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
Seoul Remains Top City for Hotel Construction Pipeline in Asia Pacific with 159 Projects
Lodging Econometrics | December 13, 2016
December 13, 2016 – PORTSMOUTH, NH Lodging Econometrics (LE) reports that, excluding China, the top four cities in the Asia Pacific region with the largest hotel construction pipelines by rooms are: Seoul with 159 Projects/31,233 Rooms, Jakarta with 118 Projects/20,885 Rooms, Kuala Lumpur with 47 Projects/11,484 Rooms and Tokyo with 49 Projects/10,941 Rooms. Seoul is the only one of these markets to increase Year-Over-Year with 22 projects added, up 16%. Excluding China, the leading franchise companies in Asia's Hotel Construction Pipeline are: Marriott International, after the Starwood merger, with 236 Projects/54,328 Rooms, Inte...
CBRE’s Lodging Insights December 2016 Video
CBRE | December 12, 2016
Mark Woodworth and Jack Corgel discuss our latest lodging industry forecasts and where opportunities and risks exist in 2017. ...
Zika Transmission Zone Lifted in Florida by Governor Rick Scott
The U.S. Travel Association | December 12, 2016
WASHINGTON (December 12, 2016)—U.S. Travel Association President and CEO Roger Dow issued the following statement in response to Florida Gov. Rick Scott's announcement that the final active-zone status for Zika transmission will be lifted: "This is the update we've been awaiting for some time, one that reflects the dedicated, hard work Florida state officials have done to contain Zika. I commend Governor Scott and the Florida Department of Health for their attention to this issue, and for all of their initiatives to educate the public, spray for mosquitoes, and ensure citizens and travelers alike were protected. "...
Africa Opens Arms to Global Hotel Brands… and Tourism
Tim Smith | December 9, 2016
By Tim Smith The 'Africa rising' narrative might have become more complex recently, and taken a few knocks, but there's no doubt the continent is open for business where hotel development and tourism is concerned, writes Tim Smith. The strengthening of the rand against the pound and the dollar is unlikely to deter visitors to South Africa. Initial concerns that Brexit would stop Europeans from making long-haul trips have proved incorrect. That all 10 of the leading markets for tourists to South Africa have shown substantial increases in the number of visitors, according to Stats SA's latest Tourism and Migration report, is good news. It...
HVS Key Takeaways: CHICOS 2016
Kristin Rinaudo | December 6, 2016
By Kristin Rinaudo , Parris Jordan HVS recently held its 6th annual Caribbean Hotel Investment Conference and Operating Summit (CHICOS) at the Ritz-Carlton in San Juan, Puerto Rico. Hotel developers, investors, operators, lenders, brand representatives, and government leaders came armed with questions and information on the prospects for the region's hotel industry. Here are some key takeaways. While the Zika virus has affected the region's hotel performance in 2016, it appears that the worst is behind us. Media coverage and perceptions of the mosquito-borne Zika virus have negatively affected the Caribbean hotel market in 2016, causing...
Los Angeles Has More Pipeline Rooms in Early Planning Than Any Other Market
Lodging Econometrics | December 6, 2016
December 6, 2016 – PORTSMOUTH, NH – According to the recent Construction Pipeline Trend Report from Lodging Econometrics (LE), Los Angeles has 18,229 Rooms/108 Projects in the Total Pipeline. Early Planning currently stands at 6,382 Rooms/37 Projects. It is the highest room-count for this stage in any market. Developers have yet to make a branding decision for 4,800 Rooms/23 Projects in Early Planning, representing significant opportunity for franchise companies and their brands. Additionally, there are 5,975 Rooms/29 Projects Under Construction and 5,872 Rooms/42 projects Scheduled to Start Construction in the Next 12 Month...
Growth in Domestic Leisure Travel Offset by Slowdown in International and Domestic Business Travel
U.S. Travel Association | December 6, 2016
Domestic leisure to sustain travel growth in coming months; All other sectors expected to slow further into early 2017 WASHINGTON (December 6, 2016)—Despite some strength in domestic leisure travel, U.S. travel growth eased overall in October 2016, according to the U.S. Travel Association's Travel Trends Index (TTI), beginning a predicted slowdown into the first months of 2017. Due to a variety of factors, both international inbound travel and domestic business travel demand weakened in October, as projected by previous TTI reports, and will continue to do so in the coming months. After outperforming domestic leisure travel in...
Over Half of Houston’s Pipeline is Scheduled to Start Construction in the Next 12 Months
Lodging Econometrics | December 5, 2016
December 5, 2016 – PORTSMOUTH, NH According to Lodging Econometrics (LE) Houston has 169 Projects/19,885 Rooms in the Total Construction Pipeline. Following New York City, it has the second largest pipeline in the country. Of all markets, Houston has the most projects Scheduled to Start Construction in the Next 12 Months with 87 Projects/9,627 Rooms, over half of its Total Pipeline projects. Houston also has the most projects in Early Planning with 40 Projects/4,252 Rooms. The remaining 42 Projects/6,006 Rooms are presently Under Construction. With its Total Pipeline continuing to grow, Houston is an upward trending market that wi...
Dallas Has Third Largest Construction Pipeline in the Country
Lodging Econometrics | December 5, 2016
Lodging Econometrics (LE) reports that according to its most recent Construction Pipeline Trend Report, Dallas has the third largest pipeline in the country. With 131 Projects/15,819 Rooms in the Total Pipeline, it increased by 25 projects or 24% Year-Over-Year (YOY). There are 51 Projects/6,283 Rooms Under Construction up 22 Projects, or 76% YOY. Those Scheduled to Start Construction in the Next 12 Months are at 57 Projects/7,281 Rooms adding 13 Projects, an increase of 30% YOY. Projects in Early Planning are at 23 Projects/2,255 Rooms, down 10 projects YOY as older projects migrate up the pipeline towards construction. ...
Robert Rauch’s Top 10 Trends in Hospitality for 2017
Robert A. Rauch | December 1, 2016
Just 10 years ago, Facebook morphed into a mainstream business tool, Twitter arrived, the iPhone exploded on the scene and Android phones were born. Today, the pace of change has accelerated dramatically. In his new book, Thank You for Being Late, Thomas Friedman explores this very age of acceleration. Our trends this year do not include every trend, just what we believe are the Top 10. Certainly we could add the Internet of Things (IoT) but we cover some of that in our technology trends below. We could also add the proliferation of brands but that is more of a continuation of the past few years. Feel free to weigh in on social media or...
2017 Hospitality Outlook Is a Mixed Bag: U.S. Occupancy High, But ADR Growth Is Disappointing
CBRE Group, Inc. | November 29, 2016
Atlanta – November 29, 2016 – The 2017 outlook for U.S. hotels offers mixed blessings, with near record occupancy levels projected while average daily room rates (ADR) are expected to continue leveling off. According to the recently released December 2016 Hotel Horizons® forecast report, CBRE Hotels' Americas Research is projecting that the U.S. lodging industry will achieve an annual occupancy rate of 65.3 percent in 2017, just shy of the 65.4 percent all-time record occupancy level expected for 2016. "Conventional wisdom says that at such high occupancy levels, hoteliers should have the leverage to implement strong pri...
CBRE Hotels Arranges $121 Million Sale of Four Seasons and Residences in Vail, CO
CBRE Group, Inc. | November 29, 2016
Vail, Colorado – November 29, 2016 – CBRE Hotels has arranged the sale of the 134-room Four Seasons Resort and Residences in Vail, Colorado for $121 million. Prominently located at 1 Vail Road, the Four Seasons Resort and Residences is the leading lodging product in the center of one of North America's most celebrated ski destinations. The resort offers guests a world-class ski experience through slope-side ski-valet facilities located adjacent to Gondola One in the epicenter of Vail Village. Bernard Van der Lande of CBRE Capital Advisors, along with Mark Darrington and Larry Kaplan of CBRE Hotels, represented Barclays in th...
Fitch Expects 1-2% US Lodging RevPAR Growth in 2017
Fitch Ratings | November 28, 2016
November 28, 2016 - U.S. lodging RevPAR will grow 1-2% in 2017, according to Fitch Ratings' outlook for U.S. lodging & leisure companies. Solid leisure travel and healthy group demand will offset weak corporate transient demand. As a result, Fitch has assigned a Stable Outlook for the sector and its ratings in 2017. Cruise operators should see low- to mid-single digit revenue growth due to stronger bookings and pricing. Meanwhile, online travel agencies (OTAs) have room to run as market share gains and strong leisure demand provide tailwinds. Fitch expects theme park operators to prioritize shareholder friendly activities over d...
Wyndham Hotel Group Strengthens Leadership Team in EMEA with Two New Regional Vice Presidents Appointments
Wyndham Hotel Group | November 23, 2016
LONDON, UK (23 November 2016) –Wyndham Hotel Group, the world's largest hotel company with nearly 8,000 hotels across a portfolio of 16 iconic brands, today announced two new appointments in the Europe, Middle East, Eurasia and Africa (EMEA) leadership team. Patrick Divall has been appointed to the role of Regional Vice President, Western Europe, and Ignace Bauwens to the role of Regional Vice President, Middle East and Africa. Divall joins the company from Starwood Hotels & Resorts, where he was most recently the Regional Director of Finance, Western Europe, and brings more than 30 years' experience in the hospitality industr...
CBRE’s Lodging Insights November 2016 Video
CBRE Hotels | November 23, 2016
Mark Woodworth and Jack Corgel update viewers on the recently updated forecasts from CBRE Hotels' Americas Research and their current thoughts on hot topics in the U.S. lodging industry. ...
Visit California’s Beteta and Hilton Worldwide’s Nassetta Receive Travel Industry’s Highest Honor
U.S. Travel Association | November 21, 2016
Both leaders inducted into the U.S. Travel Hall of Leaders during a dinner celebrating the association's 75th anniversary WASHINGTON (November 21, 2016)—Caroline Beteta, president and CEO of Visit California, and Christopher J. Nassetta, president and CEO of Hilton Worldwide, were inducted Wednesday night into the U.S. Travel Hall of Leaders, at a dinner marking the association's 75th anniversary. Beteta and Nassetta will join 92 previously inducted industry luminaries in the Hall of Leaders, which was established in 1969. U.S. Travel Association President and CEO Roger Dow presents Beteta and Nassetta with the Hall of Le...
Labor Is Laborious
Robert Mandelbaum | November 17, 2016
By Robert Mandelbaum There a lot of "double-edged sword" issues on the minds of hotel operators these days. Hotel occupancy levels are at record levels, but that is attracting the attention of developers and therefore the threat of new competition. Inflation and interest rates have been low for an extended period of time, so it is natural to assume that both will eventually start to trend upward. While revenues and profits continue to grow, so do expenses. Another headline capturing the attention of hotel managers that cuts both ways is the recent uptick in compensation levels. On the one hand, increasing levels of income has a positive...
Slow Growth, Higher Labor Costs to Challenge U.S. Hotel Margins Says Fitch Ratings
Fitch Ratings | November 17, 2016
Fitch Ratings-New York-17 November 2016: Hotel RevPAR will turn negative in the second half of 2017 as weak corporate and decelerating group demand challenge asset owners looking to offset expense growth, Fitch Ratings says. While lodging companies have cited relative leisure strength as an offset to weak corporate transient demand, we believe increasing hotel labor costs will also pressure margins. Hotels generally need 3% or greater RevPAR growth to keep EBITDA margin flat, and 1.5%-2% RevPAR growth to offset 2%-3% expense growth to maintain current EBITDA. This rough analysis assumes a 30% hotel EBITDA margin. Fitch has revised its 2...
Global Business Travel Forecast 2017 Indicates Subdued Growth, with Only Moderate Price Increases Across Air, Hotel and Ground Transportation
American Express Global Business Travel | November 16, 2016
Shifting geopolitical landscape and increased security concerns generate global economic uncertainty. Overcapacity and fierce competition between legacy carriers and low cost carriers will keep airfares limited to only moderate gains for 2017 New York – November 16, 2016 – After an uneven 2016 that saw only limited increases in overall pricing, the business travel outlook for next year looks to be similarly subdued, with flat to moderate rate increases expected globally across air, hotel and ground transportation, according to Global Business Travel Forecast 2017 by American Express Global Business Travel. The continued slow...
India – The HVS 2016 Hotel Development Cost Survey
Rishabh Thapar | November 14, 2016
By Rishabh Thapar and Achin Khanna HVS is pleased to share the analysis and insights of the 2016 Hotel Development Cost Survey – India. The development cost is an important aspect of a hotel project that determines its viability. HVS, over the years, has helped investors estimate the overall cost of developing a hospitality project as part of the multiple feasibility studies we have performed for varied asset types across all positioning. This survey endeavours to enhance the knowledge and understanding of industry stakeholders on the subject based on actual development costs of recently opened hotels in India. The report provides...
Thirteen U.S. Travel Members Appointed to National Advisory Committee on Travel and Tourism Infrastructure
U.S. Travel Association | November 11, 2016
WASHINGTON (November 11, 2016)—U.S. Secretary of Transportation Anthony Foxx has announced the inaugural members of the National Advisory Committee on Travel and Tourism Infrastructure (NACTTI)—and 13 of the 25 appointees are members of the U.S. Travel Association. They include: Rossi Ralenkotter, President and CEO, Las Vegas Convention and Visitors Authority (Chair); Todd Davidson, Chief Executive Officer, Travel Oregon (U.S. Travel's current National Chair); Brad Dean, President and CEO, Visit Myrtle Beach; Camille Ferguson, Executive Director, American Indian Alaska Native Tourism Association; Sean R. Fitzgerald...
Special to Hotel-Online: Takeaway’s from Georgetown University’s Hotel and Lodging Legal Summit on American Hotel Investment in Cuba
Roland Leiser | November 9, 2016
by Roland Leiser A Canadian consultant on Cuba has sought to dispel the notion that investors would encounter official corruption in their negotiations to open hotels. Gregory Biniowsky, an attorney and political science professor at the University of Havana, addressed the 5th annual Georgetown University Hotel and Lodging Legal Summit in Washington, DC Oct. 28. His firm, Gowling WLG, is based in Toronto, but he lives in Havana. "The last thing I want to be is a Cuba cheerleader," but the country is rated "as one of the least corrupt in Latin America" along with Chile, Uruguay and Costa Rica. Cuba's strict code of conduct prohibits an o...
Dow: Travel Industry Looks Forward to Working with Trump Administration
U.S. Travel Association | November 9, 2016
WASHINGTON (November 9, 2016)—The U.S. travel community congratulated President-elect Donald J. Trump after most media outlets called the election in his favor Tuesday night. U.S. Travel Association President and CEO Roger Dow expressed optimism for the industry's ability to work with a Trump administration on infrastructure and other key travel-related issues. "I congratulate President-elect Trump on behalf of the U.S. travel and tourism community, and am confident that he will be a valuable ally in advancing some of our industry's key priorities," said Dow. "Mr. Trump demonstrated throughout his campaign t...
Hostel Market In America: Potential For Growth
Shiv Ariyakula, CFA | November 8, 2016
By Shiv Ariyakula, CFA What is a Hostel? Hostels offer low-priced accommodations with a unique social component. Guests rent a bed rather than a room, sharing the space with up to five other guests. Some hostels include private bathrooms and kitchens in every room, though most hostels have a common bathroom area with no kitchen facilities. More than 4,500 hostels are spread throughout Europe, with the highest concentration in the densely populated destination cities. The first hostel originated in 1912 in Germany, and that country boasts the highest number of hostels today. Success in the European Market Historically, the European hoste...
