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
Rainmaker Announces Antitrust Clearance from U.S. Department of Justice, Clearing the Way for Completion of Multifamily Assets Sale
Rainmaker | November 29, 2017
Company expects the transaction to close in December ALPHARETTA, GA – Nov. 29, 2017 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it has received antitrust clearance from the U.S. Department of Justice to transition its Rainmaker LRO multifamily housing business and product portfolio to RealPage, Inc., a Richardson, Texas-based global provider of software and data analytics to the real estate industry. The company anticipates the transaction closing will take place by the end of 2017. On February 28, 2017, Rainmaker announced th...
How Washington DC’s Development Boom Has Impacted Hotel Construction
Dermot Ryan | November 28, 2017
by Dermot Ryan I haven't seen a development boom of this scale in Washington DC since the mid-nineties. These days, it seems that you can't walk a block without passing a construction site or seeing a few cranes on the skyline. And the momentum shows no signs of slowing. Last year, the number of construction permits issued in the District reached a five-year record high of 16,500. As of October 2017, over 15,200 construction permits have already been issued. At this pace, the total number of permits issued by the end of 2017 is likely to exceed last year. These construction permits include over 30 major commercial and residential develo...
U.S. Lodging Industry Performance Appears to Be Sustainable
CBRE Group, Inc. | November 28, 2017
CBRE Research Forecasts Occupancy to Increase Through 2019 Atlanta – November 28, 2017 – The U.S. lodging industry is forecast to enjoy continued levels of record occupancy through 2019. If achieved, this will mark a 10-year period of uninterrupted growth in this key industry metric, something U.S. hoteliers have never experienced in the past 86 years. Based on the recently released December 2017 edition of Hotel Horizons®, CBRE Hotels' Americas Research is forecasting the annual average occupancy rate for U.S. hotels to hit 65.9 percent in 2017 and essentially remain at this level through the end of the decade. "Given t...
HVS Key Takeaways: CHICOS 2017
Kristina M. D'Amico | November 27, 2017
By Kristina M. D'Amico and Kristin Rinaudo With U.S. and global attention focused on the Caribbean region following two record-breaking hurricanes that hurled through the region in September, the timing of CHICOS less than two months later opened the door to educated conversations within our industry. Interestingly, the dialog was hardly identifiable with the sensationalist news headlines and misrepresentations in the media that the Caribbean is somehow pulverized, as the 2017 Atlantic hurricane season winds down. Rather, attendees agreed that there is a need to educate the public on the geography of the region, and conversations de...
Market Pulse: Hotel Demand Takes Flight at LAX
Jessica White | November 22, 2017
By Jessica White The LAX/El Segundo area has experienced robust growth in hotel demand in recent years, buoyed by increased passenger volume at LAX, the addition of new upper-upscale hotels, and sustained corporate demand from El Segundo and the surrounding markets. LAX is the second-busiest airport in the nation, behind Atlanta's Hartsfield International Airport, and the gateway to Southern California. The airport reached a new peak in passenger volume in 2016, which grew 7.0% over the prior year, and this trend continued through the September 2017 year-to-date period. The addition of Delta's direct flights from China on Boeing's Dream...
Shifts In Revenue and Expenses Improve Hotel Food and Beverage Profits
Robert Mandelbaum | November 20, 2017
By Robert Mandelbaum Consumer dining trends tend to be more volatile than lodging trends. Recognizing this, hotel managers have made some significant changes in the way they offer food and beverage service to their guests. The traditional three-meal, all-purpose restaurants and room service are disappearing. Taking their place are self-service kiosks and grab-and-go concepts that provide quick-service for in-house guests. These changes help explain recent changes in hotel food and beverage department revenues, expenses, and profits. To understand recent trends in lodging food and beverage sales, we analyzed the financial performance of ...
Projects in Canada’s Construction Pipeline are Up 11% YOY
Lodging Econometrics | November 20, 2017
November 20, 2017 – PORTSMOUTH, NH – According to Lodging Econometrics (LE), the total Construction Pipeline in Canada currently has 228 Projects/30,875 Rooms, up 11% by projects Year-Over-Year (YOY). There are 80 Projects/11,076 Rooms Under Construction, up 13% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 87 Projects/10,215 Rooms, up 26%, while those in Early Planning are at 61 Projects/9,584 Rooms, down 8%. The top hotel companies in Canada's Construction Pipeline by projects are: Marriott with 47 Projects/7,121 Rooms, InterContinental Hotels Group (IHG) with 35 Projects/3,644 Room...
North American Hoteliers End 2017 Strong with Healthy Gains Across All Travel Segments
TravelClick | November 20, 2017
Both Group and Transient Leisure Travel Experience Particularly Solid Growth in Bookings NEW YORK – November 20, 2017 – As North American hoteliers enter the holiday season and round out the year, all travel segments are seeing a noticeable increase across the board in both average daily rates (ADR) and occupancy, up 1.4 percent and 3.9 percent respectively, during the fourth quarter of 2017, according to new data from TravelClick's November 2017 North American Hospitality Review (NAHR). Hoteliers are also experiencing a particularly strong uptick when it comes to bookings for both the group and transient leisure segments, u...
Hospitality Industry Impact Studies
Heidi S. Nielsen | November 16, 2017
By Heidi S. Nielsen With the pace of new supply growth accelerating, owners of existing hotels are increasingly concerned as to how their properties will fare in a more competitive market. As brands continually add new product types to fill a niche, hotel operators are becoming more aware of the potential threats from within their brand family. From Vīb and GLō, which are part of the Best Western family, to Tru by Hilton and Marriott's Moxy brand, hotel companies are introducing new product and revamping their brands' design prototypes, such as the Formula Blue initiative for the Holiday Inn Express, which reflects a new contemporary ...
HFTP Announces Global Industry Research Project by Forrester Group
HFTP | November 15, 2017
AUSTIN, TEXAS, USA (November 15, 2017) — The leaders of Hospitality Financial and Technology Professionals (HFTP®) used its inaugural HITEC Dubai to announce an extensive global research project today that will provide guidance on the state of the industry; provide existing industry stakeholders with additional resources, and enrich the association's understanding of financial and technology trends that will shape the industry's future. "HFTP has just celebrated its 65th anniversary as a not for profit association, and our leadership intends to offer this foundation and provide a platform for the industry to build...
New Openings Growing Steadily as the Cycle Matures
Lodging Econometrics | November 15, 2017
November 15, 2017 – PORTSMOUTH, NH – By the end of the third quarter, 701 Hotels/82,484 Rooms had already opened in the U.S. with another 278 Projects/29,532 Rooms forecast to open by year-end according to analysts at Lodging Econometrics (LE). The Total 2017 Forecast is 979 Projects/112,016 Rooms, representing a 12% increase over the actual number of Hotel Openings in 2016, which stood at 850 Hotels/99,881 Rooms. With slight increases in occupancy being recorded, new supply in 2017 should be easily absorbed. Demand growth, however modest, still continues to exceed supply growth. Almost half of the hotels expected to open t...
Key Takeaways: Lodging Conference
J. Carter Allen | November 15, 2017
By J. Carter Allen Economic Outlook – Baring political and geopolitical uncertainty, the economy is anticipated to continue to expand by 2.5% to 3.0% annually for the next two years. Lodging Fundamentals – Demand continues to outpace supply, a relationship that is forecast to change in 2018. New Supply – The supply pipeline continues to grow, but remains well below the peak set in 2008. Brand Growth – Brand companies continue to look for opportunities to increase scale in order to provide consumers with more options, which present both opportunities for new development and concerns over market saturation for owne...
Rainmaker Ends Q3 2017 with High-Growth Momentum
Rainmaker | November 15, 2017
Company wraps up quarter with 30 percent growth in number of customers year-over-year ALPHARETTA, GA – Nov. 15, 2017 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it ended the third quarter of 2017 with record-setting performance and growth, advancing its position as a global technology leader. Since July 1, Rainmaker has expanded its reach in both the number of customers and the number of properties using its groundbreaking solution suite, which include guestrev®, grouprev®, revcaster®, and revintel®. Year-over-...
Nigeria, Senegal And Cape Verde Dominate the West African Hotel Pipeline with 77% of the Total Planned Hotel Rooms
API Events | November 14, 2017
W Hospitality Group's 2017 Hotel Chains Pipeline report shows that hotel groups need to tackle lengthy development periods in West Africa JOHANNESBURG, South Africa, November 14, 2017 -- West Africa has been at the heart of the continent's growth and economic transformation in recent years. Notwithstanding the sharp slowdown experienced in 2016 and 2017, the region's economy is expected to rebound in 2017 onwards. Commodity-based economies, like Nigeria, are slowly recovering from the fall in oil prices and oil production, while countries like Côte d'Ivoire, Mali, and Senegal have shown economic resilience and sustained growth. As...
How the Middle East is Drawing in Chinese Visitors
JLL Real Views | November 13, 2017
By Emily Perryman Whether they're after windswept deserts, archaeological treasures or luxurious beach resorts, China's growing middle class is increasingly considering the Middle East as their next holiday destination. Amid rising affluence levels, the number of travelers from China has soared in recent years, making it the world's largest outbound tourism market. But in addition to visiting countries in the Far East and Europe, Chinese tourists are seeking new destinations off the beaten path. Last year, around 540,000 tourists visited Dubai from China, up from 450,000 in 2015. It makes China one of Dubai's top 10 source markets, acco...
Upper Midscale and Upscale Are the Largest Chain Scales in the U.S. Construction Pipeline Comprising 67%
Lodging Econometrics | November 10, 2017
November 10, 2017 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Upper Midscale category stands at 2,066 Projects/205,330 Rooms, and has the largest project count of all chain scales in the Total U.S. Construction Pipeline. The second largest is the Upscale category which has 1,274 Projects/164,628 Rooms. Together, the Upper Midscale and Upscale Pipelines comprise 67% of all projects in the Total Pipeline. The brands with the largest number of projects in Upper Midscale are; IHG's Holiday Inn Express with 442 Projects/41,053 Rooms; Hilton's Home2 Suites 348 Projects/36,439 Rooms and Hampton Inn &...
The Future of Casual Dining: What to Expect
Court Williams | November 9, 2017
By Court Williams Targeting future audiences is a longstanding marketing strategy, and that's exactly what the casual dining restaurant industry is doing in a current effort to survive. Cracker Barrel's Holler and Dash, is a new chain with a fast-casual concept built around fresh-baked biscuits. With bare-brick walls and concrete floors, H&D is targeting a younger demographic than its parent chain. This is part of an industry-wide shift by outdated restaurant chains to reinvent themselves, by creating "offshoot" brands under a new name and image that are aimed at Millennials and younger diners. Downward Drift A casual dining industr...
Marriott, Hilton and IHG Comprise 68% of All Projects in Total U.S. Construction Pipeline
Lodging Econometrics | November 9, 2017
November 9, 2017 – PORTSMOUTH, NH 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 1,298 Projects/166,419 Rooms, Hilton with 1,270 Projects/144,191 Rooms and IHG with 817 Projects/83,728 Rooms. These 3 franchise companies comprise 68% of all projects in the Total Pipeline. The largest brands for each of these companies are; Marriott's Fairfield Inn with 284 Projects/27,411 Rooms and Residence Inn with 189 Projects/23,605 Rooms; Hilton's Home2 Suites with 348 Projects/36,439 Rooms and Hampton In...
Travelport Global Survey Highlights Different Digital Traveler Habits
Travelport | November 8, 2017
- 81% use online reviews when researching their journey - 43% want to switch off when away, but 60% lost without a smartphone - 16 app categories are typically used on a trip - India tops global rankings of digital travelers LANGLEY, U.K., Nov. 8, 2017 -- Travelport (NYSE: TVPT), the leading Travel Commerce Platform, published today the results of a Global Traveler Survey of 11,000 people worldwide that highlights the use of digital tools when planning, booking and experiencing a journey. The main findings from the global report are: When planning a trip: 81% use peer to peer reviews when researching a trip 47% use voice search, us...
Rising Costs Prove Challenge to UK Hotels Prompting Slowdown in RevPAR Growth
HVS | November 8, 2017
08 November 2017, London: Some investors could become increasingly wary of hotel assets as RevPAR plateaus amid predictions of labour shortages and increasing costs, according to Hotel Bulletin Q3 2017 published this week by HVS, AlixPartners, STR and AM:PM. The Bulletin reports that in Q3 2017 average growth in RevPAR (rooms revenue per available room) at 5% was the lowest level since Q1 2016, although the long-term outlook for UK hotels remains firmly positive. While these results outpace UK GDP growth, which has averaged below 1% in the same period, the impact of a lower growth environment, global political uncertainty and an increas...
Marriott Has the Largest Construction Pipeline of Any Franchise Company in the U.S.
Lodging Econometrics | November 8, 2017
November 8, 2017 – PORTSMOUTH, NH Marriott International, due in part to the acquisition of the Starwood brands, currently has the largest construction pipeline of any franchise company with 1,298 Projects/166,419 Rooms. Their largest brands in the Total Pipeline are: Fairfield Inn with 284 Projects/27,411 Rooms, Residence Inn with 189 Projects/23,605 Rooms and TownePlace Suites with 183 Projects/18,590 Rooms. Marriott has the most rooms currently Under Construction with 516 Projects/69,721 Rooms, which represents almost 1/3 of all Pipeline rooms Under Construction. Additionally, they have the most rooms Scheduled to Start Constru...
Travel Trends Index: Domestic Leisure Travel Withstands Harvey and Irma
U.S. Travel Association | November 7, 2017
Numbers are up despite the devastating hurricane season; international inbound travel remained stable. WASHINGTON (November 7, 2017)—Domestic leisure travel led all travel segments in September 2017 despite the destructive hurricanes that pummeled U.S. states and territories during a normally busy season, according to the latest Travel Trends Index (TTI). The increase marked the 93rd consecutive month of travel growth. However, overall travel volume grew at a slower year-over-year rate in September than in August. Domestic business travel dipped modestly, likely due to a calendar shift in Jewish holidays and Hurricanes Harvey and ...
New York Leads U.S. Markets in Hotel Construction Pipeline Followed by Houston, Dallas, Nashville and Los Angeles
Lodging Econometrics | November 6, 2017
November 6, 2017 – PORTSMOUTH, NH – According to recent reports, analysts at Lodging Econometrics (LE) state that the five U.S. markets with the largest hotel construction pipelines by project count are: New York with 181 Projects/30,225 Rooms; Houston with 148 Projects/16,398 Rooms; Dallas with 143 Projects/17,580 Rooms; Nashville, which hit a cyclical peak this quarter, has 124 Projects/16,699 Rooms; and Los Angeles has 112 Projects/16,780 Rooms. New York has the most New Hotel Openings forecasted for 2017 with 39 Hotels/6,128 Rooms, then Dallas, which is expected to open 37 Hotels/4,510 Rooms followed by Houston with 27 H...
CEO Pay in Gaming: Founders vs Corporate Executives
Keith Kefgen, New York | November 6, 2017
By Keith Kefgen Besides technology, the gaming industry has one of the largest percentages of entrepreneurs running their respective companies. Larger than life personalities such as Steve Wynn and Sheldon Adelson actually cast a shadow well beyond gaming. But that is changing as entrepreneurs are slowly being replace by corporate execs such as Keith Smith at Boyd, Jim Murren at MGM, Tim Wilmott at Penn and Mark Frissora at Caesars. It is interesting to see how CEO compensation has changed as this process has unfolded. Generally speaking, the entrepreneurs took more of the compensation in equity, while corporate executive appear to have...
