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
43% of All U.S. Hotel Construction Projects Are Upper Midscale
Lodging Econometrics | May 30, 2018
May 30, 2018 – PORTSMOUTH, NH -- Analysts at Lodging Econometrics (LE) report that together the Upper Midscale and Upscale Pipelines comprise 72% of all projects in the Total Pipeline. The Upper Midscale category, including unbranded projects, has 2,278 Projects/233,150 Rooms and is the largest chain scale in the U.S. Construction Pipeline. The second largest chain scale including unbranded is the Upscale category which has 1,529 Projects/208,334 Rooms. The brands with the largest number of projects in Upper Midscale are: IHG's Holiday Inn Express with 438 Projects/40,657 Rooms and from Hilton, Home2 Suites 377 Projects/39,...
Total Construction Pipeline in Canada Up 11% by Projects YOY
Lodging Econometrics (LE) | May 24, 2018
According to Lodging Econometrics (LE), the total Construction Pipeline in Canada currently has 237 Projects/29,881 Rooms, up 11% by projects Year-Over-Year (YOY). There are 90 Projects/11,811 Rooms Under Construction, up 20% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 93 Projects/10,658 Rooms, up 11%, while those in Early Planning are at 54 Projects/7,412 Rooms, down 2%. The top hotel companies in Canada's Construction Pipeline by projects are: Marriott with 54 Projects/7,718 Rooms, InterContinental Hotels Group (IHG) with 44 Projects/4,528 Rooms, and Hilton with 38 Projects/4,319 Rooms. The l...
Paris – Spring in the Step: An HVS Market Pulse Overview
Dayk Balyozyan | May 17, 2018
By Dayk Balyozyan and Sophie Perret This market pulse provides an overview of the tourism and hotel market in Paris, France. It discusses recent tourism trends and the causes for optimism for 2018 as well as providing a summary of the extensive hotel pipeline. Click here to read the full report. ...
U.S. Lodging Fundamentals Portend Improved RevPAR Growth
Fitch | May 16, 2018
Fitch Ratings-New York/Chicago-16 May 2018: U.S. lodging RevPAR growth will be in the 2% - 4% range in 2018, according to Fitch Ratings. The agency raised its prior outlook of 0% - 2% growth due to better than expected corporate transient lodging demand in the context of continued, strong leisure demand and moderate industry supply growth. Higher-end resort hotels will outperform but elevated supply in key markets such as New York City will weigh on urban and upscale hotels. The sector credit outlook is stable, with most issuers reporting healthy operating fundamentals and managing leverage within stated financial policy targets. U.S. l...
Stockholm – New Supply A Surmountable Hurdle
Simon Hult?n | May 14, 2018
By Simon Hulten and Sophie Perret This market pulse provides an overview of the tourism and hotel market in Stockholm, Sweden. This snapshot discusses recent tourism trends, the impact of new supply on performance and provides a summary of the extensive hotel pipeline. Click here to view report. ...
Marriott Leads U.S. Construction Pipeline With 1,383 Projects Followed by Hilton and IHG
Lodging Econometrics (LE) | May 4, 2018
According to the recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines are: Marriott with 1,383 Projects/177,926 Rooms, Hilton with 1,337 Projects/149,075 Rooms and IHG with 923 Projects/94,296 Rooms. These 3 franchise companies comprise 69% of all projects in the Total Pipeline. The largest brands for each of these companies are: Marriott's Fairfield Inn with 293 Projects/28,418 Rooms and TownePlace Suites with 206 Projects/21,193 Rooms; Hilton's Home2 Suites with 377 Projects/39,474 Rooms and Hampton Inn & Suites with 316 Projects/32,...
U.S. Markets With the Largest Construction Pipelines & Highest 2018 Growth Rates
Lodging Econometrics (LE) | May 4, 2018
According to analysts at Lodging Econometrics (LE), the five U.S. markets with the largest hotel construction pipelines by project count are: New York with 169 Projects/29,641 Rooms, Dallas with 159 Projects/19,149 Rooms, Houston with 148 Projects/16,158 Rooms, Nashville 119 Projects/15,992 Rooms and Los Angeles which has 115 Projects/17,155 Rooms in its pipeline. The top market in the U.S. by Census growth rate for 2018 is Nashville which is expected to grow its Census by 8.8% if all 27 Projects/3,703 Rooms of expected openings occur by the end of the year. Following is New York with a 7.3% growth rate for opening 50 Projects/8,437 Roo...
HVS Market Pulse: Lake Charles Metro Area
Bunmi Adeboye | May 4, 2018
By Bunmi Adeboye Southwest Louisiana (SWLA) comprises Allen, Beauregard, Calcasieu, Cameron, and Jefferson Davis Parishes, situated in the Acadiana and Central regions of Louisiana. Altogether, these parishes contain nearly 100 open hotels with approximately 9,900 rooms; 23% of the room inventory was opened in the last five years. SWLA's location on the Gulf Intracoastal Waterway has made this region favorably situated for the energy industry, and the petrochemical and liquified natural gas (LNG) industries represent its economic mainstay. The following article outlines the impact of industrial growth in Metro Lake Charles on the area's...
How to Minimize the Cost of Emotional Labor
Sheetal Singh | May 3, 2018
By Sheetal Singh and Court Williams While we have come to accept emotional labor as a critical aspect of being a good hotelier, both hotels and hoteliers struggle with the outcomes associated with engaging in emotional labor constantly. Burnout, stress and emotional exhaustion are terms we are all but too familiar with. Why is There a Cost to Emotional Labor? Over three decades ago Arlie Hochschild (1983) introduced the concept of emotional labor that extended our understanding of work related challenges beyond physical labor. A majority of her work focused on understanding its impact on airline personnel and how they coped with it. She...
The U.S. Construction Pipeline Showed Healthy Growth in the First Quarter
Lodging Econometrics | May 2, 2018
The U.S. Construction Pipeline kicked off the first quarter of 2018 with 5,255 Projects/636,174 Rooms, up 4% by projects and 6% by rooms Year-Over-Year (YOY), according to analysts at Lodging Econometrics (LE). In comparison to the highest Pipeline level recorded by LE, the current quarter is just 628 Projects/149,373 Rooms, or 11% beneath the peak which occurred in Q208. We expect the Pipeline to continue its modest growth through 2018. There are 1,592 Projects/205,449 Rooms Under Construction, up 5% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months, at 2,297 Projects/272,459 Rooms are down 5% by pr...
The HVS Quarterly Macau Update
Christy Tung | April 30, 2018
By Christy Tung and Daniel J. Voellm With the introduction of various family-oriented resorts in the Cotai Strip, more diversified tourist base is embracing Macau as a destination, as compared to the casino crowd in the downtown area of old. The wide range of activities offered in these resorts, from gaming to non-gaming, have led tourists to visit Macau. The newly-opened resorts induced demand, notably tourists from mainland China, South Korea, and Japan, which greatly improved hotel performance in both occupancy and average rate (ADR). Macau Visitor Arrivals The results of diversifying Macau tourism from solely a gaming hub to a famil...
HVS Market Pulse: Annapolis, MD
Marcus R. Lee | April 26, 2018
By Marcus R. Lee, Chelsey Leffet Annapolis, Maryland's capital, is a historic seaport located 30 miles south of Baltimore and 30 miles northeast of Washington, D.C. Annapolis relies on tourism, state and local government activity, and renowned institutions of higher education for its economic livelihood. The Annapolis hotel market has been very stable over the last five years, with no proposed hotel development on the horizon. There have, however, been two hotel transactions in the last year, indicating the attractiveness and economic viability of this high-barrier-to-entry market to investors. Average rates for the city's hotels have r...
Rainmaker Closes Record-Breaking Q1 With Largest Sales Quarter in Company History
Rainmaker | April 26, 2018
Alpharetta, GA – April 26, 2018 - The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software reports high Q1 growth with the largest hospitality sales quarter in the company's history in addition to going live with several notable new brands. Also in Q1, Rainmaker appointed several new employees to fuel sales growth and product innovation, was honored by the City of Alpharetta with the Business of Excellence Award for the fifth consecutive year and hosted OPTIMIZE 2018, Rainmaker's annual user conference, in Miami, FL. "We're proud to kick off 2018 with such a strong sal...
The Outlook for U.S. Hotel Profits in 2018
Robert Mandelbaum | April 24, 2018
By Robert Mandelbaum and Bram Gallagher Ph.D. Since 2014, U.S. lodging industry owners and operators have seen a steady decline in the pace of revenue growth. In 2014, rooms revenue per available room (RevPAR) increased by a healthy 8.2 percent according to STR. Per the December 2017 edition of CBRE's Hotel Horizons®, RevPAR is forecast to increase by just 2.5 percent in 2018. Facing lackluster revenue growth, hotelier's sights are now focused further on down the operating statement to determine what the impact of slow top-line gains will be on bottom-line profits. To provide U.S. hotel owners and operators with a sense of expected ...
North American Hoteliers Spring Into Second Quarter of 2018 With Continued Growth
TravelClick | April 24, 2018
Strong Group Travel Drives Increases in Rates and Bookings NEW YORK – April 24, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's April 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are experiencing continued growth in the second quarter of 2018, with bookings up 2.7 percent and average daily rates (ADR) up 2.5 percent across all travel segments. Driving much of this growth is group travel, up 7.5 percent in bookings, 3.8 percent in ADR and 11.6 percent in revenue per available room...
Rainmaker Expands Business Operations in the Middle East and Africa by Adding Hicham Diab to Dubai Office
Rainmaker | April 23, 2018
ALPHARETTA, GA – April 23, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced the expansion of its Middle East and Africa (MEA) operations by naming Hicham Diab as regional director of business development MEA. Rainmaker currently provides solutions and services to several international hotel organizations in the region, including Kerzner International and Mövenpick Hotels & Resorts. Rainmaker's decision to add a regional director of business development will further enhance its service capabilities to both current and prosp...
The HVS Quarterly Taiwan Update
Christy Tung | April 19, 2018
By Christy Tung and Daniel J Voellm The positive impact from Taiwan's tourism source market diversification supported its increase in visitor arrivals, which witnessed a 10.1% YoY rise to 3.1 million in 2017 quarter four. To compensate for the loss of mainland Chinese tour groups, Taiwan strategically improved its relationships with other Asian countries, particularly in Southeast Asian countries. Notably, South Korea passed the 1 million visitor arrivals mark in the fourth quarter. Amid the shift of source markets, hotel players in Taiwan experienced the rebalancing towards more value-based demand. Overall Visitor Arrivals From the tim...
U.S. Hotels Operating at Highest Level of Efficiency Since 1960
CBRE Group, Inc. | April 18, 2018
Cost Controls Perpetuate Profit Growth Atlanta – April 18, 2018 – 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 recently released 2018 edition of Trends® in the Hotel Industry by CBRE Hotels' Americas Research, 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. "It is becoming i...
HVS Market Pulse: New Orleans, LA
Lauren Hock | April 18, 2018
By Lauren Hock New Orleans has continually been voted one of the top leisure destinations in the country; in 2017, the city and select institutions ranked top on lists from Condé Nast Traveler, Travel + Leisure, Southern Living, and Food & Wine, among others. By March 2018, the city had earned new accolades from almost 30 publications, notably starting off the year as the first stop on the New York Times' "52 Places to Go in 2018." The city's visibility increased in many ways in 2017, from hosting the relocated NBA All-Star Game, to providing the backdrop for the movie Girl's Trip, and counting down to 2018 for the central ti...
Factors Driving Hotel Wellness, Asset Management and Revenue
Mia A. Mackman | April 17, 2018
By Mia A. Mackman This article reveals how spa and wellness aspects are disseminated throughout the whole guest experience, and how wellness motivated design and construction elements complement property development, enhance marketability and engagement and is spurring new growth across the hospitality sector. This article also examines how critical management adjustments, and product and service enhancements can significantly add value, increase RevPAR and improve average daily rate performance. Built-In from the Ground Up Hotel design aspects have lined up with wellness construction counterparts and evolved into a thriving wellness-...
HVS Market Pulse: Birmingham, AL
Benjamin A. Levin | April 11, 2018
By Benjamin A. Levin Birmingham's economy is largely driven by the healthcare sector, with top employers such as the UAB Health System, Baptist Health System, and St. Vincent's Health System, whose hospitals and clinics are expected to change their name to Ascension. The name change is part of a greater effort to coordinate healthcare efforts across the entire Ascension system, which is the largest chain of Catholic hospitals in the world. The UAB Healthcare System is also undergoing some changes. U.S. News & World Report's top ranked hospital in Alabama added seven operating rooms to the Callahan Eye Hospital in April 2017, whi...
F&B: Which Is More Profitable – Outsourcing or In-House?
Court Williams | April 10, 2018
By Court Williams Hotel Food and Beverage (F&B) operations increased in revenue value by 4.9% during 2017, according to a report from STR. This is clear evidence that F&B is still an important revenue stream, second to accommodation income, but it is profitable only if companies optimize the way they operate the division. Outsourcing is a popular way to take the problem off a company's plate, but is it necessarily the best option for their hotel and bottom line? At HVS, we believe that profit should not be the primary motive and that the main reason for having food and beverage facilities in a hotel is to enhance the Rooms Divis...
Barcelona’s Stress Test – Will the Hotel Market Ride it Out?
Magali Castells | April 6, 2018
By Magali Castells and Sophie Perret Introduction This article presents recent supply and demand trends for Barcelona, before discussing some of the sociopolitical events that have impacted the market over recent months, as well as their effect on hotel performance and the outlook for the coming year. Barcelona is Spain's second-largest city, with a population of approximately 1.6 million in 2017, and is the capital of Catalonia. Located on the Mediterranean coast, 180 km southwest of the French border, Barcelona is the country's principal seaport and is the third-largest port in the Mediterranean region. Since the organisation of the O...
Transformational Spa and Wellness Value Propositions
Mia A. Mackman | April 5, 2018
By Mia A. Mackman We are living in a time centered around people, purpose and progress. While the need to remain adaptable and manage one's daily schedule endures. Lifestyles are evolving led by a multitude of new social, political and professional changes. This has created a substantial and prevalent focus on being happy, and living with passion, energy and a sense of personal well-being. The natural outcome of these changes generates a profound shift in thinking. As more people become increasingly self-aware, this impacts a number of things, including personal values and life goals. Until recent years, the trickle of change has been s...
