group demand
SalesAndCatering.com and LodgIQ™ Announce Partnership To Deliver Market-Leading AI Revenue Management for Group Sales
SalesAndCatering.com | June 18, 2024
Seamless integration delivers powerful group commercial optimization capabilities, empowering hotels to make data-driven decisions that accelerate revenue growth and sales performance. Charleston, SC—(June 18, 2024) –SalesAndCatering.com and LodgIQ™ today announced a new strategic partnership to integrate LodgIQ's revolutionary artificial intelligence (AI) revenue management technology into SalesAndCatering’s award-winning group and event management platform, STS Cloud. Effective group revenue management is critical for hotels seeking to maximize revenue and profitability in today’s competitive marketplace. Both companies will wo...
U.S. Hotel Profitability Reflects Gains in Corporate Demand and Groups
CoStar Group | November 8, 2023
WASHINGTON – 8 November 2023 – A recent increase in U.S. hotel labor costs reflects a normalizing business mix and significant gains in group demand, according to September year-to-date P&L data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. September 2023 YTD per-available-room metrics (% change from September 2022 YTD) GOPPAR: US$75.74 (+6.2%) TRevPAR: US$208.34 (+8.6%) EBITDA PAR: US$52.95 (+5.1%) LPAR (Labor Costs): US$69.36 (+13.1%) “September labor costs were higher than the summer months even though overall dema...
Industry Sentiment Remains Hopeful for ADR and Group Demand, Recession Fears Grow
CoStar Group | September 25, 2023
In early Q3 2023, STR completed the third edition of the Hospitality Industry Sentiment (HIS) survey, a quarterly survey of travel industry professionals. Between the first and second waves of this survey, we saw some subtle shifts in experts’ expectations for industry performance. Leisure demand was tapering off, but group demand and major events were on the rise. Now with the third wave of the survey on the books, some patterns have become further established, and some new trends emerge as well. Average daily rate (ADR) expectations across the globe remain positive, while optimism for occupancy growth has slipped into the...
The “Great Return” Is in Motion; Workers, Students, Companies and Travelers Re-Embrace the City Center
JLL | May 12, 2022
Office occupancy and urban hotel demand are both steadily increasing CHICAGO, May 12, 2022 – While at-home work and a shift away from city centers was widely embraced during the throes of the pandemic, recent data points suggest the “Great Return” is in motion. City centers have historically served as the cultural and commercial heart of cities and as William Shakespeare once said, “What is the city but the people?” This statement resonates now more than ever as cities are being reawakened and re-embraced by the workers, students and companies that call them home. As of April, many big tech and financial corporations have called ...
Attendance and Expenditures Now Lead Recovery Of Group Demand
Robert Mandelbaum and Gary McDade | March 17, 2015
By Robert Mandelbaum and Gary McDade Group demand continued to grow in 2014, and 2015 will be another strong year. For a fourth straight year, PKF Hospitality Research (PKF-HR), a CBRE Company, has observed an increase in the number of events organized by meeting planners in 2014. Not only did a greater percentage of meeting planners report an increase in the number of events planned from 2013 to 2014, but a growing number of event organizers noted increased attendance at each meeting as well. According to the planners surveyed, growth in both the number of meetings and attendance should continue in 2015. Each year, PKF-HR asks meeting ...
