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
nSight Hosts Complimentary Webinar: How To Turn OTA Shoppers Into Direct Bookers on October 7th
nSight | September 24, 2015
NASHVILLE, TN – September 24, 2015 –nSight, the leader in online consumer shopping intelligence for hotels and destinations, today announced a complimentary webinar on "How to Turn OTA Shoppers into Direct Bookers." The webinar will be held on Wednesday, October 7 at 1:00PM EDT. With today's multi-billion dollar ad budgets of OTAs, it's difficult for hotels to compete in the digital landscape. Understanding consumer shopping behavior and profiles provides the opportunity for hotels to influence the right shoppers during the active buying process. Hotels can use this insight to maximize direct bookings and re-establish relati...
Shutdown Would Cost U.S. Travel Economy At Least $185M per Day
U.S. Travel Association | September 22, 2015
530,000 American Workers Would Be Affected WASHINGTON (September 22, 2015)—A federal government shutdown would cost the U.S. travel sector at least $185 million per day in economic output due to lost activity and affect 530,000 travel-related jobs due to temporary layoffs, reduced wages and fewer hours worked, economists at the U.S. Travel Association project. The U.S. Travel projection encompasses the closure of national parks and historic sites—upon which many regional economies greatly depend—and also the cancellation of both government travel and private business travel related to government projects. "Politic...
Lodging Cycle Concierge Video – Sept 2015: Why This Cycle Is Different
September 16, 2015
Wed Sep 16 2015 : Stephen Boyd, Director of REITs and Lodging explains why the current lodging cycle remains unusually strong, even at 59 consecutive months of positive TTM RevPAR. ...
According to Fitch Ratings, Low Levels of New Supply Bolster US Lodging Sector
Fitch Ratings | September 15, 2015
Fitch Ratings-Chicago-15 September 2015: Fundamentals across the US lodging sector remain unusually strong in the context of a cycle that turned 59 in July, based on consecutive months of positive TTM RevPAR, according to Fitch Ratings. TTM RevPAR was up 8% at the end of July -- a growth rate that is roughly 200 bps-300 bps stronger than the prior two cycles at the 59-month mark. RevPAR growth is broad based across price tiers and geographies, supply growth remains muted and capital is widely available. Fitch's 7% US RevPAR forecast for 2015 implies some deceleration, largely due to tougher year-over-year comparisons through the balance...
The Hotel Guide to Budgeting Business Intelligence Tools in 2016
nSight | September 8, 2015
nSight's New eBook Provides Goal-Based Tips for 2016 Budgets NASHVILLE, TN - September 8, 2015 -nSight, the leader in online consumer shopping intelligence for hotels and destinations, today released its eBook on how hotels should plan and budget for business intelligence tools for the upcoming year in an always-changing consumer environment. The simple tips in this eBook help hoteliers be positioned better to increase bookings in 2016 by understanding and targeting consumers more proactively and more effectively than the competition. Hotel distribution is more complex today with a growing number of intermediaries between the hotel prod...
Labor Day Travelers Projected to Spend $13.5 Billion
U.S. Travel Association | September 2, 2015
But Infrastructure Woes Leave Another $1.7 Billion on the Table WASHINGTON (September 2, 2015)—Each American taking a trip for the Labor Day long weekend is expected to spend an average of $380 on goods and services, according to a survey and analysis released by the U.S. Travel Association. With AAA projecting that 35.5 million Americans will take to the roads and skies over the holiday, that calculates to $13.5 billion travelers will pour into the U.S. economy—up two percent over 2014. However, U.S. Travel's survey found that hassles caused by failing surface and air travel infrastructure will keep 4.1 million potential travelers...
2015 Manhattan Lodging Overview 2Q
Roland deMilleret, MAI | September 1, 2015
By Roland deMilleret, MAI and Erin Bagley The New York City borough of Manhattan is among the strongest, most diverse, and most dynamic hotel markets in the world. The 2015 HVS Manhattan Lodging Overview examines the effects of up and down economic cycles on Manhattan hotels, reviewing trends in hotel performance, supply, and demand over the past 25 years. The report also provides the most current information available on today's market, as well as forecasts for supply growth and hotel performance. Putting Hoteliers in the Know Historically, demand in Manhattan has grown faster than the rate of new hotel development, helping shield t...
Hotels Gearing Up for 2016: Strong Advance Bookings Provide Positive Long-Term Outlook
TravelClick, Inc. | August 26, 2015
Slight Dip in Short-Term Booking Performance Attributed to Early Summer Vacation Planning NEW YORK – August 26, 2015 – As the end of summer nears, hotels in major North American markets are focusing on capturing bookings for early 2016 as opposed to last-minute travel deals, according to data from the August 2015 TravelClick North American Hospitality Review (NAHR). "Savvy hoteliers and smart travelers are playing the long game, according to the latest TravelClick data," said John Hach, Senior Industry Analyst at TravelClick. "While there are some short-term dips in demand, capturing strong advance bookings is a best practice for o...
U.S. Travel Association Names Minnesota’s John Edman Natl. State Tourism Director of the Year, 2015
U.S. Travel Association | August 25, 2015
PORTLAND, ORE. (August 25, 2015) - Explore Minnesota Director and CEO John Edman has been named national State Tourism Director of the Year for 2015. The award is voted upon annually by the U.S. Travel Association's National Council of State Tourism Directors. Edman was announced as the winner before more than 800 of his peers Monday at the ESTO annual conference of travel professionals, held this year in Portland, Ore. "Travel and tourism are a pivotal benefit to any state's economy, but it's a hyper-competitive global market for those dollars that demands an efficient and effective promotion program," said U.S. Travel Association Pres...
CEO Turnover Study 2015: A Sea of Calm Waters
Thomas Mielke, Managing Director | August 20, 2015
By: Thomas Mielke | Chris Mumford Hotel company boardrooms were more settled places in 2014 than the previous few years with only two changes in CEO occurring among the world's 50 largest hotel groups. In fact, 4% was the lowest rate of turnover we have measured since tracking Hotel CEO turnover from 2004. Turnover had been climbing steadily since the 2009 depths of the world financial crisis. That year only three companies dared to change their CEO. This rose to five new appointments in 2010 and six in 2011. It appears that 2012 may have been the crunch year where companies began to see signs of financial improvement and sought to repl...
nSight Rolls-out Next Generation Features to Intelligence Platform
nSight | August 18, 2015
Continues to Disrupt Business Intelligence Market for Hotels NASHVILLE, TN – August 18, 2015 –nSight, the leader in online consumer shopping intelligence for hotels and destinations, today announced next generation target market filters in its nSight for Hotels solutions, providing the ability for hoteliers to isolate consumer demand for future arrival dates by weekend and weekday stay patterns as well as regional source markets. The industry's most robust target market segmentation for consumer travel intent, this new filtering provides a higher level of sophistication for hotel ecommerce teams and their agencies that redefines dig...
Four Key Takeaways | 2015 Hotel Data Conference
J. Carter Allen | August 18, 2015
By J. Carter Allen Acceleration in group hotel demand and solid supply fundamentals are two factors favoring a positive outlook for U.S. hotels. Some of the nation's most respected hoteliers and hotel statisticians pitched a very optimistic outlook for the U.S. hotel industry at the 2015 Hotel Data Conference, held August 4–5 in Nashville. The term "recovery" is becoming obsolete, as the recession of 2008/09 fades further into the background. U.S. hotels, on the whole, have been coursing through an upturn unlike anything industry veterans have seen in their decades in the business, and the numbers support the continuance of this posit...
CBRE Forecasts High-end Franchising to Increase by 50% Over the Next Five Years Across Europe
August 17, 2015
August 17, 2015 - Commercial property consultant firm CBRE reports that more than 50% of all new four-star hotel deals taking place over the next five years will be under franchise rather than traditional management agreements with branded operators. The increase in high-end franchising is a result of owners wishing to retain operational control to maximize returns and hotel companies continuing to focus on asset-light strategies and increase brand distribution across Europe. Owen Pritchard, Head of Development EMEA at CBRE said: "We are going to see more and hotel companies offering franchises for their full service '4*' brands as well...
Conference Market Proves Bright Spot in UK Hotel Slowdown
HVS | August 13, 2015
13 August 2015, London: Following several years of strong growth in the UK hotels market there are now signs of a slowdown in the sector prompted largely by the weakening of the Euro, a downturn in long haul visitors and strong competition from other European cities. According to the latest Hotel Bulletin Q2 2015, published this week by HVS, AlixPartners and AM:PM, trading across the UK's hotel market is still seeing growth, albeit at a slower rate than previously. In Q3 2014 the UK hotel sector enjoyed an average regional RevPAR increase of 21% [Rooms Revenue Per Available Room is the standard industry measure of performance]. This gro...
Transaction Volume Moves Higher. Earnings Are Robust
Lodging Econometrics | August 10, 2015
August 10, 2015 - PORTSMOUTH, NH - Hotel transaction volume increased modestly in the first half of 2015 as privately held equity funds and hotel companies continued their disposition strategies. For 1H 2015 transactions and property transfers trended upward to 807 hotels caused by a substantial increase in portfolio sales. Single-asset transactions actually declined for the period and there was no M&A activity recorded. Investors are basking in the fifth consecutive year of double-digit earnings growth and although the rate of growth is slowing. They do not foresee a top-out of earnings for a least another two to three years. Howe...
Travel Employment Reaches New Record High in July 2015
U.S. Travel Association | August 10, 2015
WASHINGTON (August 10, 2015) - David Huether, senior vice president for research and economics at the U.S. Travel Association, provides analysis on Friday's Labor Department employment report and the Commerce Department export report released last week: "The travel industry continued to propel the economy forward in July, adding 13,400 travel jobs to reach a new record level of over 8.1 million. Travel continues to be a consistent job creator and strong contributor to the U.S. economy, adding jobs 17 of the last 20 months and 53,600 jobs so far this year. That's more than the 49,000 jobs added by the entire manufacturing sector so far...
Fitch Ratings: Airbnb Not a Competitive Threat to US Hotels—Yet
August 6, 2015
What U.S. Lodging Companies Are Saying Most Companies Unfazed: Most lodging companies do not view rapidly growing Airbnb, Inc. as a competitive threat to their businesses. During the second-quarter earnings call season, several companies repeated a plausible, optimistic view that Airbnb is largely creating new travel demand, primarily from millennials — a long-term positive for the travel industry. Fitch Ratings is somewhat less sanguine and notes that during this earnings season an influential hotel owner cited Airbnb directly for negatively affecting pricing power around select large, leisure-oriented group events due to some lost d...
Cuba Offers Great Opportunities and Great Obstacles, Says New Report
The Center for Hospitality Research | August 6, 2015
Ithaca, NY, August 5, 2015 - Although the U.S. embargo remains in effect, the resumption of diplomatic relations between the U.S. and Cuba opens the possibility of a vast expansion of the island's hospitality and tourism businesses. At the same time, Cuba remains an opaque nation tightly run by its central government. Those contradictions are explored in a new report from the Center for Hospitality Research (CHR) at Cornell University, "Cuba's Future Hospitality and Tourism Business: Opportunities and Obstacles." Posted on the Cornell University School of Hotel Administration website, the report is available from the CHR at no charge. W...
Domestic Tourism Boosts Israel’s Hotel Sector While International Chains Look to Develop, says HVS
HVS | August 6, 2015
06 August 2015, London: Despite Israel's ongoing geo-political instability the country's hotel sector has cause for optimism, according to a report from global hotel consultancy HVS. With a number of new properties due to open over the next four years and leisure destinations in the country remaining relatively resilient, international hotel chains are still showing an interest in the region. Smaller scale boutique hotels are proving a key trend, particularly in Tel Aviv and surrounding areas. "Visitation to Israel may have fallen, but total bed nights have declined by only 1.4%, which is not as severe as anticipated. New supply coming ...
Investing in Leisure: Exploring the Untapped Potential
Achin Khanna | August 6, 2015
By Achin Khanna and Rishabh Thapar Introduction The article evaluates the past performance and potential that leisure destinations hold for hotel development and why hotel investors must more actively look at leisure destinations across India. Travel and Tourism in India Where are the spends? India is well on its way to be the third-largest economy in the world after China and the USA and the direct contribution of Travel & Tourism to the country's GDP is forecast to grow by 7.2% per annum from `2,478.2 billion (2.2% of GDP in 2014) to `5,339.2 billion (2.5% of GDP) by 2025¹. According to the World Travel and Tourism Council (WTTC)...
Hotels Exchange Billboard Effect for Bandwagon Effect
nSight | August 5, 2015
nSight Debuts New Online Benchmarking Report at 2015 Hotel Data Conference NASHVILLE, TN – August 5, 2015 –nSight, the leader in online consumer shopping intelligence for hotels and destinations, officially introduces its new Hotel Online Traffic Report to industry leaders in travel marketing and revenue management for independent hotels, brands, management companies and ownership groups today at the Hotel Data Conference in Nashville. The "HOT Report" allows hotels to compare consumers who are searching and booking their hotel on third parties and consumers searching and booking their hotel website. Since launching the report with ...
GBTA’s Annual Forecast Predicts Global Business Travel Spending to Hit Record High of $1.2 Trillion
July 27, 2015
China Business Travel to Skyrocket By 61 percent Over Next 5 Years GBTA Identifies Five Business Travel Markets of the Future Orlando, FL – July 27, 2015 – Despite recent economic turbulence, China business travel will increase by 61 percent over the next 5 years, from $261 billion in 2014 to $420 billion in 2019. That increase is greater than the increases in business travel growth in the next 8 largest countries combined, including the U.S., Germany, India, U.K., Indonesia, France, Turkey and Japan. These findings are part of an annual travel forecast released today at GBTA Convention 2015 from the GBTA Foundation – the educati...
Marrakesh Suffers Short-Term Impact on Tourism but Long-Term Future Bright, Says HVS
HVS | July 27, 2015
July 27 2015, London: Despite becoming a popular destination over the past decade, the Moroccan city of Marrakesh is likely to be amongst those markets seeing a downturn in tourism as a result of terrorist attacks on neighbouring African and Middle Eastern countries. A new report from global hotel consultancy HVS on the hotel sector in Marrakesh, says that the city is one of those likely to suffer as negative sentiments towards Muslim countries rises amongst European markets. Already a number of large corporate congresses have been cancelled or relocated from the city, while some public events have been abandoned in response to the Ebol...
Hoteliers Celebrate Summer with Sizzling RevPAR and Leisure Booking Performance
TravelClick, Inc. | July 22, 2015
NEW YORK – July 22, 2015 – Hotels in major North American markets are continuing to experience strong growth driven by increases in average daily rate (ADR) according to data from the July 2015 TravelClick North American Hospitality Review (NAHR). Strong rates and steady bookings are leading to a significant uptick in revenue per available room (RevPAR). "Hoteliers have good reason to celebrate this summer given the encouraging trends in leisure booking pace and ADR," said John Hach, Senior Industry Analyst at TravelClick. "While our overall forecast is positive, it's very important that hoteliers focus on creating experiences throu...
