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
After Strong First Quarter, CBRE Lifts 2018 U.S. Lodging Forecast and Expects Continued Growth
CBRE Group, Inc. | June 14, 2018
Los Angeles – June 14, 2018 – Based on better than expected first-quarter performance, CBRE Hotels' Americas Research (CBRE) has enhanced its outlook for 2018. According to STR, U.S. hotels enjoyed a 3.5 percent increase in revenue per available room (RevPAR) during the first quarter of 2018, exceeding the 2.5 percent RevPAR gain expected by CBRE for the period. Accordingly, CBRE now is forecasting a 2.8 percent annual increase in RevPAR for U.S. hotels in 2018, a 0.3 percentage point enhancement over the 2.5 percent mark published in CBRE's March 2018 Hotel Horizons® report. Average daily rates (ADR) at Los Angeles area...
Marriott, AccorHotels and IHG Top Asia Pacific Construction Pipeline, Excluding China
Lodging Econometrics | June 14, 2018
June 14, 2018 – PORTSMOUTH, NH – According to the most recent Asia Pacific Construction Pipeline Trend Report from Lodging Econometrics, the top global hotel companies in the Asia Pacific Construction Pipeline, excluding China, are: Marriott International with 204 Projects/48,003 Rooms, AccorHotels with 215 Projects/45,086 Rooms, InterContinental Hotels Group (IHG) with 122 Projects/28,186 Rooms, Hilton Worldwide with 82 Projects/17,750, and Best Western with 34 Projects/6,146 Rooms. The largest brand in the Pipeline for each of these companies is: Marriott's Sheraton Hotel with 29 Projects/7,069 Rooms, Accor's Ibi...
Asia Pacific’s Top Countries and Cities for Hotel Construction Excluding China
Lodging Econometrics | June 13, 2018
June 13, 2018 – PORTSMOUTH, NH – According to analysts at Lodging Econometrics (LE), the top countries in the Asia Pacific Construction Pipeline, excluding China, by project count are: Indonesia with 394 Projects/66,154 Rooms, Japan with 228 Projects/46,356 Rooms, India with 206 Projects/33,501 Rooms, Malaysia with 137 Projects/36,244 Rooms and Thailand with 134 Projects/31,964 Rooms. Cities with the largest pipelines by project count are: Jakarta, Indonesia with 101 Projects/19,010 Rooms; Seoul, South Korea with 80 Projects/15,738 Rooms; Tokyo, Japan with 73 Projects/16,885 Rooms; Kuala Lumpur, Malaysia with 58 Pr...
Israel’s Hoteliers Look Forward to Another Year of Bumper Growth in Tourism, Says HVS
HVS | June 13, 2018
13 June 2018, London: Israel's hotel sector is likely to see a second year of strong growth in 2018 as the number of tourists visiting the country continues to rise. According to a new report from global hotel consultancy HVS, launched in London yesterday in conjunction with the Israel Ministry of Tourism, the country received more than 3.6 million visitors in 2017, a year-on-year increase of nearly 25%, boosting hotel occupancy across the country from 67% to 73%. The majority of tourists to Israel come from the US, Russia and France, while German visitors as well as those from China, Poland and Romania are growing in import...
U.S. Travel Responds to Report that Trump Assisted U.S. Bid to Co-Host World Cup
The U.S. Travel Association | June 12, 2018
WASHINGTON (June 12, 2018)—U.S. Travel Association Executive Vice President Jonathan Grella issued a statement on a New York Times report on President Trump's assurances that his visa policies would not affect participants and spectators at prospective FIFA World Cup events in the U.S. in 2026: "Major events are a magnet for tourism and job creation, which is why competition to host them is so hotly contested. We applaud the president for embracing visa policies that support tourism and business objectives, which hold clear value for U.S. job creation and our trade balance—not to mention our standing on the world st...
Extended-Stay Hotels: Growth or Performance?
Robert Mandelbaum | June 12, 2018
By Robert Mandelbaum When investing in hotels, recent year-over-year trends in revenues and profits, along with current performance values, are two of the metrics most frequently evaluated. Investors need to balance the current levels of a property's occupancy, ADR, revenues and profits, with the recent direction of the changes in these measurements. In an attempt to time the market, some people prefer to invest in hotels that are currently achieving low levels of revenues and profits, but are coming out of the bottom of the cycle and achieving strong gains on the top and bottom lines. Others prefer hotels that have are approaching, or ...
Key Takeaways from the 2018 South East Asia Hotel Investor’s Summit (SEAHIS)
Paola Orneli Bock | June 12, 2018
By Paola Orneli Bock , Pawinee Chaisiriroj , Hok Yean CHEE This year's South East Asia Hotel Investors' Summit (SEAHIS) took place at the Westin Grande Sukhumvit Bangkok on May 14-15, and HVS proudly sponsored the conference for the second consecutive year. The event tackled some of the key issues facing the hospitality sector including the role of Online Travel Agencies (OTAs), hotel management agreement negotiations, and fear of oversupply in certain markets, as well as the 2018 regional outlook. These matters were debated during the panel discussions among top executives, ranging from hotel developers, owners, investors, consultants,...
The Asia Pacific Hotel Construction Pipeline Excluding China Continues Double Digit Increases Year-Over-Year
Lodging Econometrics | June 12, 2018
June 12, 2018 – PORTSMOUTH, NH – The most recent Asia Pacific Construction Pipeline Trend Report, excluding China, states that the Total Pipeline has 1,673 Projects/349,081 Rooms, up 12% by projects and 17% by rooms Year-Over-Year (YOY). There are 959 Projects/208,153 Rooms Under Construction, up 19% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 368 Projects/72,819 Rooms, up 26%, while projects in Early Planning at 346 Projects/68,109 Rooms, are down 14% by projects YOY. ...
Top Countries & Cities in the Middle East and Africa Hotel Construction Pipelines Are Saudi Arabia, UAE and Qatar
Lodging Econometrics | June 11, 2018
June 11, 2018 – PORTSMOUTH, NH – According to analysts at Lodging Econometrics (LE), the top countries in the Middle East Construction Pipeline are: Saudi Arabia with 209 Projects/72,680 Rooms, United Arab Emirates with 208 Projects/58,930 Rooms and Qatar with 58 Projects/13,667 Rooms. Cities in the Middle East with the largest pipelines are: Dubai, UAE with 161 Projects/46,420 Rooms, Provincial, Saudi Arabia with 60 Projects/10,859 Rooms and Riyadh, Saudi Arabia with 58 Projects/10,885 Rooms. The top countries in the Africa Construction Pipeline are: Nigeria with 38 Projects/6,561 Rooms, Ethopia with 30 Projects/5,31...
The Rainmaker Group Partners With Sonesta Resorts St. Maarten and The Maho Group in Caribbean
Rainmaker | June 11, 2018
Company to provide revenue and profit analytics to Sonesta St Maarten properties affected by Hurricane Irma ALPHARETTA, GA – June 11, 2018 – The Rainmaker Group (Rainmaker) has partnered with The Maho Group, operating the Sonesta Resorts in St. Maarten, to assist them in their re-opening phase and recovery in the wake of the impacts from Hurricane Irma. By providing revenue and profit analytics as well as pricing optimization for group and transient business, Rainmaker will assist Sonesta's aim of bringing tourism back to St Maarten and building the fastest possible path back to financial stability. Mike Cowles, CEO of R...
CBRE Hotels Arranges Sale of the West Inn & Suites Carlsbad
CBRE Group, Inc. | June 11, 2018
Newport Beach, California – June 11, 2018 – CBRE Hotels has arranged the sale of the 86-room West Inn & Suites in Carlsbad, California for an undisclosed price. CBRE Hotels represented the seller, West Real Estate LLC, who had developed the hotel along with the West Steak & Seafood Restaurant, Bistro West Restaurant, and a gas station/minimart at Cannon Road and Interstate 5 in 2006. The buyer was an affiliate of San Diego-based Pacifica Companies. The three-story upscale boutique hotel features high-end finishes and focuses on detail serving both the leisure and corporate markets. The proximity to LEGOLAND, Palomar ...
Marriott, Hilton and AccorHotels Lead Construction Pipeline in the Middle East and Africa
Lodging Econometrics (LE) | June 8, 2018
June 8, 2018 – PORTSMOUTH, NH – According to the recent Hotel Construction Pipeline Trend Reports for Africa and the Middle East, the top hotel company construction pipelines in the Middle East and Africa are: Marriott International with 154 Projects/33,386 Rooms, Hilton Worldwide with 130 Projects/32,725 Rooms, AccorHotels with 103 Projects/25,430 Rooms, Radisson Hotel Group with 44 Projects/11,184 Rooms and InterContinental Hotels Group (IHG) with 31 Projects/7,445 Rooms. The largest brand in the Pipeline for each of the these companies are: Marriott's Courtyard with 23 Projects/5,033 Rooms, Hilton's full-service hotel wit...
The Middle East and Africa Hotel Construction Pipelines Continue to Grow
Lodging Econometrics | June 7, 2018
June 7, 2018 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Construction Pipelines for the Middle East and Africa continue to grow resulting in 875 Projects/216,045 Rooms combined, according to LE's recent Trend Report. The Total Middle East Pipeline has 594 Projects/170,490 Rooms and is up 23% by rooms Year-Over-Year (YOY). This is the 16th consecutive quarter of pipeline growth seen by the Middle East. In the Middle East, there are 358 Projects/113,830 Rooms Under Construction, up 13% by projects YOY. Those Scheduled to Start Construction in the Next 12 Months are at 127 Projects/31,752 Roo...
Hospitality 2020 – The Next Big Things
Robert A. Rauch, CHA | June 7, 2018
By Robert A. Rauch Hospitality's turnaround in both profits and technology over the past eight years has been rather phenomenal. Revenues and profits have grown steadily and there has also been a significant improvement in the use of technology. Previously, the hospitality industry lagged behind most industries when it came to technology. Today, that is rapidly changing. Rather than try to focus on everything that is going on with our industry like the blowing up of mobile, personalization of services, brands, soft brands, online travel agencies (OTAs), Airbnb, GDPR, 5G, cyber-crime and crisis management, I am focused on two big things....
AccorHotels Tops Europe’s Construction Pipeline Followed by Marriott, Hilton and IHG
Lodging Econometrics | June 6, 2018
June 6, 2018 – PORTSMOUTH, NH According to a recent Hotel Construction Pipeline Trend Report for Europe, analysts at Lodging Econometrics (LE) report that the top global hotel companies in Europe's Construction Pipeline are: AccorHotels with 209 Projects/26,936 Rooms, Marriott International with 187 Projects/31,855 Rooms, Hilton Worldwide with 170 Projects/26,870 Rooms and InterContinental Hotels Group (IHG) with 133 Projects/22,590 Rooms. The largest brands in the Pipeline for each of the these companies are: Accor's Ibis Styles with 50 Projects/6,498 Rooms, Marriott's Moxy with 56 Projects/10,302 Rooms, Hilton's Hampton Inn w...
Travel Trends Index: Business Travel Thriving as Travel Expands for 100th Straight Month
U.S. Travel Association | June 6, 2018
WASHINGTON (June 6, 2018)—Travel to and within the U.S. grew 3.6 percent year-over-year in April, according to the U.S. Travel Association's latest Travel Trends Index (TTI)—marking the industry's 100th straight month of overall expansion. Though the raw numbers are in positive territory, the U.S. continues to trail other global travel heavyweights in capturing share of the booming international travel market. The most noteworthy component of the April TTI was domestic business travel, which grew for a fourth consecutive month—the first four-month win streak for that segment since January-April 2015. Forward-lo...
Germany Leads Europe’s Hotel Construction Pipeline; London Ranks as Top City
Lodging Econometrics (LE) | June 5, 2018
June 5, 2018 – PORTSMOUTH, NH – According to analysts at Lodging Econometrics (LE), the top countries in the Europe Construction Pipeline by project count are: Germany with 246 Projects/47,927 Rooms, United Kingdom with 246 Projects/36,585 Rooms, and France with 121 Projects/13,618 Rooms. Next, all with 80 projects, is Russia with 80 Projects/15,520 Rooms, Poland with 80 Projects/12,468 Rooms, and Portugal with 80 Projects/8,310 Rooms. These three countries are followed closely by Spain with 79 Projects/11,457 Rooms and Turkey with 70 Projects/11,278 Rooms. Cities in Europe with the largest pipelines by room count are...
Europe’s Hotel Construction Pipeline Is Healthy and Continues to Rise
Lodging Econometrics | June 4, 2018
June 4, 2018 – PORTSMOUTH, NH According to a recent Hotel Construction Pipeline Trend Report for Europe, analysts at Lodging Econometrics state that the Total Pipeline is climbing steadily with 1,366 Projects/214,792 Rooms, a 29% increase by projects Year-Over-Year (YOY). The pipeline in Europe has nearly doubled since the cyclical low of 687 Projects/116,272, recorded in Q3 of 2010. There are 715 Projects/115,869 Rooms Under Construction, up 36% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 391 Projects/61,928 Rooms, up 35%, while projects in Early Planning are at 260 Projects/36...
Latin America’s Hotel Construction Pipeline Is Stalling; Down 8% by Projects YOY
Lodging Econometrics (LE) | May 31, 2018
May 31, 2018 – PORTSMOUTH, NH – According to the recent Latin America Construction Pipeline Trend Report from Lodging Econometrics (LE), the Total Construction Pipeline in Latin America has 776 Projects/134,143 Rooms, down 8% by projects Year-Over-Year (YOY). There are 365 Projects/64,004 Rooms Under Construction, down 4% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 213 Projects/33,536 Rooms, up 28%, while those in Early Planning are at 198 Projects/36,603 Rooms, down 32% YOY. ...
Hotel Rates and Bookings Continue Growth Throughout First Half of 2018
TravelClick | May 31, 2018
Third-Quarter 2018 Bookings Increase Significantly NEW YORK – May 31, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's May 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers continue to experience significant growth in the second quarter of 2018 across all travel segments, up 2.7 percent in average daily rates (ADR) and 1.4 percent in bookings. Group travel is particularly strong in Q2, up 3.0 percent in ADR, 4.0 percent in bookings and an impressive 7.2 percent in revenue per available...
2.5% Growth Rate of New Hotel Openings Expected in 2018 and 2019 in the United States
Lodging Econometrics | May 31, 2018
May 31, 2018 – PORTSMOUTH, NH By the end of 2018, the Census of Open & Operating Hotels in the U.S. is expected to grow by 2.5% with 1,146 Projects/130,877 Rooms opening up according to published reports from Lodging Econometrics (LE). Of those expected to open, 511 Projects/50,105 Rooms will be Upper Midscale, the highest count of any chain scale and 45% of all new openings. In 2019, the Census is expected to grow another 2.5% by opening 1,215 Projects/137,105 Rooms, about 6% more projects than are anticipated to open in 2018. In 2019, New York is again the top market for New Hotel Openings with 47 Projects/7,239 Rooms...
Extended-Stay Hotels Account for 27% of All Projects Under Construction in the United States
Lodging Econometrics | May 31, 2018
May 30, 2018 – PORTSMOUTH, NH According to recent reports from Lodging Econometrics (LE), 1,360 Projects/143,379 Rooms in the U.S. Construction Pipeline are Extended-Stay projects. Of these, 428 Projects/47,340 Rooms are already Under Construction, accounting for 27% of all projects Under Construction in the Total Pipeline. Additionally, 628 Projects/66,846 Rooms are Scheduled to Start Construction in the Next 12 Months while an additional 304 Projects/29,193 Rooms are in Early Planning. Home2 Suites by Hilton currently has the largest Extended-Stay Pipeline with 377 Projects/39,474 Rooms. The second largest brand is Marrio...
GDPR: Why Hoteliers Should Take the new EU Regulations Very Seriously
Stuart Pallister | May 30, 2018
By Stuart Pallister New EU rules on data protection - or GDPR - , seven years in the making, come/came into effect on May 25. The advice from IT experts to hoteliers is: take the new rules very seriously or risk heavy fines of up to 20 million euros or four percent of the company's global turnover, whichever is higher. At the recent Young Hoteliers Summit, staged at Ecole hôteliere de Lausanne, Nick Price, CEO of NetSys Technology and CIO of citizenM Hotels, touched on the challenges posed in a keynote address. He said the new General Data Protection Regulation or GDPR was significant as the hospitality industry holds a lot of dat...
After Strong First Quarter CBRE Lifts 2018 U.S. Lodging Forecast
CBRE Group, Inc | May 30, 2018
Atlanta – May 30, 2018 – Based on better than expected first quarter performance, CBRE Hotels' Americas Research (CBRE) has enhanced its outlook for 2018. According to STR, U.S. hotels enjoyed a 3.5 percent increase in revenue per available room (RevPAR) during the first quarter of 2018, exceeding the 2.5 percent RevPAR gain expected by CBRE for the period. Accordingly, CBRE now is forecasting a 2.8 percent annual increase in RevPAR for U.S. hotels in 2018, a 0.3 percentage point enhancement over the 2.5 percent mark published in CBRE's March 2018 Hotel Horizons® report. "We continue to be impressed by the ability of the...
