hotel demand
Hospitality Asset Managers Association (HAMA) Releases Fall 2024 Conference Industry Outlook Survey Results
HAMA | October 15, 2024
LA JOLLA, Calif., Oct. 15, 2024—The Hospitality Asset Managers Association (“HAMA”) today announced the results of its Fall 2024 Industry Outlook Survey. The semi-annual report conveyed the latest opinions, experiences and predictions of nearly 70 hotel asset managers on topics ranging from budget forecasts to management company outlooks. Conducted in conjunction with HAMA'S 2024 Annual Fall Meeting that was held in La Jolla, Calif., the results were presented to media live with a concluding Q&A session via online conferencing. In total, 65 asset managers, comprising approximately one-third of membership, participated in the...
The Impact of Natural Disasters on Hotel Occupancy in Florida
Allison Fogarty | October 1, 2024
By Allison Fogarty For years, I’ve analyzed sharp fluctuations in hotel occupancy levels across several Florida markets, and one recurring explanation has been “disaster recovery.” In regions prone to hurricanes, fires, and floods, disaster recovery can significantly boost demand for hotels, even as some properties suffer damage or destruction. In the aftermath of Hurricane Helene, it's a timely reminder for lodging developers and analysts that the hospitality industry often experiences contrasting outcomes: while some hotels are devastated, others see a surge in demand. The Aftermath of Hurricane Helene Hurricane Helene touched grou...
Texas Hotel Investment Hotspots: Top Markets To Watch in 2024
Andrew Frosch | August 21, 2024
Texas has continued to grow into a top destination for hotel owners who want to expand their portfolio as a result of its strong economy, consistent population growth, vibrant tourist attractions, and diverse markets. Key cities in Texas include Houston, Dallas-Fort Worth Metroplex, Austin, and San Antonio, while the state’s emerging markets are secondary cities/towns around these cities that are often overlooked by hotel investors. This article examines the top cities within Texas in terms of revenue per available room (RevPAR) and provides expert insight into the most attractive and often overlooked submarkets for prospective hotel inv...
PwC’s US Hospitality Directions – May 2024
PwC Hospitality Directions | May 21, 2024
Economic uncertainty, an upcoming election and geopolitical tensions to likely impact hotel performance through 2025 Growth in leisure demand has moderated for US hotels. Domestic travelers have continued to seek out experiences internationally and inbound international traffic has yet to recover to pre-pandemic levels. An increased appeal of short-term rentals by leisure travelers has contributed to moderating leisure demand for hotels. Individual business travel and group demand have continued to improve but have still not been able to offset the softening of leisure demand. As a result, occupancy levels have declined year-over-year in eac...
Sun, Sand, Sea, and Luxury: The Rebound of Barbados Following COVID-19
Kristina M. D'Amico | May 16, 2024
By Kristina M. D'Amico Barbados is an independent English-speaking Commonwealth country and the easternmost island of the Caribbean. It is one of the most mature tourist destinations in the Caribbean. The island is known for offering some of the most serene beaches in the world, as well as an abundance of dining options, local shopping experiences, outstanding golf courses, and numerous other attractions. According to Barbados Tourism Marketing Inc. (BTMI), approximately 80% of visitors to the island come for vacation or tourism purposes. The following graph shows the historical stopover visitation data for Barbados. Number of Stopove...
Marriott International Supports Increased Leisure Demand in Canada
Marriott International | May 10, 2024
Company focused on lifestyle, upper midscale and extended stay brands, as well as market-specific loyalty offerings Marriott International’s presence in the Canadian market strengthened, as the company celebrated a 36 percent year over year increase in hotel-level leisure revenue in 2023. With 274 hotels currently open and 90 in the pipeline, several factors, including a dedicated focus on lifestyle, upper midscale and extended stay brands; as well as market-specific loyalty program offerings and partnerships, continue to drive the company’s success in Canada. Lifestyle Brands Driving Success In an effort to meet the increased demand...
It’s Still a Seller’s Market, But Don’t Get Greedy
Lynn Zwibak | May 2, 2024
By Lynn Zwibak In response to the post-pandemic demand surge and faced with constricted inventory due to labor shortages, rising supply costs, and other challenges, hoteliers pushed their prices back to pre-pandemic levels in record time. It was understandable that hoteliers would push rates - a hotel's goal is to maximize revenue and profit, and they had a lot of missed opportunities to make up for. People were so happy to be traveling again that they paid. Sources predict that hotels' pricing power will remain strong. However, we don't need a pandemic recovery to fall into the trap of overpricing. Why do we do this? Misjudg...
Resurgence and Strength: Demand and Supply Growth in Wichita
Benjamin Giebler | March 4, 2024
By Benjamin Giebler Given its location and position as the state’s largest city, Wichita serves as the primary economic hub for central Kansas. Wichita, known as the “Air Capital of the World,” is home to several major aircraft-manufacturing facilities and McConnell Air Force Base. The local economy is further supported by major employers in the manufacturing industry and healthcare and education sectors including Koch Industries, Ascension Via Christi St. Francis Hospital, and Wichita State University (WSU). This strong and diverse economy supported stability in the local hotel market’s occupancy and ADR through 2019. CO...
