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
Average Daily Rate Growth Helps Hoteliers Spring into March
TravelClick, Inc. | March 24, 2015
Hoteliers Advised to Continue to Monitor Their Local Markets NEW YORK - March 24, 2015 - Hotels in major North American markets are continuing to experience growth driven by strong rates, according to data from the March 2015 TravelClick North American Hospitality Review (NAHR). While hotels continue to experience steady growth, group sales have decelerated. "We're finally moving out of the doldrums of winter into the spring but the cold weather has had an adverse effect as group sales pace has continued to decelerate from the strong gains sustained throughout most of 2014," said John Hach, Senior Industry Analyst at TravelClick. "The c...
Canadian Resort Development Association Adds Two to Board of Directors
Canadian Resort Development Association (CRDA) | March 20, 2015
SOUTH SURREY, BC (March 20, 2015) - The Canadian Resort Development Association (CRDA) has added two seasoned vacation ownership/timeshare professionals to its Board of Directors. According to Jon Zwickel, President and CEO of CRDA, says "We are proud to welcome Tom Carney and Lucie Gagné to our distinguished Board of Directors. As we embark on a new path, the insight and guidance of these two new board members will be welcomed along with the rest of our highly regarded Board of Directors who represent the Canadian Vacation Ownership industry by sector and geographically." Tom Carney, has been in the timeshare industry for 25 years. He...
The Rainmaker Group Acquires Revcaster LLC
Rainmaker | March 16, 2015
Rainmaker's Total Hospitality Revenue Management Solution Suite Strengthened ATLANTA, GA- March 16, 2015 - The Rainmaker Group announced today it has acquired Revcaster LLC, the leading hospitality market intelligence, rate shopping and analytics solution. The acquisition and addition of the Revcaster™ solution expands and strengthens Rainmaker's product suite, providing the most comprehensive revenue management suite to traditional hotels, casino hotels, and resort hotels. The only solution that also solves for competitive rate shopping. Amar Duggasani, Chief Strategy Officer at The Rainmaker Group, said "The Revcaster acquisition i...
GBTA Study Finds Global Hotel Programs Don’t Fit “Cookie-Cutter” Mold
the GBTA Foundation | March 12, 2015
Travel Managers Design Programs According to Regional Scope, Specific Needs ALEXANDRIA, Va., March 12, 2015 -- There is no "cookie-cutter" or one-size-fits-all global hotel program in Latin America and Asia Pacific, according to a new study by the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA). Travel Managers may design or adapt their program according to their own regional scope or specific needs. The Best Western-sponsored study, "2015 Global Hotel Program Study: Asia Pacific and Latin America," surveyed online Travel Managers in these regions in order to characterize global hotel pro...
Equity Funds Were the Most Active Investors in Hotels in the U.S. During 2014 at $7.4 Billion
Lodging Econometrics | March 12, 2015
MARCH 13, 2015 - PORTSMOUTH, NH - Lodging Econometrics reports that for hotels with a reported selling price, investment totaled $22 billion in the United States. Equity funds were the most active investors in 2014 adding $7.4 billion in hotels, most of which were portfolio purchases. Publicly traded REITs were the next biggest acquirers. They invested $6.4 billion, primarily focusing on high-profile single assets divested by privately held hotel companies. Although on balance they were net-sellers in 2014, privately held hotel companies were also significant buyers, investing $4.4 billion, mostly in single assets and smaller portfolios...
Hotel Investment Tops $30 Billion in 2014; Average Per Room Cost was $156,002, up 20.6% YOY
Lodging Econometrics | March 9, 2015
MARCH 9, 2015 - PORTSMOUTH, NH - Lodging Econometrics reports that In 2014 total investment in the lodging industry was an estimated $30.8 billion. Of the 1,292 hotels that were transacted 935 reported a selling price into the public domain. The average selling price per room for those hotels was $156,002, up a dramatic 20.6% Year-Over-Year (YOY). The healthy increase in selling prices is due to record-setting hotel revenues and profits, low interest rates and the availability of attractive financing terms. LE foresees selling prices continuing to accelerate for the next several years as hotel performance continues to shine in the abse...
Following 2011’s 75% Decline in New Hotel Openings, Trend Expected to Break by End of Decade Says LE
Lodging Econometrics | March 5, 2015
MARCH 5, 2015 - PORTSMOUTH, NH - Lodging Econometrics reported that new hotel supply growth bottomed in 2011 with the opening of only 347 Hotels/37,404 Rooms. The bottom in 2011 concluded a precipitous 75% decline in New Hotel Openings from a peak of 1,341 Hotels/154,257 Rooms established in 2008 at the onset of the Great Recession. Since then, new supply growth has been slow and incremental. New Hotel Openings were a paltry 412 in 2012, 488 in 2013 and 557 hotels with 63,352 rooms in 2014. LE forecasts that just 726 new hotels will open in 2015 and 797 hotels in 2016. The sharpness of the decline and the prolonged nature of the econom...
US Pipeline Breakout is Accelerating Reports Lodging Econometrics
Lodging Econometrics | March 3, 2015
MARCH 3, 2014 - PORTSMOUTH, NH - Lodging Econometrics reports that with 3,645 Projects/460,551 Rooms the 2014 Total US Construction Pipeline stands at its highest level in six years. After a three-year bottoming formation, the Pipeline has now posted five consecutive quarters of double-digit Year-Over-Year (YOY) growth. In both the third and fourth quarters increases were particularly impressive, exceeding 20%. Although the breakout might appear robust, Pipeline totals are still a long way from the peak of 5,438 Projects/718,387 Rooms set in 2007. Projects Under Construction, the most important predictor of near-term supply growth, has...
Scale of China Outbound Travel Opportunity Revealed in Report from IHG & Oxford Economics
IHG (InterContinental Hotels Group) | March 3, 2015
London, New York, Los Angeles, Sydney and Tokyo Expected to Benefit Most LONDON, UK, 3rd March, 2015: InterContinental Hotels Group (IHG®), one of the world's leading hotel companies, has partnered with Oxford Economics to publish one of the most comprehensive studies into the Chinese travel market ever undertaken. The report reveals the scale of the opportunity for global travel destinations to benefit from shifting patterns in Chinese travel, with London, New York, Los Angeles, Sydney and Tokyo expected to benefit most. Published today, The Future of Chinese Travel report shows that favourable economic and demographic trends shaping ...
Hotel Values Rise Across Europe with Madrid Seeing Biggest Hike, Says HVS Hotel Valuation Index
HVS | March 2, 2015
02 March 2015, London: Europe's hotels witnessed their fifth consecutive year of value growth last year, with properties in the UK and Southern Europe seeing some of the biggest gains, according to the 2015 European Hotel Valuation Index, published this week by global hotel consultancy HVS. "Hotels in several cities have experienced significant value increases including Manchester and Birmingham which have both seen double digit growth following improved performance and growing investor interest," said report co-author James Heavey, analyst, HVS London. The city with the biggest value climb was Madrid, with an impressive 14% rise year-o...
Average Daily Rate Continues to Propel Hotel Performance in Early 2015
TravelClick, Inc. | February 26, 2015
Hotels See Decline in Group Pace but RevPAR Performance Remains Strong NEW YORK - February 26, 2015 - Hotels in major North American markets continued to maintain positive growth in rate across all travel segments according to data from the February 2015 TravelClick North American Hospitality Review (NAHR). Overall, average daily rate (ADR) growth continues to be the metric for growth, requiring hotels to be vigilant in monitoring their local markets. "As travelers deal with the deep freeze of the winter months hoteliers come to rely on ADR to drive hotel performance and sustain positive revenue per available room (RevPAR)," said John H...
Lower Oil Helps, Strong Dollar Hurts US Lodging Industry says Fitch Ratings
Fitch Ratings | February 25, 2015
Fitch Ratings-New York-25 February 2015: A strong dollar could pressure visitation to the US while the drop in oil prices will likely provide a net benefit to domestic lodging demand, according to Fitch Ratings. The strong dollar raises acquisition costs for foreign buyers in their local currency. However, the appeal of hotel assets may increase if foreign investors anticipate further dollar gains, which could boost returns from price appreciation when profits are taken and converted back into the investor's local currency. We expect currency translation losses caused by US dollar strength to temper systemwide RevPAR growth for most lod...
Renewed Investor Interest Prompts 86% Rise in Europe’s Hotel Deals
HVS | February 24, 2015
24 February 2015, London: Hotel real estate was the star performer in Europe's property market in 2014 with transaction volumes growing faster than other asset classes such as office, industrial or retail space. According to the annual European Hotel Transactions report, published this week by HVS and its brokerage and investment services division HVS Hodges Ward Elliott, last year saw European hotel transaction volumes rise to a total of €14.4 billion, up 86% on 2013 - a new record since the onset of the global financial crisis. Renewed interest in the hotels market has been driven by the comparatively attractive income returns hotel...
Sales Tax Audit!
Kirby D. Payne | February 23, 2015
By Kirby D. Payne, Feb 20, 2015 This description of a sales tax audit is an opportunity to minimize potential problems with sales taxes. While focused on Minnesota much of it applies to any state with sales taxes. Do not construe this article as legal or tax advice. I am a believer that the best kind of bad experience is second hand. This article is your opportunity to have a second hand bad experience and minimize your own potential problems with sales taxes. While this happened in Minnesota much of it applies to any state with sales taxes. This article can give the reader ideas as to items to inquire about in each state where your com...
PolyU Study in Macao Finds Differences Between Gamblers from Mainland China, Hong Kong and Taiwan
PolyU's School of Hotel and Tourism Management | February 23, 2015
Findings Can be Applied to Enhancements in Customer Service 23 February 2015 - Chinese casino customers in Macao display important subcultural differences across a range of behaviours. In a published research article, Dr Samuel Seongseop Kim of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University and his co-authors discuss the observations of long-time casino staff members in Macao who described variation between gamblers from mainland China, Hong Kong and Taiwan. By understanding these differences and becoming familiar with the profiles of the three groups of gamblers, "the managers of Macao's casin...
Demand, Development, and Branding of University Hotels
Mike Brophy | February 19, 2015
by Mike Brophy, February, 2015 On- and off-campus hotels in a university market have to negotiate a collection of demand generators that are active at different times, and in different segments, throughout the year. We break down what developers and hoteliers should know. Interest has risen in recent years in developing or reviving hotels in college and university markets across the U.S., and for good reason. Colleges and universities are among the most rooted institutions in their given communities, stabilizing forces sometimes going back hundreds of years. They also directly and indirectly generate economic activity through business s...
Fitch Ratings: US Lodging Upcycle Shows Continued Strength
Fitch Ratings | February 19, 2015
Fitch Ratings - New York-19 February 2015: The year-over-year change in TTM RevPAR has been positive for 53 sequential months during this US lodging upcycle through January 2015, according to Fitch Ratings. This represents less than half of the duration of the 112-month recovery that began in the early 1990s. And although closer in duration to the 65-month recovery that started in the early 2000s, Fitch expects further RevPAR gains over the next 1-3 years based on its review of key lodging cycle indicators. Accelerating GDP growth (led by private investment and personal consumption expenditures) and limited new supply support Fitch's ou...
In Hotels, Health Equals Wealth
the authors | February 19, 2015
By Andrea Foster and Jenna Finkelstein Business is back for hotels across the United States with occupancy levels surpassing long-run averages and hotels raising room rates more aggressively. According to PKF Hospitality Research (PKF-HR)'s forecast, occupancy is estimated to be above the long-run average in 49 of the 55 U.S. markets they track, 14 of which are achieving their highest occupancy levels in the past 25 years. By 2015, the U.S. lodging industry will experience six consecutive years of increasing occupancy, the most since 1988. The hotel industry has finally climbed out of the recovery period following the Great Recession as...
Double Digit Growth for UK’s Hotels, but Room Rates Beginning to Plateau, says HVS Hotel Bulletin
HVS | February 12, 2015
12 February 2015, London: The UK's hotels saw average RevPAR grow by double digits in the last trading quarter of 2014, according to the latest Hotel Bulletin: Q4 2014 published this week by HVS, Zolfo Cooper and AM:PM. The Bulletin reveals hotels across 12 key UK cities surpassed pre-downturn RevPAR (revenue per available rooms) with a 19% average year-on-year increase. Only Belfast, Birmingham and Newcastle were marginally short of this goal. "The strong performance by UK hotels should have resulted in improved profitability and helped to boost values. We would expect this to be sustained throughout 2015 and potentially beyond with th...
Destination Hotels Taps Revcaster for Rate Shopping Tools
Revcaster | February 11, 2015
Same Day Comp-Set Rate Visibility Drives Optimized Rates and OTA Parity Across Destination Hotels Portfolio PORTLAND, OR - February 11, 2015 - Destination Hotels announces the implementation of Revcaster's rate shopping tools. Destination Hotels (Destination) is the largest operator of independent hotels and resorts in North America and is consistently ranked by Hotel Business as one of the top ten hospitality and property management companies in the country. Revcaster maximizes ADR based on same-day competitive rate information for Destination and establishes rate parity across OTA channels. Revcaster is the trusted leader in flexible,...
JLL’s Hotel Investment Outlook Predicts Global Hotel Sales to Reach 8-Year High of US$68B in 2015
JLL's Hotels & Hospitality Group | February 10, 2015
Chinese Capital to Solidify its Mark on the Global Hotel Market February 10, 2015 - JLL's hospitality experts project that global hotel transaction volumes will reach an eight-year high between US$65 to US$68 billion in 2015, representing a 15 percent increase over 2014 volumes. JLL's forecast is based on the firm's 2015 Hotel Investment Outlook, a forward-looking, global analysis that tracks key factors affecting the hotel investment market. "The hotel market continues to strengthen and investors are eager to chase after top hotel deals," said Mark Wynne-Smith, Global CEO, JLL Hotels & Hospitality. "We predict a rise in revenue pe...
Five Key Takeaways from Americas Lodging Investment Summit
Tanya J. Pierson | February 10, 2015
By Tanya Pierson, MAI; Brett Russell, and Susan Furbay Presentations and conversations at the 2015 ALIS conference touched on everything from new brands and supply to how falling oil prices, a rising dollar, and stability in the capital markets are affecting prospects for U.S. hotels. The Coming Horizons for U.S. Hotels The U.S. hotel industry stands on solid ground as we enter 2015, and this year's Americas Lodging Investment Summit (ALIS) engendered confidence that the strong performance should carry on well into next year. Beyond that, however, questions remain, and nearly everyone in attendance was concerned with how long this perfo...
TravelClick Hosts Complimentary Webinar on Q4 Global Hotel Industry Performance
TravelClick, Inc. | February 5, 2015
2014 Recap and What Lies Ahead in 2015—Winning Inventory Strategies Throughout The New Year NEW YORK (February 5, 2015) - TravelClick, global provider of innovative cloud-based solutions that enable hotels to grow revenue, will present three free webinars on February 18 and 19 to review fourth quarter 2014 hotel performance results and trends. Findings will be presented by TravelClick experts John Hach, Senior Vice President, Global Product Management, and Alexis Welner, Senior Director of Global Enterprise Business Intelligence. Alexis and John will provide a comprehensive update on Q4 global and local hotel performance and future in...
WayBlazer Announces Appointment of Felix Laboy as New Chief Executive Officer
WayBlazer | February 4, 2015
Former President of Sabre Hospitality Solutions joins to drive accelerated growth AUSTIN, TX - February 9, 2015 - WayBlazer, a travel search and insights company, today announced the appointment of Felix Laboy as Chief Executive Officer. "Having Felix on our team is the next major step in the evolution of WayBlazer," said Terry Jones, chairman. "Felix's strong track record in building and scaling travel businesses along with his deep travel experience is just the right mix to lead our company forward." WayBlazer is developing intelligent discovery solutions that deliver contextual, personalized advice and insights for consumers across a...
