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. Hotel Revenue Growth Driven by Overlooked Sources in Lower Chain Scales and Secondary Markets
CBRE Group, Inc. | February 28, 2017
CBRE Hotels' Americas Research Forecasts 2.2 Percent RevPAR Compound Annual Growth Rate Through 2021 Atlanta – February 28, 2017 – U.S. hotels enjoyed another year of life at the performance peak in 2016 and are forecast to continue to live the high life in 2017. According to the recently released March 2017 Hotel Horizons® forecast report from CBRE Hotels' Americas Research, rooms revenue (RevPAR) grew for a seventh consecutive year in 2016, and the prospects for RevPAR growth are projected to be solid for the foreseeable future. What is surprising, however, is the impetus for sustained revenue expansion comes from some...
The Rainmaker Group Announces Sale of Multifamily Housing Assets to RealPage, Inc.
Rainmaker | February 28, 2017
ATLANTA, GA – February 27, 2017 (4:15 p.m. EST) – The Rainmaker Group, a premier provider of profit optimization and revenue intelligence solutions to the hospitality and gaming industries, announced today that it has agreed to sell 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. "This is a win-win for both our LRO and hospitality customers," said Tammy Farley, president of the Rainmaker Group. "We're obviously proud of our LRO successes over the past decade and this combining of two p...
HVS Key Takeaways: Tourism, Hotel Investment & Networking Conference (THINC) Sri Lanka 2017
Hemangi Bhandari | February 27, 2017
By Hemangi Bhandari The 2nd edition of the Tourism, Hotel Investment & Networking Conference (THINC) Sri Lanka, hosted by HVS, concluded on 8 February 2017. 170 delegates, representing hotel companies and operations, banks and financial institutions, consulting firms, ownership and development, as well as architecture and design, gathered in Colombo to provide insights into the dynamic Sri Lankan hospitality and tourism industry. In addition to deliberating the prevalent trends and current performance of the hotel sector, stakeholders emphasised the vast potential of the island as well as the key challenges that lay ahead. The follo...
Dragon Trail Interactive Appoints Roy Graff as Managing Director EMEA and Launches New Office in London
Dragon Trail Interactive | February 26, 2017
Beijing, China. – Feb. 27, 2017 – Dragon Trail Interactive, an award winning digital marketing agency and technology company with a unique focus on China and travel, today announces the appointment of leading China tourism expert Roy Graff as Managing Director of Europe, the Middle East and Africa (EMEA). Dragon Trail also inaugurates the opening of its first overseas office in London, with an official launch event hosted on the 15th March in London. Roy will lead Dragon Trail's further expansion in Europe, one of Chinese tourists' preferred long haul destinations, and in the Middle East and Africa, two relatively new but fa...
Low Interest Rates Prompts Rise in Financing on European Hotels, Says HVS Lending Survey
Peter Szabo | February 24, 2017
By Peter Szabo Introduction Through our work with hotel investors and developers, we have seen a major uptick in the availability of hotel financing across all European markets in recent years. The widespread availability of bank financing for hotels is partly due to stronger hotel market fundamentals and partly to a more resilient banking sector across most of Europe. Paired with historically low interest rates, this trend has resulted in increased transaction volumes with many deals seeing the use of all available debt. The Survey HVS London reviewed and analysed the current lending environment for hotels following a comprehensive sur...
Canadian Lodging Outlook Quarterly 2016-Q4
HVS Canada | February 22, 2017
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. If you would like a detailed hotel performance data for all of Canada, STR offers their Canadian Hotel Review. The Canadian Hotel Review is available by annual subscription. For further Information, please contact: info@str.com or +1 (615) 824-8664 ext. 3504. ...
New York Boasts Largest Hotel Construction Pipeline in U.S. at Year-End 2016
Lodging Econometrics | February 21, 2017
February 21, 2017 – PORTSMOUTH, NH – Lodging Econometrics (LE) reports at that at year-end 2016 the five markets with the largest hotel construction pipelines by project count are: New York with 192 Projects/30,541 Rooms; Houston with 169 Projects/18,373 Rooms; Dallas with 140 Projects/17,291 Rooms; Nashville with 121 Projects/14,873 Rooms; and Los Angeles with 111 Projects/18,723 Rooms. Since the fourth quarter of 2011, New York has continuously had the highest project count of any market in the Pipeline while Houston has had the second largest for the last thirteen quarters. Future supply growth should be strong in these f...
Smaller US Hoteliers Will Take More Risk to Stay Relevant
Fitch Ratings | February 21, 2017
Fitch Ratings-New York-21 February 2017: Smaller hotel brand owners and operators are flexing their balance sheets to support rooms system growth to stay relevant amid industry consolidation and increasing competition from alternative accommodation providers, according to Fitch Ratings. This could weaken the credit profiles for smaller lodging C-Corp issuers by increasing leverage and adding more volatile owned and leased assets and contingent obligations in the form of off-balance sheet performance and loan guarantees. Fitch expects more consolidation in the sector involving smaller issuers, which poses merger and acquisition event ris...
Impacts of Major Brand PIPs: Industry Perspectives by HVS / By McKenna Luke, Dinaker P. Mallya
McKenna Luke | February 20, 2017
Limited-service hotel brands have emerged as some of the top choices for consumers and investors alike. With a national reputation for value and quality, brands such as Hampton by Hilton and Holiday Inn Express have created high expectations for guests across the board. For hotel owners, these brands have created a product that produces strong RevPAR index and house-profit levels. These brands have acknowledged the wide array of product offering across their assets, mostly due to the aging physical condition given more relaxed standards during the Great Recession and need for refurbishment across hundreds of hotels nationwide. In this a...
Moderate Growth Continues in the Hotel Construction Pipeline with Projects Up by 12% YOY
Lodging Econometrics | February 16, 2017
February 16, 2017 – PORTSMOUTH, NH – According to the year-end United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the Total Construction Pipeline ended 2016 with 4,960 Projects/598,688 Rooms, up 12% by projects and 10% by rooms Year-Over-Year (YOY). Q4 2016 is the 19th consecutive quarter of pipeline growth, since the cyclical bottom of 2,720 Projects/331,129 Rooms reported in Q1 2012. At year-end, there were 1,520 Projects/196,409 Rooms Under Construction, up by 208 projects YOY or 16%. Projects Scheduled to Start in the Next 12 Months, at 2,392 Projects/268,843 Rooms, were up 466 projects, 24%...
Hotels Give To Get: An Analysis of Complimentary Services and Rooms
Robert Mandelbaum and Viet Vo | February 16, 2017
By Robert Mandelbaum and Viet Vo The offering of complimentary services and amenities by U.S. hotels is on the rise. From 2007 to 2015, hotel expenditures on complimentary food, beverages, in-room media, services, and gifts just within the rooms department increased at a compound annual growth rate (CAGR) of 3.6 percent. For comparison purposes, all hotel operating expenses rose at a 1.1 percent CAGR during the same time period. Much of the proliferation can be attributed to brand standards which mandate the offering of complimentary food, beverages, newspapers, internet, and other services and amenities. Most frequent travelers, especi...
Key Considerations for Historic Building Conversions
Shannon L. Sampson | February 14, 2017
By Shannon L. Sampson , McKenna Luke , Mallory B. Hall While conversions of historic buildings to high-end hotels have been taking place for decades, the trend has accelerated over the past several years, driven by a demand for one-of-a-kind hotel designs. The following looks at some of the challenges and rewards developers and hotel companies can expect when tackling a historic conversion project. The Opportunities The redevelopment of historic buildings offers quantitative and qualitative rewards, and these apply to both the developers and the communities and neighborhoods in which their projects are set. On a cost basis, for example,...
HVS Market Pulse: Houston
J. Carter Allen | February 13, 2017
By J. Carter Allen Houston is a city of DOERS, per the latest ad campaign presented by Chevron and released in advance of Super Bowl LI, held in Houston on February 5, 2017. The ad incites the can-do spirit of a city without limits. A city that is a global leader in energy and healthcare, that consistently ranks near the top for fastest growing major metro areas, and that once put a man on the moon. While the "We choose to go to the Moon" days are gone (but not forgotten), Houston's reputation as a tough, resilient, city of DOERS remains. Nowhere is this more evident than in Downtown Houston. Long known as an office market with very few...
Healthy Consumer, Spending Shifts Benefit U.S. Lodging & Leisure
Fitch Ratings | February 10, 2017
Fitch Ratings-New York-10 February 2017: A healthy U.S. consumer bodes well in the near term for the U.S. lodging and leisure sectors, according to the first edition of Fitch Ratings' "All Inclusive: U.S. Lodging & Leisure Handbook." "With consumer confidence, employment and household balance sheets at or near the strongest levels in 15 years, lodging and leisure sector fundamentals are on solid near-term footing," says Stephen Boyd, Senior Director, U.S. Corporates. "Longer term, consumer preferences for experiences rather than physical goods will benefit the sector, specifically hospitality and travel-...
International Travel to U.S. Finally Returns to Pre-9/11 Levels
U.S. Travel Association | February 8, 2017
International travel's share of U.S. exports rises to $247 billion, the highest level since 2000, according to new Commerce Department data WASHINGTON (February 8, 2017)—International travel's share of total U.S. exports reached 11.2 percent in 2016, according to U.S. Travel Association analysis of the latest Department of Commerce data. This is the sector's highest share since 2000, just before fallout from the September 11, 2001 attacks caused U.S. market share to plummet versus other global destinations. Travel exports edged up 0.4 percent in 2016 to a record $247 billion. By comparison, overall U.S. exports decline...
Travel Trends Index: Following a Strong 2016, Outlook Improves for Domestic Biz Travel
U.S. Travel Association | February 7, 2017
WASHINGTON (February 7, 2017)—Travel weathered an abundance of challenges and continued to grow throughout 2016, according to the U.S. Travel Association's latest Travel Trends Index (TTI). The final TTI based on 2016 data shows that travel to and within the U.S. grew 2.4 percent from December 2015, while the forecast component shows that travel will continue to expand at a moderate pace in the near term. The story of the latest TTI is undoubtedly domestic business travel. Following a TTI based on November's data showing renewed strength for domestic business, buoyed by a post-election stock market surge, the sector's ...
Reliance on Corporate Business Prompts Growing Divide in UK Hotel Performance, Says Hotel Bulletin
HVS | February 7, 2017
07 February 2017, London: A growing divide is emerging in the UK's hotel sector between the performance of leisure-based hotels compared with primarily business-orientated properties, according to the latest Hotel Bulletin Q4 2016, published this week by HVS, AlixPartners, STR and AM:PM. Those hotels in cities with a more developed tourism industry performed noticeably better in Q4 2016 as a result of the weaker pound attracting foreign tourists and Brits choosing staycations. Belfast, for example, saw RevPAR (rooms revenue per available room) growth of 23% during the final quarter of 2016 on the back of significant investment in the ci...
Center Stage at ALIS: An HVS Perspective
Tanya J. Pierson | February 6, 2017
By Tanya J. Pierson , Kasia M. Russell , Jessica White The 2017 ALIS conference registered the strongest attendance since 2008, with the theme of "Please Stand By…" reflecting the uncertainty regarding the outlook for the hotel industry at this time. It was also the platform for the introduction of Hilton's newest soft brand, Tapestry by Hilton. And the consensus is… While many were speculative entering the second half of 2016, ALIS attendees were cautiously optimistic about 2017 given recent gains in the stock market and the pro-business focus of the new administration. The industry has experienced a "soft landin...
U.S. Travel Welcomes Senate Confirmation of Rex Tillerson for Secretary of State
The U.S. Travel Association | February 2, 2017
WASHINGTON (February 2, 2017)—U.S. Travel Association President and CEO Roger Dow issued the following statement congratulating Rex Tillerson on his confirmation as Secretary of State by the U.S. Senate: "We applaud the U.S. Senate for confirming Mr. Tillerson into this crucial role, and look forward to working with him and his team. "The Department of State plays a critical role in our country's travel policies, which in turn play an outsize part in the U.S. economy. During his confirmation hearings, Mr. Tillerson indicated that he understood the need for measures to strengthen security while still keeping the econo...
North American Hoteliers Greeted with Growth in the New Year
TravelClick | February 1, 2017
Rates and Revenue per Available Room Show Promising Gains in First & Second Quarter of 2017 NEW YORK – February 1, 2017 – As North American hoteliers kick off the early months of 2017, most travel segments are experiencing healthy average daily rate (ADR) and committed occupancy* gains in both the first and second quarter of 2017, according to new data from TravelClick's January 2017 North American Hospitality Review (NAHR). Occupancy for the transient segment in particular is seeing significant growth in the second quarter, up 10.8 percent for transient leisure travel, 8.6 percent for transient business travel and 10.4 ...
U.S. Travel Association Lauds Elaine Chao Confirmation for Secretary of Transportation
The U.S. Travel Association | February 1, 2017
WASHINGTON (February 1st, 2017)—U.S. Travel Association President and CEO Roger Dow released the following statement upon Transportation Secretary Elaine Chao's confirmation by the U.S. Senate: "The U.S. travel community applauds the Senate for confirming Elaine Chao to serve as America's next Secretary of Transportation. "Secretary Chao brings with her a wealth of experience working with and within the U.S. government and on transportation issues, and will undoubtedly be an extremely effective leader of DOT. It is entirely fitting, first and foremost, to appoint a former Deputy Secretary to the highest post in the U...
Marshall Hotels & Resorts Signs Five New-Build Hotels to Construction Pipeline and Adds Two Management Contracts
Marshall Hotels & Resorts, Inc. | January 30, 2017
SALISBURY, Md., January 30, 2017—Marshall Hotels & Resorts, a leading hotel management and services company that operates properties nationwide, today announced that the company has enjoyed a record 2016, signing six new build hotels and a stand-alone spa to its construction pipeline, as well as adding two new management contracts, in the second half of the year alone. The hotels are scheduled to come on-line following construction completion, bringing the company's portfolio to 60 hotel contracts year-to-date. "With eight properties in the pipeline and 14 new third-party hotel management agreements signed in the first half of...
U.S. Travel Association Reacts to Executive Orders
The U.S. Travel Association | January 30, 2017
WASHINGTON (January 28, 2016)—U.S. Travel Association President and CEO Roger Dow issued the following statement on executive orders signed Friday by President Trump: "People all over the world want to visit the U.S., and the U.S. travel and tourism community strongly supports efforts to ensure that visitors to this country are unimpeachably legitimate. In doing so, it is imperative we find the right balance between security and facilitation, and we stand ready to support the administration and Congress to achieve this goal. "We recognize the new administration's desire to review visa issuance protocols with respect ...
In Focus: African Hotel Market Update
Tim P. Smith | January 27, 2017
By Tim P. Smith Introduction Wow, 2016 was quite a year and turned the world on its head; the UK voters opted for Brexit and the US electors chose Donald Trump as their next president. These monumental decisions will have far-reaching ramifications that will impact on us all, including Africa. Sterling has weakened considerably, even against the Rand, despite a lack of positive economic progress in South Africa. We are waiting to see what will happen when Trump takes the keys to the White House in January, but there may be a reduction in aid or trade to Africa. These external factors are out of the control of the hotel market in Afr...
