forecast
Annual Hotel Occupancy Forecast to Decline 29% Over the Next 12 Months With $75 Billion in Projected Revenue Losses
Horwath HTL | August 17, 2020
Magid HTL Forecast Tracker, analyzed in conjunction with Horwath HTL, says COVID-driven declines span both business and leisure travel intentions MINNEAPOLIS, August 17, 2020 – The ongoing impact of the COVID-19 pandemic will lead to a 29% decline in annual hotel occupancy over the next 12 months, resulting in a projected revenue loss for the industry of about $75 Billion in room revenue alone. The estimate is according to the Magid HTL Forecast Tracker, analyzed in conjunction with Horwath HTL, the world’s oldest, largest, and most experienced hotel, tourism, and leisure-consulting brand. The forecast shows declines being driven...
Boston’s Lodging Supply Growth Outpaces Demand, Resulting in Lowered Projected Performance
Pinnacle Advisory Group | September 23, 2016
September 23, 2016 While demand year-to-date through August is up a strong 4.1% in the Boston/Cambridge lodging market, it has not been enough to compensate for the growth in supply which has grown 4.7%. Driving the supply growth, the aloft and element hotels opened in the Seaport, the Godfrey Hotel opened in Downtown Crossing, and the Hotel Commonwealth completed its expansion, all of which took place in the Q1 2015, the market's slowest months. On the demand side of the equation, the local lodging market experienced an increase in demand every month of the year, although the pace of demand was somewhat volatile. Specifically, the mont...
