hotel inventory
From Paper to Platform: Future-Proof Your Procurement Team With Digital Transformation
Johannes Vocke | May 21, 2024
By Johannes Vocke, FutureLog Chief Financial Officer In an eye-opening survey by PwC, global procurement professionals have spoken when it comes to their digital transformation initiatives. By 2025, procurement departments have an average target of 72% digitalization, with efficiency, transparency, traceability, and cost savings as some of their main drivers. Procure-to-Pay (P2P) has also benefited the most from the digital transformation of any procurement process, ahead of areas like spend analysis and supplier management. This may be because recent reports cite that digital procurement can reduce processing costs by up to 50% and increa...
U.S. Hotel Construction Activity Rose in March, First Increase in Nine Months
CoStar Group | April 16, 2024
WASHINGTON – 16 April 2024 – The volume of U.S. hotel rooms under construction grew year over year for the first time since June 2023, according to CoStar’s March 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. U.S. Hotel Pipeline March 2024 (percentage change from March 2023) In construction: 156,525 rooms (+1.5%) Final Planning: 263,316 rooms (+9.8%) Planning: 324,522 rooms (+39.5%) “While the number of rooms in construction has grown, that figure remains below what was seen prior to the pandemic,” said Isaac Collazo, STR’s VP, a...
Atlanta CBD Hotel Submarket Continuing to Push Forward
Anne Gompel, Adam Zarczynski | November 9, 2023
By Anne Gompel, MAI, CHIA and Adam Zarczynski, CHIA With the busiest airport in the world and a lower cost of doing business than peer regions, Metro Atlanta is the key inland distribution hub of the Southeast. Metro Atlanta is home to 17 Fortune 500 corporations like The Home Depot, Coca-Cola, Delta Air Lines, and UPS. It also sustains a diverse economy centered around technology, healthcare and health tech, logistics, advanced manufacturing, and now electric vehicles and clean tech. For the 10th consecutive year Area Development Magazine has ranked Georgia the number one state for business. Atlanta's strong economy has been spurred by...
Anchorage, Alaska: Hotel Market Trends and Conversions to Housing
Breanna S. Smith | November 6, 2023
By Breanna S. Smith Prior to the pandemic, the Anchorage hospitality market was in a period of expansion. The market was historically reliant on natural resource (oil and gas) extraction. Demand increases in the years prior to 2020 were supported by the market’s popularity as a tourism destination, largely centered around the cruise industry, and growth in the transportation industry. However, similar to trends across the nation, the COVID-19 pandemic resulted in substantial declines within the tourism industry beginning in March 2020. While much of the state’s commercial business remained essential, tourism was substantially affected,...
