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
Events Pushed Brisbane Hotel Performance to September Highs
CoStar Group | October 17, 2024
WASHINGTON – 17 October 2024 – Events pushed Brisbane hotel average daily rate (ADR) and revenue per available room (RevPAR) to all-time highs for September, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. September 2024 (year-over-year % change): Occupancy: 78.5% (+3.3%) ADR: AUD236.64 (+1.7%) RevPAR: AUD185.82 (+5.0%) Noteworthy nights for hotels occurred during the Brisbane Festival, Brisbane Lions elimination AFL final, and consistent events at the Convention Centre. On Saturday, 7 September...
Fodor’s Travel Names the 100 Most Incredible Hotels in the World for 2025
Fodor's | October 17, 2024
LOS ANGELES, Oct. 17, 2024-- Fodor's Travel, the leading name in travel recommendations for over 85 years, today announced the 2025 edition of its Fodor's Finest: The Most Incredible Hotels in the World list and detailed an all-new guidebook exploring the best wineries, breweries, and distilleries in the United States. 2025 Fodor's Finest: 100 Hotels We're Obsessed With This year's Fodor's Finest list consists of 100 extraordinary hotels around the world, hand-picked by Fodor's editors with input from 750 hotel experts from all corners of the globe – and absolutely no sway or sponsorship from outside parties. Counter to many ot...
Travelers in the Caribbean and Latin America Prioritize Wellbeing and Seek Authentic Experiences, New Marriott International Survey Reveals
Marriott International | October 17, 2024
The survey reveals key travel trends for 2025, highlighting the importance of sustainable tourism, personalized experiences, and the enduring allure of all-inclusive resorts. Plantation, Fla. – October 17, 2024 – A new survey of travelers in the Caribbean and Latin America (CALA) reveals insightful data about travel aspirations, priorities, and emerging trends for 2025. The survey, conducted by Marriott International CALA in partnership with the market research firm Appinio, provides a comprehensive look at the evolving travel landscape across generations, offering valuable insights for travel providers and industry stakeholder...
UK’s Premier Inn Owner Whitbread Enjoys Bookings Boost After Lower Profits
Premier Inn | October 17, 2024
By Shanima A (Reuters) -Bookings at British hotel group Whitbread are picking up for the holiday season, the company said on Wednesday, after reporting a fall in first-half profit. Whitbread shares rose more than 4% in early trade after the group, which also owns restaurant and pub chains such as Beefeater and Bar+Block Steakhouse, raised its interim dividend and announced a share buyback programme worth 100 million pounds ($129.95 million). "After a slightly softer start in September we've seen trading pick back up and we're outperforming the market," CEO Dominic Paul told Reuters. UK revenue per available room (RevPAR) - an important me...
Berlin Hotels Posted All-Time High Performance for September
CoStar Group | October 16, 2024
WASHINGTON – 16 October2024 – The 2024 International Trade Fair for Transport Technology (InnoTrans) pushed Berlin’s monthly average daily rate (ADR) and revenue per available room (RevPAR) to all-time highs, according to September preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. September 2024 (year-over-year % change): Occupancy: 85.4% (+1.4%) ADR: EUR177.49 (+18.4%) RevPAR: EUR151.60 (+20.1%) In addition to the monthly records in ADR and RevPAR, Berlin’s occupancy was at its highest point since Septe...
Unpack 2025: The Trends in Travel from Expedia, Hotels.com, and Vrbo
Expedia Group | October 16, 2024
TORONTO--Today, Expedia Group unveiled Unpack ’25, the annual data-driven outlook for what’s motivating travellers and where they plan to go next year. Expedia Group analyzed first-party travel data insights from 25,000 travellers, and the latest industry innovation to ‘unpack’ eight noteworthy travel trends for 2025 that include Detour Destinations, Hotel Restaurant Renaissance, and JOMO (Joy of Missing Out) Travel and One-Click Trips, which will take travellers from looking at their next trip on Instagram or TikTok to booking it. “Expedia Group continuously works to blend technology with travel, making journeys simpler and m...
United States Leads as Top Source of International Travelers to India for Diwali Celebrations
Agoda | October 16, 2024
New Delhi, 16th October 2024 - Digital travel platform Agoda reveals the top searched cities in India for Diwali celebrations, with New Delhi coming out on top among international visitors. Goa takes the top spot for domestic travel based on searches made for check-in during the Diwali week celebration. Agoda noted 17% more accommodation searches for Diwali compared to last year’s celebrations. Diwali, the Festival of Lights, is one of India's most significant festivals, celebrated with grand festivities, vibrant lights, and cultural events. The festival symbolizes the victory of light over darkness and good over evil, attracting both ...
ITA Data Release: August 2024 International Inbound Visitor Spending
National Travel and Tourism Office | October 11, 2024
International Visitors Spent $21.5 Billion in August 2024 Data recently released by the National Travel and Tourism Office (NTTO) show that in August 2024: International visitors spent $21.5 billion on travel to, and tourism-related activities within, the United States during the month of August, an increase of more than 11 percent compared to August 2023. Conversely, Americans spent more than $20.6 billion traveling abroad during August, yielding an $865 million balance of trade surplus for travel and tourism-related goods and services. International visitors have spent more than $168.6 billion on U.S. travel and tourism...
Business Travel Set to Surpass Pre-Pandemic Levels to Reach a Record US$1.5 Trillion in 2024
The World Travel & Tourism Council | October 11, 2024
Perth, Australia: A new report from the World Travel & Tourism Council (WTTC) has revealed that business travel is set to surpass pre-pandemic levels this year, faster than previously predicted, to reach a record US$1.5TN. The rise of remote working during the pandemic had a disproportionate effect on corporate travel, compared to leisure travel, with virtual platforms replacing face-to-face meetings. Last year, leisure travel was just 2.9% behind the 2019 peak, whilst business travel continued to struggle, remaining 5.4% behind. But as business leaders re-emphasised the importance of face-to-face interaction, business travel is ...
Auckland Hotel Booking Levels Topping 80% for Upcoming Coldplay Concerts
CoStar Group | October 11, 2024
WASHINGTON – 11 October 2024 – Auckland hotel booking levels are as high as 84% for Coldplay’s ‘Music of the Spheres’ World Tour next month, according to data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Over the course of October and November, Coldplay is set to perform 11 times across three markets in the region: Melbourne, Sydney, and Auckland. As of 30 September, Auckland was showing the highest levels in occupancy on the books, peaking at 84.1% for Friday, 15 November. That represents a 33.9% increase from the same time last ...
U.S. Hotel Results for Week Ending 5 October
CoStar Group | October 11, 2024
WASHINGTON – 11 October 2024 – Due to Rosh Hashana, the U.S. hotel industry reported negative year-over-year comparisons, according to CoStar’s latest data through 5 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 29 September through 5 October 2024 (percentage change from comparable week in 2023): Occupancy: 65.6% (-3.4%) Average daily rate (ADR): US$156.25 (-4.4%) Revenue per available room (RevPAR): US$102.44 (-7.7%) Among the Top 25 Markets, Tampa saw the highest year-over-year increases in occupancy (+24.1% to 81.3%) and RevPAR (...
European Hotel Transaction Volumes Increased by 123% in the First Half of 2024
Maxime Gauthier | October 10, 2024
Coming out of a high-inflation, high-interest-rate environment, which negatively impacted hotel transactions in Europe in 2023, transaction activity increased to the highest levels since 2019 in the first half of 2024. Reaching €10.6 billion, the total volume transacted increased by 123% year-on-year, already reaching the total volume for the whole of 2023. There were 20% more transactions this semester, with a decrease of 11% in the number of rooms per hotel, translating into a 30% increase in price per room over H1 2023. General Commentary Transaction volumes were quite evenly spread over the semester, with January...
Oceania’s Travel & Tourism Sector Could Boost Region’s Economy by US$112BN Over the Next Decade
World Travel & Tourism Council (WTTC) | October 9, 2024
Perth, Australia: A new report by the World Travel & Tourism Council (WTTC) reveals that Oceania’s Travel & Tourism sector could inject an additional US$112BN to the region’s economy by 2034, bringing the total contribution to a record-breaking US$ 336BN. According to the report, in collaboration with VFS Global and launched today at WTTC’s 24th Global Summit in Perth (Boorloo), Western Australia, this boost could also support an extra 1.1 million jobs, raising the total employment in the region supported by Travel & Tourism to 3.5 million by 2034. The report, “Unlocking Opportunities for Travel & Tourism Grow...
Market Snapshot: Asia Pacific 2024
Hok Yean CHEE | October 9, 2024
In 2023, hotel transaction volume in the Asia Pacific recorded approximately USD11.7 billion, a 12% decrease from USD13.3 billion from the previous year. The decline in transaction activity can be attributed to the high interest environment, buyer and seller price expectation gap, and a lack of suitable or available hospitality assets in the market. Australasia (Australia and New Zealand), as well as Southeast Asia, observed decreases of 20% and 56% in transaction volume, respectively. However, the trailing 12 months have shown positive signs, with total transaction volume recording a 17% increase, reaching approximately USD12.1 billion. Thi...
Future of Business Travel To Be Shaped by Demographic Shifts and Global Volatility by 2040
The Global Business Travel Association | October 8, 2024
CWT and GBTA release special supplement report titled “2040: Baseline, Boom, or Bust” offering a comprehensive analysis of factors that will shape corporate travel strategies and business travel’s future The business travel industry is on the cusp of a major transformation, driven by a convergence of technological advancements, evolving sustainability requirements, and shifting demographic trends. To commemorate the recently released 10th edition of their Global Business Travel Forecast report, CWT and the Global Business Travel Association (GBTA) have produced a special supplement titled 2040: Baseline, Boom, or Bust...
Golf Revenue: Above PAR and POR for Hotels
Robert Mandelbaum | October 7, 2024
Throughout the latter part of the 20th century, golf was growing significantly in the United States. Not only was participation soaring, but new golf courses were being built at a record pace. In some years, development activity exceeded 400 new courses. The popularity of golf began to decline around 2000, as the tech bubble recession that began in 2001 slowed the pace of growth during the first few years of the decade. Annual declines in the number of rounds played started in 2006, and participation in the sport weakened further in 2007 and 2008 as the Great Financial Crisis sapped discretionary expenditure funds from the prototypical golfe...
ITA Data Release: July 2024 Total International Travel Volume
The International Trade Administration | October 7, 2024
In July 2024, International Visitor Arrivals to the United States totaled 6,899,661, An increase of 6.8 percent Compared to July 2023 Outbound Travel Departures From the United States by U.S. Citizens Totaled 11,265,662 in July 2024, An Increase of 5.8 percent Compared to July 2023 Data recently released by the National Travel and Tourism Office show that in July 2024, International Arrivals to the United States: Total non-U.S. resident international visitor volume to the United States of 6,899,661 increased 6.8 percent compared to July 2023, representing 89.6 percent of the pre-COVID total visitor volume reported for July 2019. ...
September 2024 Hotel Industry Outlook: Anticipating Accelerated Growth
Anne R. Lloyd-Jones | October 4, 2024
After twelve months of declining occupancy and improving ADR from April 2023 through March 2024, the U.S. lodging market appears to have entered a period of relative stability, with changes in both metrics more subdued than in the recent past. However, as with most averages, these aggregate results comprise notable variations among individual markets and lodging segments. The meeting and group segment continues to increase, supported by both improving convention activity and continued growth in corporate group meetings and events. These trends are particularly beneficial to the luxury and upper-upscale segments of the market, as well as in...
U.S. Hotel Results for Week Ending 28 September
CoStar Group | October 3, 2024
WASHINGTON – 3 October 2024 – The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 28 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 22-28 September 2024 (percentage change from comparable week in 2023): Occupancy: 68.4% (+2.6%) Average daily rate (ADR): US$170.24 (+7.5%) Revenue per available room (RevPAR): US$116.50 (+10.2%) Among the Top 25 Markets, New York City saw the highest year-over-year increases in each of the key performance metrics: occupancy (+11.4% to 93.2%)...
London Market Pulse 2024 – Investor Confidence Renewed
Cassandre Pene | October 3, 2024
Owing to its rich cultural heritage, prestigious educational institutions and wide range of attractions across fashion, media and sports, London is a key destination for international visitors. In addition, its strong influence as a financial centre and a hub for technology and innovation defines it as a leading market in terms of hospitality and hotel investment. Despite its size, London’s accessibility through various international airports as well as the Eurostar high-speed rail service facilitates travel, ensuring a steady influx of both leisure and business travellers. These factors are expected to drive London’s continued success a...
Hotel Performance Outlook for Denver: Growth Picking Up Through 2026
Katy Black | October 2, 2024
For Denver hotels, the first five months of 2024 were somewhat volatile, with March declines being offset by April gains. This trend can be partially attributed to Easter falling in March this year. After two months of RevPAR declines in Denver in June and July, August was a stellar month for the city’s hotels, with the RevPAR increase nearing 10%. However, the declines in June and July resulted in little growth for the city in the summer of 2024, as overall RevPAR growth through August is less than 0.5%. No significant changes in the fourth quarter will likely result in little to no RevPAR growth in Denver from 2023 to 2024. This nomina...
Small Pickup in Global Markets With RevPAR Growth, Special Events Continue to Move the Needle
STR | October 1, 2024
STR's global "bubble chart" update for the four weeks ending 21 September 2024 shows 63% of markets with year-over-year growth in revenue per available room (RevPAR). That was a two-point increase in the proportion of global markets experiencing matched period RevPAR gains in last month's update. — Source: STR Among countries with 50,000 rooms and sufficient hotel reporting levels, France, Greece, Singapore, Switzerland and Ireland posted the highest RevPAR on an actualized basis. That was mostly the same set of higher-priced countries as last month except for Singapore replacing Ireland. Greece led all nations with the highest ...
The Impact of Natural Disasters on Hotel Occupancy in Florida
Allison Fogarty | October 1, 2024
By Allison Fogarty For years, I’ve analyzed sharp fluctuations in hotel occupancy levels across several Florida markets, and one recurring explanation has been “disaster recovery.” In regions prone to hurricanes, fires, and floods, disaster recovery can significantly boost demand for hotels, even as some properties suffer damage or destruction. In the aftermath of Hurricane Helene, it's a timely reminder for lodging developers and analysts that the hospitality industry often experiences contrasting outcomes: while some hotels are devastated, others see a surge in demand. The Aftermath of Hurricane Helene Hurricane Helene touched grou...
Boston and Cambridge Lodging Market: Navigating Post-Pandemic Realities and Future Prospects
Rachel Roginsky | September 25, 2024
By Rachel Roginsky, ISHC The Boston and Cambridge lodging market, one of the most vibrant and dynamic in the United States, has undergone significant changes in recent years. These changes, spurred by external factors like the COVID-19 pandemic, economic fluctuations, and evolving consumer preferences, have created a complex landscape for hoteliers and investors alike. This article delves into the current status of the Boston/Cambridge market, examines historical data and trends, and offers short term projections for the future. Historical Overview: A Market Shaped by External Forces Pre-Pandemic Growth and Resilience (2015-2019) In the y...
