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
Despite RevPAR Dip, GOPPAR Gains at U.S. Hotels in June
HotStats | August 5, 2019
Revenue and profit aren't always simpatico. Check out what was up and what was down for U.S. hotels in June. Illustrating that revenue per available room and profit don’t always move lock and step, RevPAR at U.S. hotels in June declined year-over-year, but the drag did not bring down GOPPAR with it, according to the latest data tracking full-service hotels from HotStats. The result: RevPAR decreased 0.5% YOY to $175.14, while GOPPAR was up 0.9% to $113.10. Declining room occupancy, down 1.1 percentage points, was the likely culprit as achieved average room rate was up 0.8% YOY. Where, then, was the growth derived? Hotels in the ...
Marriott Tops Leading Companies in The U.S. Hotel Construction Pipeline Followed by Hilton and IHG
Lodging Econometrics (LE) | August 5, 2019
PORTSMOUTH, NH -- August 5, 2019 -- In the Lodging Econometrics (LE) second quarter report for 2019, the franchise companies leading the United States hotel construction pipeline are Marriott International with 1,469 projects/193,458 rooms, up 9% by projects and rooms year-over-year (YOY). Next, coming off of last quarter’s all-time high, is Hilton Worldwide currently at 1,372 projects/152,853 rooms, a 3% increase YOY. InterContinental Hotels Group (IHG) follows with 962 projects/97,647 rooms, also up 3% by projects and rooms, YOY. The leading brands in the construction pipeline for each of these three companies are Home2 Suites by Hilto...
Global Travel Pricing Set to Slow Down in 2020; Flights to Rise 1.2%, Hotels 1.3%
Global Business Travel Association | August 2, 2019
MINNEAPOLIS & ALEXANDRIA, Va.-- August 2, 2019 -- After posting sharp rises in 2019, prices in the global travel industry are likely to slow in 2020, with flights rising a modest 1.2%, hotels rising only 1.3%, and rental car rates up 1%, according to the sixth annual Global Travel Forecast, published today by CWT and GBTA. While the global economy is doing well overall – and expected to grow a solid 3.6% in 2020 – a raft of uncertainties are set to put a damper on pricing. “The risks and ambiguity have increased over the past few months – not least the threat of escalating trade wars, the impact of Brexit, possible oil supply s...
Hyatt Reports Second-Quarter 2019 Results; Net Income Increased 10.6% to $86 Million
Hyatt Hotels Corporation | August 1, 2019
Strong transient demand drove 1.3% system-wide RevPAR growth, and fees and net rooms grew at a double-digit pace inclusive of the Two Roads Hospitality LLC acquisition. Second quarter of 2019 financial highlights as compared to the second quarter of 2018 are as follows: Net income increased 10.6% to $86 million. Adjusted EBITDA decreased 2.1% to $213 million, a decrease of 1.0% in constant currency. Comparable system-wide RevPAR increased 1.3%, including an increase of 2.3% at comparable owned and leased hotels. Excluding the negative impact from the timing of the Easter holiday, comparable RevPAR at system-wide hotels and compar...
New York Leads Markets in U.S. Hotel Construction Pipeline
Lodging Econometrics | August 1, 2019
PORTSMOUTH, NH -- August 1, 2019 -- At the end of the first half of 2019, analysts at Lodging Econometrics (L.E.) report that the top five markets with the largest hotel construction pipelines are New York City with 166 projects/28,231 rooms. Next are Dallas and Los Angeles with 162 projects/19,972 rooms and 158 projects/25,428 rooms, respectively. Houston follows with 146 projects/14,998 rooms, and Atlanta with 130 projects/17,280 rooms. With the exception of NYC and Houston, these top markets are at record high counts. The top ten markets in the pipeline including the five markets mentioned above plus Nashville, Austin, Orlando, Detroit,...
U.S. Fall in Overseas Travel Market Share to Continue Through 2022
U.S. Travel Association | August 1, 2019
WASHINGTON -- August 1, 2019 -- The steep and steady decline in the U.S. share of the lucrative international travel market is set to continue until at least 2022, according to the latest forecast figures from the U.S. Travel Association. U.S. global long-haul travel market share is on a four-year slide since its previous high of 13.7% in 2015, falling to 11.7% in 2018. The decline in market share represents losses to the U.S. economy of 14 million international visitors, $59 billion in international traveler spending, and 120,000 U.S. jobs. But the market-share drop is now forecast to continue, dipping under 11% in 2022, the latest o...
For the Second Quarter of 2019, the U.S. Hotel Construction Pipeline Continued Its YOY Growth Spurt Even as Business Investment Declined for the First
Lodging Econometrics | July 31, 2019
PORTSMOUTH, NH -- July 31, 2019 -- Analysts at Lodging Econometrics (LE) reported for the second quarter of 2019, the total U.S. construction pipeline climbed to 5,653 projects/693,207 rooms, up 6% by projects and 9% by rooms year-over-year (YOY). Pipeline totals are just 230 projects shy of the all-time high of 5,883 projects/785,547 rooms reached in the second quarter of 2008. Projects currently under construction stand at 1,727 projects/233,600 rooms with projects scheduled to start construction in the next 12 months at 2,552 projects/295,989 rooms. Both are at the highest levels since early 2008. Projects in the early planning stage ...
Sporting Fixtures Bring 6% Boost to London’s Hotels While the Provinces Feel the Squeeze
HVS | July 29, 2019
RevPAR in London’s hotels rose 6% in Q2 2019 on the back of visitors travelling to the capital to watch the ICC Cricket World Cup and the Major League Baseball, according to the latest UK Hotel Market Tracker: Q2 2019, produced by HVS London, AlixPartners and STR. On the back of both major sporting fixtures, London’s hotels saw average rates rise 5.6% to £157 year-on-year, with occupancy up 0.6% to 84%. It was a different story in the regions, however, despite a number of the cricket fixtures being held in Birmingham, Manchester and Southampton. Outside the capital, RevPAR was down by 0.9% for the quarter, average rate fell 0.6% to...
The Marcus Corporation Reports Second Quarter Fiscal 2019 Results
The Marcus Corporation | July 29, 2019
RevPAR increased 3.4% in the second quarter and 1.2% for the first half of fiscal 2019 MILWAUKEE--The Marcus Corporation (NYSE: MCS) reported results for the second quarter of fiscal 2019 ended June 27, 2019. “We reported record revenues in the second quarter and first half of fiscal 2019 primarily due to increased revenues from the theatre division,” said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation. Second Quarter Fiscal 2019 Highlights Total revenues for the second quarter of fiscal 2019 were $232,500,000, a 20.3% increase from total revenues of $193,298,000 for the second quarter of fis...
New Business Traveler Sentiment Index™ Reveals Hotel Experience Is a Major Driver of Overall Trip Satisfaction
the Global Business Travel Association | July 25, 2019
Business Travelers Happy with Travel Experience Despite 54% Having Travel Mishaps Alexandria, VA (July 25, 2019) – More than half (54%) of business travelers have experienced a mishap* while on the road for work in the last year, with 52% reporting they had a delayed flight and 40% a cancelled flight. However, the vast majority (86%) of global travelers are satisfied with their overall business travel experiences, according to the newly relaunched GBTA Business Traveler Sentiment Index™ in partnership with RoomIt by CWT™, the hotel distribution division of CWT, the B2B4E travel management platform. Traveler experience proved to ha...
Business Travelers Seek Personalized Options & Payment Efficiencies
The Global Business Travel Association | July 17, 2019
ALEXANDRIA, Va.--July 17, 2019 --Business travelers want hotel options that are convenient, personalized and competitively priced with amenities. New research from the Global Business Travel Association (GBTA), in partnership with HRS, highlights these preferences while also demonstrating that many corporate travel buyers underestimate how important these elements are for their travelers. Booking: Addressing Gaps Between Buyers and Travelers The vast majority of buyers and travelers agree that factors like proximity to work engagement (92% travelers, 99% buyers) and price (85% travelers, 94% buyers) are important in selecting a hotel. H...
Amsterdam Hotel Market – Rate Growth Paves the Way
Mattia Cavenati | July 10, 2019
By Mattia Cavenati, Sophie Perret Amsterdam is in the province of North Holland, in the heart of the Randstad, Europe’s sixth-largest metropolitan area. The city of Amsterdam is the capital and the largest city in the Netherlands, with a population of just over 850,000 recorded in 2018. While Amsterdam is known globally for its historic canals, art museums (Rijksmuseum, Van Gogh Museum), red-light district and ‘coffee’ shops, it is also a significant European financial centre. Approximately 2,000 foreign companies have established offices in the Amsterdam metropolitan area, and more than 200 of these companies have headquarters in th...
Travel Trends Index: Domestic, Int’l Demand Expected to Drag Over Next Six Months
U.S. Travel Association | July 10, 2019
WASHINGTON (July 10, 2019) — Travel to and within the U.S. grew 3.2% year-over-year in May, according to the U.S. Travel Association's latest Travel Trends Index (TTI)—marking the industry's 113th straight month of overall expansion. While this is up slightly from April's 3.0% overall growth, the Leading Travel Index (LTI) predicts travel growth will soften through November 2019 as all travel segments experience softer growth. International travel grew only 1.2% in May, following three months of wide fluctuations due to the timing of Easter, which has historically been a peak travel time for visitors to the U.S. Over the next six mo...
The Serviced Apartment Sector in Europe: Poised to Outperform
Simon Hulten | July 3, 2019
By Simon Hulten and Sophie Perret During the last 12 months, the serviced apartment sector in Europe continued to see strong momentum in both demand and supply. This year’s report looks at the recent trends, discusses our analysis of the 2019 lenders survey results and recent transaction evidence and provides an outlook in terms of pipeline. Year in Review The sector continues to innovate, with exciting new brands being introduced and traditional brands being reinvented. Alternative concepts such as co-living, co-working, student accommodation and home-sharing are merging with the serviced apartment concept, creating hybrids as a resp...
GOPPAR Bounces Back, But Cost Concerns Remain at U.S. Hotels
HotStats | July 3, 2019
After a negative turn in April, profit per room at U.S. hotels bounced back in May, increasing by 2.0% year-over-year, buoyed by growth across all revenue centers, according to the latest data from HotStats. GOPPAR was recorded at $112.80 in May, and while this was 4.7% above the year-to-date GOPPAR figure at $107.73, it was almost $6 below the profit level in April at $118.51. This was a function of demand, albeit a significant acceleration in costs was recorded in May, including a 4.7% YOY increase in payroll to $97.49, on a per-available-room basis. It was a positive month of revenue growth across all departments, with YOY revenue...
Brussels Hotel Market – Recovery Now Complete
Lionel Schauder | July 2, 2019
By Lionel Schauder and Sophie Perret Brussels, with a population of approximately 1.2 million, enjoys a strategic location in the heart of Western Europe, making it both a regional metropolis and an international hub. In addition to its role as capital of Belgium, the city is home to NATO’s headquarters and is widely known as the ‘capital of Europe’, hosting both the European Parliament and the European Commission. Described as the ‘new Berlin’ by the New York Times in 2015, an eclectic and creative facet of Brussels has recently emerged, represented by its community of artists, architects and designers. ECONOMIC INDICATORS ...
Hotel Market in Grand Rapids Continues to Boom
Joseph Pierce, MAI | July 1, 2019
By Joseph Pierce, MAI Michigan’s economy is growing again, and Grand Rapids is leading the way. Since 2009, Grand Rapids has had the fastest growing regional economy in the state, increasing 29.2% to $58 billion, according to Michigan-based Bridge Magazine. The Metro Grand Rapids area has also been recognized as one of the fastest growing economies in the country. Headlight Data ranked Grand Rapids the 7th fastest growing economy in the U.S., based on Gross Regional Product (GRP) over the previous five years. All of this is good news for the thriving Grand Rapids hotel market. According to Experience Grand Rapids, the area’s officia...
Duetto Releases Whitepaper Based on Revenue Manager Feedback
Duetto | June 25, 2019
New publication details how and why hoteliers must look beyond revenue and lean on technology to enable and empower them to provide a better guest experience. San Francisco, 25 June, 2019 - Duetto, hospitality’s innovative provider of cloud-based revenue strategy applications, has published a whitepaper showcasing research gathered through surveys and interviews with nearly 100 revenue managers from across the globe. The piece explores many of the new trends shaping the hotel industry as well as many of the pain points experienced by revenue managers, including how concerns seem to have shifted from competing with OTAs and driving top...
Number of Luxury Hotels in the US to Reach 1,123 by 2022, Says GlobalData
GlobalData | June 25, 2019
The US will have 1,067 luxury hotels by the end of 2019. This is expected to increase to 1,123 by 2022, at a compound annual growth rate (CAGR) of 1.7%, driven by increasing numbers of Chinese tourists, says GlobalData, a leading data and analytics company. GlobalData’s latest report: ‘Destination Market Insights: US’ states that although this growth is not expansive, it showcases the gradually increasing demand from international and domestic source markets for more luxurious offerings within the US. Chinese tourists are a high spending source market and their visitation numbers to the US have been growing rapidly in recent years...
HVS Market Pulse: Perspectives on the New York City Lodging Market 2019 – a Review of the Supply Side
Anne R. Lloyd-Jones | June 24, 2019
By Anne R. Lloyd-Jones Supply growth has been the dominant headline for the New York City lodging market over the past decade. The number of hotel rooms in the city increased from 66,000 in 2007 to 99,000 in 2018, a 50% increase in inventory. Another 15,000 rooms are under construction or proposed; if all of these rooms are built, the city’s inventory will have increased by 75% in a 16-year period. Increases in demand kept pace with supply growth through 2018. However, in the first quarter of 2019, supply outpaced demand for the first time in the current cycle. While there are a number of factors that influenced these results, it is cle...
The Future of Medical Spas Explored
EHL Group | June 24, 2019
CHUR-PASSUGG – On 24 June 2019, EHL Swiss School of Tourism and Hospitality (SSTH) hosted the first Swiss Medical Spa & Hospitality Think Tank. This one-day forum saw leading industry experts, academics and students come together to compile the status quo, reflect on examples of best practice and identify areas of potential for the future when combining new medical and spa trends in the hospitality industry. With self-care and well-being becoming increasingly high-profile topics, the demand for medical services in the hospitality and tourism sectors is growing. According to the Global Wellness Institute, wellness tourism is expected to...
HVS Market Pulse: Toledo, Ohio
Stacey Nadolny | June 21, 2019
By Stacey E. Nadolny Much like other markets in the “rust belt” Midwest, Toledo is experiencing a period of redevelopment, with major projects occurring in the healthcare, public, education, tourism, and, yes, hospitality sectors. Eight new hotels have opened since 2014 (including the fully renovated Renaissance), accounting for a 24% increase in overall supply in Lucas County during a five-year period. For several years, the growth areas in Toledo were clustered in the suburban markets of Holland and Maumee, as the city’s major employers moved to the south suburbs, leaving major vacancies Downtown. Further south, Perrysburg, in Wood...
Airbnb’s Market Share: U.S. Lodging Demand Analysis
Hans Detlefsen | June 20, 2019
By Hans Detlefsen In this article, Hotel Appraisers & Advisors (HA&A) estimates Airbnb’s market share of U.S. lodging demand. This year’s edition of our study differs from prior publications in two major ways. Firstly, we isolate data from Airbnb, while excluding data from other, smaller home-sharing companies that were included in prior publications. Secondly, we have focused our analysis on Airbnb demand that we believe is most like traditional hotel lodging demand. We exclude, for example, the rental of shared rooms or rooms with shared living quarters. Since its creation in 2007, Airbnb has become a dominant channel for ...
Puerto Rico Lodging Market Poised for Comeback
JLL | June 19, 2019
SAN JUAN, JUNE 19, 2019 – Puerto Rico’s lodging market abounds with opportunities, following crises over the past several years. According to JLL’s Puerto Rico Hotel Destinations Report hotels across the Caribbean island have come back online after renewed capital investments and paired with economic incentives and strategic efforts of the Government of Puerto Rico and the U.S. Government, the island is primed for a hotel market comeback. Air capacity to the island in 2019 will increase for the first time since 2016 and to meet this demand, by 2020, approximately 2,400 hotel rooms will be re-introduced to the market, along with more ...
