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
2016 Global Travel Price Outlook Reveals Six Global Hot Spots as Identified by GBTA
the GBTA Foundation | July 21, 2015
Demand Drives Air Travel Price Increases ALEXANDRIA, Va. and AMSTERDAM, July 21, 2015 -- New research identifies six hot spots – India, China, Colombia, Mexico, Singapore and Australia — where increased business travel demand is driving significant air price increases. This is despite global air travel prices displaying signs that they will be essentially flat in 2016. "Business travel is a leading indicator of global economic activity," said Joseph Bates, GBTA Foundation vice president of research. "The top-line pricing outlook for air, hotel and ground in 2016 is surprisingly stable. But when you dig deeper, the data reveal globa...
In Focus: Sonoma County California Hotel Market
Anurat Rojanapairat | July 21, 2015
By Anurat Rojanapairat and Ester Wan As one of Northern California's major recreational and tourist destinations, the Sonoma County hotel market is flourishing. With more available land than neighboring Napa, lower barriers to entry, and healthy demand levels, hotel supply is increasing. Less than an hour's drive north of San Francisco, Sonoma County offers nearly 60,000 acres of vineyards, 400+ wineries, rest and relaxation along the Russian River, numerous hot springs, a NASCAR raceway, and ample outdoor recreation opportunities. Bound by miles of rugged Pacific Coast along the west and Napa County to the east, the area has a long his...
Atlantis Casino Resort Spa Enlists The Rainmaker Group to Optimize Profits in Reno
Rainmaker | July 20, 2015
ATLANTA, GA - July 20, 2015 - Reno, Nevada's marquee Atlantis Casino Resort Spa - recently named the top casino outside Las Vegas by USA Today and the number one hotel in Reno per TripAdvisor.com - has called upon The Rainmaker Group for profit optimization solutions to grow its business. The AAA Four Diamond hotel, spa and gaming retreat is nestled at the base of the Sierra Nevada mountain range and enjoys exclusive Sky Bridge access to the Reno-Sparks Convention Center, complementing its own conference facilities, recently upgraded with a $100 million investment. Rainmaker is the market leader in profit optimization solutions servicin...
FCS Partners with USC Marshall to Offer Internship Program into Hospitality Business Industry
USC Marshall School of Business | July 16, 2015
Top performing University of Southern California students to take part in five-week program that fosters leadership abilities and provides knowledge of business on a global level Hong Kong - July 16, 2015 - FCS Computer Systems (FCS), a leading comprehensive hospitality solutions and services provider, has announced its support and participation with the USC Marshall School of Business Global Leadership Program (GLP), an educational initiative offered to the most academically talented incoming freshmen at the University of Southern California's business school. As part of their educational experience, selected students will be rewarded ...
Fix Aviation Infrastructure, Cut Taxes on Flyers, Travel Leaders Urge
U.S. Travel Association | July 10, 2015
Current Anti-Competitive Trend Must Be Corrected, Industry Letter Says WASHINGTON (July 10, 2015)—117 major travel-related companies and organizations are urging congressional leaders to cut taxes on air travelers and move to a user-fee model for infrastructure financing as part of the forthcoming Federal Aviation Administration reauthorization. Noting that domestic and inbound flyers spend $409 billion in the U.S. annually and support 3.4 million jobs, a letter sent Wednesday to key House and Senate transportation leaders said "the future growth and competitiveness of air travel in America is threatened by a core set of problems that...
Hotels By Day: A New Opportunity for Travelers and Hotels
Kirsten Smiley | July 7, 2015
By Kirsten Z. Smiley, July 2015 A new company envisions booking otherwise vacant hotel rooms in efficient blocks of time during the daylight hours, generating convenience for travelers and profits for hoteliers. Anyone who has faced the prospect of an international flight with an eight-hour layover in New York or San Francisco knows how valuable it is to rest in a hotel room versus a bench in an airport lobby, groggily awaiting a connecting flight. In most cases, however, that short hotel stay comes at the full overnight rate or in less-than-desirable accommodations. Launched in February of 2015, HotelsByDay.com (HBD) aims to change t...
U.S. Travel Alarmed by Airfare Collusion Allegation
U.S. Travel Association | July 2, 2015
WASHINGTON (July 2, 2015)—U.S. Travel Association President and CEO Roger Dow issued the following statement reacting to reports that the U.S. government is investigating possible collusion among major airlines to limit available seats, which keeps airfares high: "We fervently hope that the U.S. airlines targeted by the Justice Department's inquiry are cleared of these allegations. American consumers are already jaded enough about flying that we've been wondering for awhile how many more gut-punches they could absorb before we see a dip in air travel demand--and therefore a dip in the related econometrics for cities and businesses a...
Cuba: The Caribbean’s Wake-up Call
Caribbean Hotel & Tourism Association | July 1, 2015
Caribbean Governments and Private Sector Cannot Afford To Be Complacent THE CARIBBEAN (July 1, 2015) - For far too long the Caribbean has taken tourism for granted according to a white paper issued by the Caribbean Hotel and Tourism Association (CHTA) entitled Cuba: The Great Disruption for the Good of the Caribbean. The paper states that the country that many regard as the least capitalistic in the region is about to teach its neighbor governments, capitalists and free market adherents a lesson. The white paper stresses that through the years, the Governments of the Caribbean have shown a preference for revenues from commodities and ag...
National Travel Leaders: Keep ‘Choose Chicago’ Funded
U.S. Travel Association | June 29, 2015
WASHINGTON (June 29, 2015) - U.S. Travel Association President and CEO Roger Dow issued the following statement reacting to potential cuts in state funding for Choose Chicago, the organization charged with promoting the city as a travel destination: "The travel community nationwide is deeply alarmed and disappointed that the budget impasse in Springfield has resulted in the threatening of funding for Choose Chicago, the tourism marketing organization whose positive contributions to the economies and tax bases of both Chicago and the state of Illinois are absolutely beyond question. Choose Chicago is the MVP of ROI-letting its funding ...
DoubleTree San Diego-Del Mar Sold
CBRE Group, Inc. | June 26, 2015
Newport Beach, California – June 26, 2015 – CBRE Hotels has arranged the sale of the 224-room DoubleTree San Diego Del Mar. CBRE Hotels represented the seller, PHF Ruby LLC an affiliate of Fillmore Capital. The buyer is San Diego based Southwest Value Partners. Southwest Value Partners has retained Dimension Development Company as the new operating manager of the hotel, which will continue to operate under the "DoubleTree by Hilton" license. The firm will also improve the asset through targeted capital investment and a focus on providing premium hospitality services to hotel guests. The 5-story hotel property originally opened in 19...
2015 Hotel Investment and Finance Opportunities: Hotel Values and Brand Proliferation
Jim Butler | June 25, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com June 2015 Stephen Rushmore, Jr., President and CEO of HVS, speaks in the video about hotel values in the next few years, new development, and brand proliferation. Stephen spoke with David Sudeck, a senior partner in the JMBM Global Hospitality Group®, as part of our video interview series on hotel finance and investment opportunities in 2015. David Sudeck: We are at the 25th Annual Meet the Money® Conference 2015. I am happy to be here with Stephen Rushmore, President and CEO of HVS. Welcome, Stephen. Stephen Rushmore, Jr.: Good to be here. Thanks. David S...
Understanding Online Distribution Channels by Juan Duran of HVS
Juan Duran | June 24, 2015
This article covers the importance for hotels to invest in three online distribution channels – the website, Global Distribution Systems, and Online Travel Agents – to retain guests, improve hotel positioning, and gain a competitive advantage. In a period of economic uncertainty, hotel operators cannot seek to control economic conditions, but they can strategically implement marketing to increase sales and hotel profitability regardless of market uncertainty. This article summarizes the trends in three online distribution channels used in the hospitality industry: websites, Global Distribution Systems (GDS), and online travel agents...
Five Key Takeaways from the 2015 NYU International Hospitality Industry Investment Conference
Daniel P. McCoy | June 23, 2015
By Daniel P. McCoy, Sara E. Olson and Dorothy A. Jennings Encouraging news about hotel demand, investment, and new supply inspires optimism at this year's hospitality conference. Keynote speakers and workshop panelists at the 2015 NYU International Hospitality Industry Investment Conference, held June 1 and 2 at the New York Marriott Marquis, highlighted positive industry fundamentals that support a very optimistic outlook for the hotel industry. The tide of optimism spread through some 2,300 attendees from every corner of the industry. Increasing hotel supply and rising interest rates remain the most conspicuous potential stumbling blo...
Lodging Econometrics Reports Asia has Largest Regional Pipeline in the World as Construction Soars
Lodging Econometrics | June 18, 2015
June 17, 2015 - PORTSMOUTH, NH - The Total Asia Pacific Construction Pipeline is at 4,284 Projects/871,480 Rooms at the end of the first quarter. It also is the largest regional Pipeline in the world and has the highest number of projects and rooms ever recorded in any region by Lodging Econometrics. An astounding 71 percent of all projects in the Pipeline, 3,046 Projects/598,958 Rooms, are currently Under Construction. The Asia Pacific region has more rooms Under Construction than all other regions of the world combined. More than a quarter of these projects are in the Economy chain scale, a proportion much greater than observed in ot...
Strong Leisure and Group Pace Make Waves to Drive 2015 Hotel Performance
TravelClick, Inc. | June 18, 2015
NEW YORK - June 18, 2015 - Hotels in major North American markets experienced positive growth in rate and occupancy according to data from the June 2015 TravelClick North American Hospitality Review (NAHR). "As we move into the peak of the summer season, travelers are making the most of the warm weather and their budgets by shopping for the best combination of rate and overall value," said John Hach, Senior Industry Analyst at TravelClick. 12 Month Outlook (June 2015 - May 2016) For the next 12 months (June 2015 - May 2016), overall committed occupancy* is up 2.5 percent when compared to the same time last year. Average daily rate (ADR...
Low Oil Prices and Oil-Dependent Canadian Lodging Markets
Jason Wight | June 11, 2015
By Jason Wight Jun 11, 2015 Helping Investors Understand Oil-Dependent Lodging Markets in Canada. After three years of stable oil prices, the energy sector was thrown into a tailspin when oil prices plummeted in the second half of 2014—dropping about 40% in a very short time. This rapid decline is having a profound impact on Canadian lodging markets that depend on lodging demand from oil production. For these markets, the low price of oil presents significant operational challenges. Lower demand means lower revenues. Moreover, the preceding era of high oil prices—and the robust lodging demand associated with those high prices—last...
Western Europe Business Travel Spend on Solid Footing, Growth Expected in 2015 and 2016
June 11, 2015
Spain Surprises With Strong Business Travel Performance in 2014 LONDON, June 11, 2015 -- The GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA), today announces the results of its latest GBTA BTI™ Outlook – Western Europe report, a semi-annual analysis of the five most critical business travel markets in Europe: Germany, the UK, France, Italy, and Spain. These five markets serve as a good barometer of the health of the entire European business travel market. The report, sponsored by Visa Inc., includes the GBTA BTI™, a proprietary index of business travel spending that distills market ...
Top 10 U.S. Destinations for Summer Travel from Europe
nSight | June 4, 2015
Fueled by Strong UK Demand, Travel Search from Europe to the U.S. Up 20%+ NASHVILLE, TN – June 4, 2015 – nSight, the leader in online consumer shopping intelligence for the travel industry, today announced the top destinations for summer leisure travel from Europe to the U.S. With consumer search on travel sites as a leading indicator for travel bookings on third parties and direct channels through the summer, the top 10 U.S. destinations for summer European travel represent almost 300 million online searches from June 1 – August 30, up 23.5% over last year. nSight captures millions of hotel searches and bookings daily across 5,00...
HVS Releases 2015 U.S. Hotel Valuation Index
June 2, 2015
HVS, the world's leading hospitality consulting and valuation firm, in collaboration with Smith Travel Research, is pleased to deliver the 2015 U.S. Hotel Valuation Index (HVI). Mineola, New York: HVS, the world's leading hospitality consulting and valuation firm, in collaboration with Smith Travel Research, is pleased to deliver the 2015 U.S. Hotel Valuation Index (HVI). The HVI offers critical information on 65 U.S. hotel markets and the nation, including: Hotel value changes and projections through 2018 Intelligence on market dynamics for primary, secondary, and tertiary hotel markets Each year, more than 200 HVS hotel experts c...
HVS Perspectives on the All-Inclusive Product
Kristina M. D'Amico | June 1, 2015
By Kristina M. D'Amico Today's rising popularity of all-inclusive resorts is directly correlated to the value proposition for the guest. The resorts that offer customized products and services with personalized experiences are beneficial to both the owner and the customer. It is true that the long-held perception of the all-inclusive resort was fraught with thoughts of average quality accommodations, long buffet lines, and mediocre food. However, the industry has recently trended to a far more upper-upscale and even luxury vacation experience offered by the all-inclusive segment, with prices remaining extremely reasonable for the luxury...
Fitch Ratings: US RevPAR Forecast Boosted to 7% on Stronger Occupancy
June 1, 2015
Watch the video: U.S. Lodging Cycle Concierge Fitch Ratings - New York - 01 June 2015: Fitch Ratings has increased its 2015 US lodging industry RevPAR growth forecast to 7% from 6%, primarily reflecting the measure's YTD performance and moderately higher assumed employment growth. Year-to-date US RevPAR growth of 7.5% through April on stronger occupancy gains exceeded our expectations. The outlook remains excellent for lodging fundamentals through the balance of the year as Fitch expects GDP growth to accelerate to 3.1% in 2015. Interest rates are still at or near historically low levels, consumer confidence and labor markets are improv...
Bright Outlook for Hotels This Summer Travel Season
TravelClick, Inc. | May 27, 2015
Hoteliers Advised to Focus on Early Reservation Opportunities to Capture Seasonal Demand NEW YORK - May 27, 2015 - Hotels in major North American markets experienced positive growth in rate according to data from the May 2015 TravelClick North American Hospitality Review (NAHR). TravelClick's data also reports that three quarters of the 25 markets measured are experiencing increases in committed occupancy and 90 percent are experiencing increases in average daily rates (ADR). "There is a bright outlook for the coming summer travel season as we're seeing strong year-over-year increases in the group, business and transient segments. To p...
PKF’s 2015 Trends® in the Hotel Industry Results – a Video Report
PKF Hospitality Research, a CBRE Company | May 21, 2015
Robert Mandelbaum, Director of Research Information Services, discusses the results of PKF Hospitality Research, a CBRE Company's Trends® in the Hotel Industry annual report. Robert explains how hotel operators are managing expenses and growing revenue in a time of "peak persistence" in the current industry cycle. ...
Four Key Takeaways | Meet the Money 2015
Susan Furbay | May 19, 2015
By Susan Furbay, Li Chen and Luigi Major Hoteliers and financiers met in Los Angeles to discuss the pitfalls and possibilities for U.S. hotel investment as the industry continues its upturn in performance. As hoteliers from coast to coast convened in Los Angeles, it was clear that 2015 is indeed the year to "Meet the Money." Hotel professionals remain confident that the upturn in the industry will carry on throughout this year and into several more. This enthusiasm about performance is kept not just by hotel owners and developers, but by traditional lenders and alternative capital providers as well; however, it does not come without ca...
