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
U.S. Construction Pipeline Continues Moderate Growth Year-Over-Year
Lodging Econometrics (LE) | August 1, 2018
August 1, 2018 – PORTSMOUTH, NH – At the end of the second quarter, analysts at Lodging Econometrics (LE) report that the total U.S. construction pipeline stands at 5,312 projects/634,501 rooms, up 7% from 2017's 4,973 projects/598,371 rooms. The pipeline has been growing moderately and incrementally each quarter and should continue its upward growth trend as long as the economy remains strong. Pipeline totals are still significantly below the all-time high of 5,883 projects/785,547 rooms reached in 2008. Projects scheduled to start construction in the next 12 months have seen minimal change year-over-year (YOY) with 2,291 p...
Todd Davidson and Spurgeon Richardson to Be Inducted into U.S. Travel Hall of Leaders
The U.S. Travel Association | July 30, 2018
PARK CITY, UT (July 30, 2018)— Destination leaders Todd Davidson, president and CEO of Travel Oregon, and Spurgeon Richardson, the former longtime president of the Atlanta Convention & Visitors Bureau, will be honored as the 2018 inductees into the U.S. Travel Association Hall of Leaders. Distinguished individuals are named to U.S. Travel's Hall of Leaders for "sustained, noteworthy contributions that have positively impacted the travel industry, stimulated greater achievement, and raised industry-wide standards." Recipients of the award are for serving their place of employ with excellence, but also for contribu...
Buoyant Global Economy Means Higher Hotel and Air Prices in 2019
Global Business Travel Association | July 24, 2018
ALEXANDRIA, Va. & MINNEAPOLIS—July 24, 2018--Travel prices are expected to rise sharply in 2019, with hotels going up 3.7%, and flights 2.6%, driven by a growing global economy and rising oil prices, according to the fifth annual Global Travel Forecast, published today by GBTA and CWT with the support of the Carlson Family Foundation. "While most major markets appear to be trending in the right direction, downside risks remain for the global economy given the rise of protectionist policies, the risk of stoking trade wars and Brexit uncertainty," said Michael W. McCormick, GBTA executive director and COO. "This forecast provide...
HVS Market Pulse: Tucson, Arizona
Michael Smithson | July 23, 2018
By Michael Smithson The Tucson lodging market often lives in the shadow of its bigger sibling, Phoenix. And while meeting and group demand in both markets is driven by Arizona's idyllic weather during the winter and spring, differences in local dynamics paint significantly different pictures in terms of leisure and commercial demand. Both lodging markets experienced a prolonged recovery following the national recession late last decade, partially attributed to the controversial SB 1070 immigration law; however, the loss of MLB Spring Training in 2011 and the federal government sequestration in 2014 stalled Tucson's recovery even further...
Companies Increasingly Exposed to Financial Loss and Duty of Care Violations as the Number of Meetings Grow
the Global Business Travel Association | July 19, 2018
ALEXANDRIA, Va.--Globally, half of company-held meetings are simple meetings, yet roughly half of survey respondents report their organizations do not use a "managed" meetings channel for simple meetings, according to new research released today by the Global Business Travel Association (GBTA), in partnership with HRS. This first-of-its-kind study focuses exclusively on simple meetings management, which are small meetings with basic, replicable requirements. For the first time, both GBTA and Meeting Professionals International (MPI) members were surveyed for the same study to provide perspectives from both travel buyers and meeting plan...
Fewer Americans Consider Traveling to Cuba This Year
Allianz Global Assistance USA | July 18, 2018
RICHMOND, Va., July 18, 2018 -- Two years after the easing of travel restrictions to Cuba for Americans, an annual survey* by leading travel insurance provider Allianz Global Assistance reveals that fewer people are interested in taking a trip to the island nation than before—and that there is lingering confusion surrounding the current travel policy. This year's survey shows that 13 percent of Americans are interested in traveling to Cuba—a dramatic 27 percent drop from 2017, when 40 percent said they would be interested in visiting the country. The 2018 poll also revealed that 82 percent of respondents report being unl...
Cost Controls Perpetuate U.S. Hotel Profit Growth In 2017
Robert Mandelbaum | July 17, 2018
By Robert Mandelbaum U.S. hoteliers enjoyed an eighth consecutive year of increasing profits in 2017 despite another slowdown in the rate of revenue growth. According to the 2018 edition of Trends® in the Hotel Industry, total operating revenue increased by 2.0 percent in 2017 for the average hotel in its survey sample. Fortunately, by limiting the growth in operating expenses to 1.9 percent, managers at the Trends® properties realized a 2.2 percent increase in gross operating profits (GOP) for the year. Trends® in the Hotel Industry is the CBRE Hotels' Americas Research's annual survey of operating statements from thousands...
Mid-Year 2018: Brands, OTAs, Marriott, Blockchain, Robotics and Sustainability
Robert A. Rauch | July 10, 2018
By Robert A. Rauch Online travel agencies (OTAs) outspend brands by a wide margin and continue to steal market share from brands. As Marriott is becoming more of a global brand with 30 brands and a home-sharing company in their portfolio, we see a new war developing. Airbnb, a behemoth home-sharing company, is regularly getting beat up by cities who are adding regulations quickly. They will become an OTA by 2020 and begin to compete with Expedia and Booking rather than Marriott, Hilton, and the hotel community. After all, they only charge three percent for their services and could get 10 as an OTA! At the Lodging Industry Investment Cou...
European Serviced Apartments Boom as Operators Head Towards New Markets, Says HVS Survey
HVS | July 10, 2018
10 July 2018, London: The European serviced apartment sector has boomed in the past year, with approaching 20,000 units planned for the next five years and some operators within the region interested in expanding into new markets such as Eastern Europe and even the US. According to a survey of leading serviced apartment operators undertaken by global hotel consultancy HVS, the sector saw impressive growth in 2017 with increases in RevPAR (rooms revenue per available room) in London, the UK regions and across the rest of Europe. While operators say their biggest challenge is competing against hotels for central sites, growing demand for ...
In Focus: Malaysia – Reinvigorated Opportunities
Jeremy Teo | July 5, 2018
Jeremy Teo and Hok Yean Chee The Federation of Malaysia, located in Southeast Asia, comprises 13 states and three federal territories covering a total area of 329,847 square kilometres across Peninsula Malaysia and East Malaysia. Malaysia's population is approximately 31.4 million (2017 government estimate) with 62% being of Malay heritage. The country's diversity is reflected in the share of different ethnic groups, such as Chinese, Indians and Indigenous, in its total population. According to the World Travel & Tourism Council (WTTC), the direct and total contribution of Travel & Tourism to Malaysia's Gross Domestic Product (G...
Cape Town Calling: Undoing the impact of ‘Day Zero’ on Tourism
Rishabh Thapar | July 5, 2018
By Rishabh Thapar At the end of 2017, one of the most picturesque cities in the world, Cape Town, announced a 'Day Zero' to create awareness among its citizens of the severity of its ongoing water crisis. The day marked to be as early as March 2018 at one point of time has been pushed out to 2020 (or potentially 'never') in light of the city's commendable efforts in changing their lifestyle and focusing on water conservation in all aspects of their day-to-day living. It was heartening to see industries, buildings, farmers, hoteliers, each and every citizen coming together for a common cause and making an effort to reduce water consumpti...
Weighing up the Pros and Cons of Soft Brands
Amistad Hotel Marketing Partnership Ltd | June 29, 2018
Today's AP voice is from our managing director Beate Christeleit. At Amistad, we have seen a substantial increase in the number of "soft brands" in the past few years. While there are obvious benefits for independent hotels, it's worth taking a deeper dive into the benefits and disadvantages and other possible options, such as hotel representation companies. Let's start with the basics of what we define as a soft brand. Some well-known examples are Marriott International's Autograph Collection launched in 2010, or The Luxury Collection acquired by Starwood Hotels & Resorts in 1998. The theory behind soft brands is that independent h...
Hoteliers Round Out First Half of 2018 With Consistently Strong Bookings and Rates
TravelClick | June 27, 2018
Group and Transient Business Travel Drive Growth in Second Quarter NEW YORK – June 27, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's June 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are continuing to experience upticks across all travel segments in the second quarter of 2018, up 2.5 percent in average daily rates (ADR), 1.4 percent in bookings and 4.0 percent in revenue per available room (RevPAR) compared to the same period last year. Furthermore, the group and transient busi...
United States – HVS/STR Hotel Valuation Index
Stephen Rushmore, Jr. | June 25, 2018
By Stephen Rushmore, Jr. HVS, the world's leading hospitality consulting and valuation firm, in collaboration with STR, is pleased to deliver the Hotel Valuation Index (HVI). The HVI offers critical information on 38 U.S. hotel markets and the nation, including: Historical and projected valuation and RevPAR changes Intelligence on market dynamics for primary, secondary, and tertiary hotel markets So how can the HVI be of use to an individual investor? Although the HVI cannot tell you what a particular hotel is worth, it does provide excellent "big picture" data, indicating which market areas are experiencing positive trends, and thu...
The Annual HVS Asia-Pacific Hotel Operator Guide 2018 – Excerpt
Pawinee Chaisiriroj | June 25, 2018
By Pawinee Chaisiriroj and Daniel J Voellm HVS Asia Pacific proudly presents to you the Fifth Edition of the annual Asia Pacific Hotel Operator Guide. Talking to stakeholders in the industry, this publication has become increasingly sought after by the market to evaluate potential candidates to operate a hotel property anywhere in Asia-Pacific. Distribution power, market experience, brand portfolio and geographic presence are all relevant factors in narrowing down the best match. In this fifth edition, HVS has captured over one million existing and more than half a million pipeline rooms spread over 8,395 properties. Download the Annual...
IHG Opens 459-Key InterContinental® Phu Quoc Long Beach Resort in Vietnam
IHG | June 22, 2018
IHG® (InterContinental® Hotels Group) is celebrating the opening of its 1000th hotel in the Europe, Middle East, Asia and Africa (EMEAA) region, with the opening of InterContinental® Phu Quoc Long Beach Resort, in Vietnam. This milestone comes as IHG continues its ambitious growth strategy across its newest and most geographically diverse region. The 1000th opening adds to an already strong portfolio in EMEAA, with hotels across eight brands, working in partnership with more than 500 hotel owners. IHG has an extensive development pipeline in EMEAA with 321 hotels (63,500+ rooms) set to open in the next 3-5 years*. InterConti...
HVS Design and JN+A Release 2018 Hotel Cost Estimating Guide
HVS | June 21, 2018
HVS Design and Jonathan Nehmer + Associates (JN+A) are proud to announce the completion of the 2018 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the USA. ...
U.S. Project-Based Business Travel Spend Topped $45 Billion in 2017
the Global Business Travel Association | June 20, 2018
ALEXANDRIA, Va.--In 2017, project-based business travel spending reached $45.4 billion USD, comprising 15 percent of all U.S. business travel spending, according to a first-of-its-kind study from the Global Business Travel Association (GBTA), in partnership with InterContinental Hotels Group. In total, 66 million trips were taken last year for project-based purposes, representing 12 percent of all U.S. business trips and 19 percent of all U.S. business trips taken for transient purposes. To be considered project-based travel, the travel must revolve around a project, have both a start and end date, and have a duration of at least four n...
The Americas, Asia Pacific and EMEA Are the Top World Regions in the Global Hotel Construction Pipeline
Lodging Econometrics | June 20, 2018
June 20, 2018 – PORTSMOUTH, NH – Lodging Econometrics (LE) has released its global construction pipeline trend report, which compiles the construction pipeline for every country and market in the world, where currently the regions by project count are: The Americas with 6,268 projects/800,298 rooms, Asia Pacific with 4,205 projects/907,867 rooms and EMEA with 2,241 projects/430,837 rooms. The top countries by project count are the United States with 5,255 projects/636,274 rooms and China with 2,481 projects/546,424 rooms. The U.S. accounts for 41% of the projects in the global pipeline while China accounts for 20%, resulting...
Is Europe on a Rebound?
Georges Panayotis | June 20, 2018
by Georges Panayotis 200 years later, Europe could once again become a great world power. With its millenary history, it could return to the big leagues through the digital field. Emmanuel Macron has made it very clear: he wants to push French start-ups and promote the influence of digital companies. France and its European neighbors may be late in the game, but we have our card to play. In France, the game is changing, and we are shifting up a gear. Europeans, especially France, are starting with 20 years of lag time compared to the United States in the development of digital entrepreneurship! Fair enough! But we have our strengths... ...
7% Year-Over-Year Growth in the Global Construction Pipeline
Lodging Econometrics | June 19, 2018
June 19, 2018 – PORTSMOUTH, NH – The Lodging Econometrics (LE) global construction pipeline trend report, which compiles the construction pipeline for every country and market in the world, states that the total pipeline stands at 12,714 projects/2,139,002 rooms, up 7% by projects year-over-year (YOY). There are 5,952 projects/1,115,288 rooms under construction, up 8% by projects YOY. Projects scheduled to start construction in the next 12 months, at 3,988 projects/584,433 rooms, are up 6% while projects in early planning at 2,774 projects/439,281 rooms are up 5% YOY. The leading 5 franchise companies in the global construct...
Rainmaker Continues to Expand Global Footprint
Rainmaker | June 19, 2018
Company acquires several key hospitality customers in international markets ALPHARETTA, GA. — June 19, 2018 —The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, is excited to announce the continued expansion of their global presence by adding four new countries to their catalog of customers. Over the last few months, Rainmaker has added customers in four countries: New Zealand, St Maarten, Suriname, and Singapore. The acquired properties span three different property types: gaming, resort, and all-inclusive. The rapid growth of their customer base into glo...
Construction Pipeline Growth in China and Its Major Cities Shows Marginal Growth Up 2% Year-Over-Year
Lodging Econometrics | June 18, 2018
June 18, 2018 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that according to the recent China Construction Pipeline, the Total Pipeline has 2,481 Projects/546,424 Rooms, up 2% Year-Over-Year (YOY). There are 1,725 Projects/368,927 Rooms Under Construction, up less than 1% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 410 Projects/86,995 Rooms, up 27% by project YOY, while projects in Early Planning at 346 Projects/90,502 Rooms are down 13%. Cities in China with the largest pipelines are: Shanghai with 129 Projects/25,750 Rooms, Guangzhou with 106 Projects/25,481 Roo...
The Rainmaker Group Partners with Torarica Group of Hotels
the Torarica Group | June 14, 2018
Company to Implement Rainmaker's Industry-Leading Revenue Optimization Solutions at All Three Properties ALPHARETTA, GA. — June 14, 2018 —The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that the Torarica Group has selected Rainmaker's guestrev®, revintel® and revcaster® solutions to drive revenue at all three of their Suriname properties: Torarica Hotel & Casino, Eco Resort, and Royal Torarica Hotel. The company was looking for a set of tools to help them formalize their revenue management processes and become more sophis...
