already impressive client roster. Westgate Resorts, one of the largest resort developers in the world and an innovator in revenue management, has selected nSight to drive market share and improve overall RevPAR for its resorts in Florida, Tennessee, South Carolina, Missouri, Utah, Nevada, and Arizona. "Maximizin...
The Millennial Shift in Hotel Brands
Brett Russell | December 8, 2015
By Brett Russell | December 2015 The past ten years have ushered in the introduction of more new hotel brands than any time in modern history. Most of these are geared toward the Millennial Generation, with hotel companies creating concepts to capture this vital segment of demand. The U.S. hotel industry is in the midst of its latest, greatest up-cycle in recent memory, with performance figures going skyward year after year. This is part of the reason that major hotel brands, as well as smaller niche companies, have been taking a chance on innovative hotel concepts. Most of these have been engineered to identify with the so-called Mille...
Fitch: U.S. Leisure Outlook Stable Amid Competition for Consumer Wallet Share
Fitch Ratings | December 7, 2015
Fitch Ratings-New York-07 December 2015: U.S. leisure companies will continue to benefit from consumer spending growth in 2016, aided by the trend towards more experiential, rather than material, purchases, according to a new Fitch Ratings report. The competitive environment for consumer wallet share remains intense and leisure companies must compete against varying alternatives, including retailers, technology services, and non-travel oriented entertainment. For online travel agencies, consolidation will remain a theme in 2016 as companies capitalize on market fragmentation to improve scale and profitability and fend off new competitio...
Lodging Econometrics Reports Hilton’s Hampton Inn & Suites Sales Transactions Lead All Brands
Lodging Econometrics | December 3, 2015
Dec. 3, 2015 - PORTSMOUTH, NH - Analysts at Lodging Econometrics report that there were 97 Hilton Hampton Inn & Suites sold through the third quarter of 2015, triple the number sold for all of 2014. Hampton Inn & Suites accounts for 45% of all Upper Midscale hotel sales for the first nine months of 2015 with an Average Selling Price Per Room (ASPR) of $117,253, well above the $104,516 average recorded for all Upper Midscale hotels. Hampton Inn & Suites also has 312 projects in the U.S. Hotel Construction Pipeline, representing 20% of all new construction in the Upper Midscale category. ...
U.S. Travel Statement on Feinstein-Flake VWP Bill
the U.S. Travel Association | December 2, 2015
"The U.S. travel community strongly supports sensible security enhancements to the Visa Waiver Program. What we cannot support are steps that ultimately dismantle the program and set back America's economy and our efforts to protect the homeland. "The Feinstein-Flake VWP bill contains a number of sound proposals, but there are a universe of unanswered questions about the feasibility, cost and effectiveness of its biometrics provision. For one thing, it appears to be redundant upon existing policy, because biometric information is already collected from those travelers who clear CBP upon arrival, while they are still inside secure ar...
nSight Welcomes sbe’s Portfolio of Award-Winning Hotels to its List of Independent Hotel Groups
sbe | December 2, 2015
Predictive consumer analytics give boutique properties a digital marketing and revenue management advantage by anticipating buyer behavior NASHVILLE, TN (December 2, 2015) nSight, the leader in online consumer shopping intelligence for hotels and destinations, today announced that sbe, a global hospitality and entertainment company, is using nSight's predictive marketing and revenue management intelligence platform across its portfolio. Known as an innovative lifestyle brand, sbe leverages nSight's forward-looking consumer shopping data to improve digital ROI and support business development initiatives. "nSight's ability to show us ho...
US Hotels Selling at Record Highs with Average Selling Price Per Room (ASPR) of $165,303
Lodging Econometrics | December 1, 2015
Dec. 1, 2015 - PORTSMOUTH, NH - According to a recent United States Transactions Trend Report from Lodging Econometrics, through September there were 827 hotel sales with reported selling prices with an Average Selling Price Per Room (ASPR) of $165,303, an all-time high. The ASPR is 11% higher than the $148,658 recorded for year-end 2014. The 2015 ASPR is strongly influenced by five transactions that have sold for more than $1,000,000 per room: in New York City the Baccarat at $2.0 million and the Waldorf Astoria at $1.4 million per room; in California the Malibu Beach Inn at $1.7 million per room and the Montage at Laguna Beach and the...
Strong Individual Leisure and Business Bookings Buoy Hotel Sector through End of the Year
TravelClick, Inc. | November 30, 2015
Simultaneously, Group Sales Pace Weakens in Final Months of 2015 NEW YORK – November 30, 2015 – As hoteliers prepare for the start of 2016, properties in major North American markets are experiencing strong transient (individual business and leisure) bookings, as well as upticks in average daily rates, leading to strong RevPAR (revenue per available room) growth. However, when it comes to the group segment, hotels have experienced a deceleration in commitments / bookings, as they are down -3.8 percent year-over-year, according to new data from TravelClick's November 2015 North American Hospitality Review (NAHR). "The recent ...
Marriott Accounts for Almost Half of all Upscale Hotel Sales Reports Lodging Econometrics
Lodging Econometrics | November 25, 2015
Nov. 25, 2015 - PORTSMOUTH, NH - Through Q3 2015, the research and analysis department at Lodging Econometrics has tracked the sale of 227 Upscale hotel sales with a reported selling price in the United States and found that Marriott branded properties accounts for 49% of them. Under the Marriott umbrella there were 51 Residence Inns sold, 44 Courtyards and 17 Springhill Suites. Residence Inns had the highest Average Selling Price Per Room (ASPR) of Marriott's Upscale brands at $148,738, compared to an overall Upscale ASPR of $137,583. ...
