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
Hard Rock International Appoints Todd Hricko as Senior Vice President & Head of Global Hotel Development
Hard Rock International | April 5, 2018
HOLLYWOOD, Fla., April 5, 2018 -- Hard Rock International announces the promotion of Todd Hricko to senior vice president & head of global hotel development, where he will oversee the development of hotels for the entire brand, working directly under Hard Rock International's Chief Operating Officer Jon Lucas. Supported by Hricko's more than 20 years of property development experience, the new position will showcase Hricko's strong hospitality network, paving the way for collaborations with some of the largest industry-leading owners and operators of commercial real estate in the United States. Hricko joined the Hard Roc...
The Growing Use of Technology and Robotics in Food Service
Court Williams | April 5, 2018
By Court Williams Opponents of artificial intelligence (AI) have long predicted the time will come when robots take over the jobs of human employees. That day has arrived, with a number of food service companies using technology in previously human-filled roles. Reasoning Behind the Shift Ever since vending machines started to dispense food in 1897, food service automation has gained ground, moving towards self-service and eventually machine services. There are multiple reasons why food service companies are looking for alternatives to the traditional ways of producing and serving food, including: The shortage of kitchen workers, whic...
HVS In Focus: Capri Island, Italy
Ezio Poinelli | April 3, 2018
By Ezio Poinelli, Pavlos Papadimitriou, Carlo Reitano Introduction Capri, together with Ischia and Procida, is the one of the three main islands of Campania, a region in Southern Italy with an area of about 13,500 km² and a population of 5,836,317 (2016). The distinctive features of the region are its mild climate, the abundance of art and historical sites, the strong passion for music and food as well as the presence of Mount Vesuvius, one of the most active volcanos in Europe located in the Gulf of Naples. Overlooking the Tyrrhenian sea, many leisure tourism destinations developed over the years in Campania, such as Capri, Amalfi...
HVS In Focus: Singapore, Preparing for a Smart Future
Kyu Baek Kim | March 29, 2018
By Kyu Baek Kim and Hok Yean CHEE The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of 714.3 square kilometres. It is situated at the southern tip of the Malayan Peninsula, between Malaysia and Indonesia. With an economy supported by its growing population of approximately 5.6 million, Singapore rose as an economy in the latter half of the 20th century and today serves as a global commerce, finance, and transportation hub. According to the World Travel & Tourism Council (WTTC), the direct and total contribution of Travel & Tourism to Singapore's Gross Domestic Prod...
HVS Market Pulse: Downtown Chicago, IL
Dana Waud | March 27, 2018
By Dana Waud and Stacey E. Nadolny Chicago, America's "Second City" or, in the words of the poet Carl Sandburg, the "City of the Big Shoulders," has long enjoyed global recognition for its stories, intrigue, and ingenuity. The city's tourist attractions, international companies, celebrities, special events, and North America's largest convention center place it among the prime destinations in the U.S. for business, leisure, and conventions. The diverse neighborhoods surrounding the Loop are abundant in music, art, and culture, while Downtown Chicago's commercial and tourist attractions include Willis Tower (formerly Sears Tower), Navy P...
Spring Hotel Outlook Shows Stability and Consistency in North American Markets
TravelClick | March 27, 2018
Strong Transient Booking Growth is Welcomed News for Hoteliers in Q1 NEW YORK – March 27, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's March 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are continuing to see growth across all travel segments, up 0.7 percent in average daily rates (ADR) and 1.7 percent in bookings during the first quarter of 2018. This marks an ongoing positive trend from the beginning of the year. Transient travel in particular is experiencing solid growth in ...
The Rainmaker Group Kicks Off 2018 With Record-Setting Performance
Rainmaker | March 27, 2018
Company experiences astounding sales increase of 187 percent year-over-year ALPHARETTA, GA – March 27, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it has kicked off 2018 with record-breaking performance and growth. In January alone, the company experienced a sales increase of 187 percent year-over-year. In addition, the company's service revenue, which includes pricing services and revenue best practices consulting, showed an increase of 107 percent. In January and February, Rainmaker expanded its reach in both the number...
Berlin – In Search of ADR Growth – an HVS Market Pulse Overview
Dayk Balyozyan | March 22, 2018
This market pulse provides an overview of the tourism and hotel market in Berlin, Germany. It discusses recent tourism trends, challenges encountered in pushing average rate and provides a summary of the extensive hotel pipeline. Click here to view. ...
Rainmaker VP to Speak at Tribal Casino & Hotel Development Conference
Rainmaker | March 22, 2018
Presentation to focus on the tracking mechanisms casinos can use to increase profitability ALPHARETTA, GA – March 22, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that Angie Dobney, vice president of casino and gaming sales, will be a featured speaker at the 11th Annual Tribal Casino & Hotel Development Conference. The conference will be held March 26-27 at the Pechanga Resort & Casino in Temecula, Calif. Rainmaker is a gold-level sponsor of the event. Dobney will participate in a panel discussion entitled, How Tracking...
The Changing Dynamics of Hotel Ownership (Video Link)
HVS | March 21, 2018
On 13 March 2018 Russell Kett, chairman of the London office of HVS, moderated a panel at the Young Hoteliers Summit, held at EHL, the Lausanne hotel school. Panellists were Giovanni Forni (Cedar Capital Partners), Marc Socker (Invesco), Henri Wilmes (A&O Hotels & Hostels) and Oliver Judge (Park Hotels & Resorts). ...
Measuring the Investment in Training
Robert Mandelbaum | March 19, 2018
By Robert Mandelbaum In 2016, the average property in our Trends® in the Hotel Industry survey sample spent 31.3 percent of its total revenue, or 42.8 percent of its total operating expenses on labor costs. This includes the salaries, wages, benefits, service charges, and bonuses paid to employees, as well as payments made for contracted labor. By far, labor related costs are the largest operating expense for hotels regardless of property type. Not only is labor a large expense, but it is a growing expense. According to the Bureau of Labor Statistics, the average total compensation for U.S. hospitality employees has increased more t...
Turn Data into Insights to Know What Your Guests Want, Creating Memorable Hotel Guest Experiences Along the Way
the Author | March 8, 2018
By Terri Miller, Chief Executive Officer & Co-Founder at Concilio Labs Last week, I had a revelation while I discussed peanut butter. I chatted with a nice woman in the aisle at my local grocery store. We debated the merits of crunchy vs. smooth, natural vs. added sugar, and of course, generic vs. branded. We each left, satisfied, with different types of peanut butter in our carts. The options were seemingly endless, as the store stocked well over a dozen varieties across several brands and sizes. This small discussion illustrates an issue that hoteliers face every day. Beyond the obvious differences of luxury vs. budget, business v...
Consumer Behavior—Motivations, Emotions
Caitlin Hayes | March 8, 2018
Helen Chun's passion is to understand human behavior—the motivations and emotions of consumers—and strategies for marketing and consumer satisfaction. When we think of a good consumer experience, we're apt to think of the experience itself—going to a movie, eating a good meal, or staying at a nice hotel. But the pleasure of that experience, says Helen Chun, Cornell School of Hotel Administration, extends beyond the boundaries of the event itself. "I'm looking at what happens before the consumer arrives at your property, the pre-consumption stage, and then what happens after the visit, the post-consumption stage," Chun ...
HVS Manhattan Lodging Report Q4-2017
Roland deMilleret | March 8, 2018
by Roland deMilleret and Nicole Roantree The New York City borough of Manhattan is among the strongest, most diverse, and most dynamic hotel markets in the world. Manhattan's resiliency has been borne out over the course of recovery from three national recessions since 1989. The following report examines the effects of past recessions on hotel performance in Manhattan, as well as the dynamics of hotel supply and demand and forecasts for the health of the local lodging industry in the near term. Historical Hotel Performance in Manhattan Through year-end 2016, demand growth modestly outpaced increases in supply; on a twelve-month moving a...
Rate and Bookings Growth Continue Positive Trend for Hoteliers in Early 2018
TravelClick | March 8, 2018
Both Group and Transient Travel Segments Experience Boost During First Quarter NEW YORK – March 8, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's February 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are continuing to experience healthy gains across both average daily rates (ADR) and bookings for all travel segments, up 0.6 percent and 1.3 percent, respectively, in the first quarter of the year. Transient bookings are particularly strong in Q1, up 1.9 percent across the segment ...
2018 European Hotel Valuation Index
Simon Hulten | March 6, 2018
By Simon Hulten and Sophie Perret 2017 was a spectacular year. The headwinds from geopolitical uncertainty and instability proved surmountable, and hotel values across Europe grew by 3.9%. Read the article in full for an in-depth look at average hotel values across Europe. ...
North America Tops Global Construction Pipeline With 6,226 Projects Followed by Asia Pacific and EMEA
Lodging Econometrics | March 5, 2018
March 5, 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 top regions by project count are: North America with 6,226 Projects/797,949 Rooms, Asia Pacific with 4,231 Projects/911,454 Rooms and EMEA with 2,174 Projects/418,391 Rooms. The top countries by project count are the United States with 5,151 Projects/623,695 Rooms and China with 2,519 Projects/560,664 Rooms. The U.S. accounts for 41% of the projects in the Global Pipeline while China accounts for 20%, resu...
Africa’s Hospitality Market: The 2017 Year in Review
HTI Consulting | March 5, 2018
The African hotel market experienced another eventful and evolutionary year in 2017. The continent continued to attract new regional and global investment, whilst economic and political events, currency shifts and fluctuating tourism demand brought both risks and rewards to hotel markets across the region. "Both upward and downward trends were noticeable across the continent in 2017, with more positive conditions in West Africa as oil economies geared up in response to a recovering oil price," says Wayne Troughton of African-based specialist hospitality, real estate and leisure consulting company, HTI Consulting. "Political instability ...
7% Year-Over-Year Growth in the Global Construction Pipeline With 12,631 Projects in Total Pipeline
Lodging Econometrics | March 2, 2018
March 2, 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 Global Pipeline stands at 12,631 Projects/2,127,794 Rooms, up 7% by projects Year-Over-Year (YOY). There are 5,847 Projects/1,101,707 Rooms Under Construction, up 6% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months, at 3,744 Projects/548,876 Rooms, are up 2% while projects in Early Planning at 3,040 Projects/477,211 Rooms are up 17% YOY. The leading franchise companies in the Global Con...
European Hotel Transactions Reach Record Levels as Investors Step Up Interest in Southern Europe, Says HVS Report
HVS | March 2, 2018
2 March 2018, London: European hotel transaction volume reached €21.7 billion in 2017, up 22% on 2016 and the second largest figure ever recorded, according to the annual European Hotel Transactions report published this week by HVS and its brokerage and investment services division HVS Hodges Ward Elliott. Single asset transactions in Europe were up 16% year-on-year to a volume of €12.4 billion, continuing an upward trend and accounting for 57% of transaction volume, with some 323 hotels – 59,500 rooms - sold in 2017 for over €7.5 million. Portfolio volume showed a 29% increase in activity to €9.3 billion with...
The Transformation of the Hotel Industry in the 2010s
Robert A. Rauch | March 1, 2018
By Robert A. Rauch, CHA We have officially been transformed into the John Naisbitt coined "hi tech, hi touch" world, 33 years after the release of his book. Led by revenue management but now including distribution, channel management, social media marketing, Web 2.0 and more. The industry has been permanently changed. Digital Marketing is required to both acquire and retain guests. Believe it or not, only a real quality revolution gives you the competitive edge, because brand loyalty is very limited in today's millennial dominant hospitality market. Since hospitality businesses do not hold customers captive, the only way we can prevent ...
Growth Remains Steady for China’s Construction Pipeline With Projects Up 6% YOY
Lodging Econometrics | February 28, 2018
February 28, 2018 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that according to the recent China Construction Pipeline Trend Report, the Total Pipeline has 2,471 Projects/548,628 Rooms, up 6% by project Year-Over-Year (YOY). There are 1,743 Projects/374,156 Rooms Under Construction, up 4% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 365 Projects/80,216 Rooms, up 28% by project YOY, while projects in Early Planning at 363 Projects/94,256 Rooms are down 5%. The top hotel companies in China's Construction Pipeline are: Hilton Worldwide with 327 Projects/77,270 Rooms,...
Hyatt and Tianfu Minyoun Hospitality Join Forces for 50 Hyatt Place and Hyatt House in China Over the Next Five Years
Minyoun Hospitality | February 28, 2018
CHICAGO--Tianfu Minyoun Hospitality (Tianfu Minyoun) and Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt and Tianfu Minyoun entered into a strategic development agreement to drive the expansion of Hyatt Place and Hyatt House hotels in China. The franchise agreements for the first three Hyatt-branded hotels under this strategic development agreement were also signed on the same day. As leading hospitality companies in China and the United States, Tianfu Minyoun and Hyatt will bring together their resources and leverage their respective strengths for the development of Hyatt Place and Hyatt House hotels, with plans to bring ...
HVS Market: Snapshot Seychelles Hundred Islands of Paradise
Larissa Lam | February 28, 2018
By Larissa Lam and Daniel J Voellm Seychelles Tourism Records Stable Growth Seychelles continues to prove its popularity in the European market as a hideaway holiday destination while gaining reputation in the Middle Eastern and Asian markets. Republic of Seychelles is an archipelago of 116 islands located in the Western Indian Ocean east of East Africa. Across all 116 islands, Seychelles has a total land area of 455 square kilometers. The country consists of two distinct island groups: the Mahé group, in the north, and a chain of low-lying coral islands stretching away to the south. All of the country's principal islands belong ...
