industry statistics
Hospitality Industry Statistics To Have on Your Radar 2024
EHL | August 28, 2024
The hospitality industry is a vast sector with many different sub-sectors that include recreation, lodging, entertainment, food and beverage which are constantly evolving. Due to the overwhelming amount of data available today, it has become increasingly challenging for industry players to gather all the necessary hospitality statistics to keep up with the latest trends. As a result, staying informed and up-to-date has become an impossible task. Despite being an exhilarating career path with many avenues that demand a diverse skill set, the hospitality industry is currently struggling to fill open positions. This is partly due to the chan...
The 33 Definitive Hospitality Industry Statistics You Need to Know For 2023
Brett Thoreson | November 22, 2022
By Brett Thoreson As of today, we are only weeks away from 2023. It’s almost hard to believe after the trials and tribulations that largely defined 2020, 2021, and the beginning of 2022. In some ways, the last two and a half years were a whirlwind, but, at the same time, the world came to what could be best described as a prolonged, collective standstill. For industries like hospitality, that standstill was especially pronounced – as an industry that exists to provide an in-person experience to global travelers, the COVID-19 pandemic proved to be one of our greatest obstacles. Our proverbial liferaft during this time was the promise of...
Hospitality Industry Statistics to Have on Your Radar in 2022
EHL Insights | August 18, 2022
The hospitality industry is a vast sector with many different categories that include recreation, lodging, entertainment, food and beverage. As a result, it is essential to collect all the relevant hospitality industry statistics to fine-tune your digital and social strategies to match the rapid changes currently impacting the sector. This is especially important for hospitality because it was one of the hardest-hit industries by COVID-19, and its challenges are still ongoing. Now that things are almost back to normal, the hospitality industry not only has to deal with changing consumer preferences and expectations but also deal withÂ...
HVS Industry Statistics Update – Q4 2019
Jerod S. Byrd | January 3, 2020
By Jerod Byrd Occupancy levels across the U.S. remained generally stable through October 2019, while ADR registered a marginal increase of less than 1%. Research suggests that RevPAR will end 2019 below the 1% mark; this represents a further year-over-year deceleration in RevPAR, which has been the general trend since 2015. The continued entrance of new supply and the slowdown in job growth are the primary factors contributing to the recent trend. Supply is anticipated to continue to increase by nearly 2% in 2020, which will likely outpace demand growth. While RevPAR is projected to remain positive in 2020, the decelerating growth trend is...
HVS Industry Statistics Update – Q3 2019
Jerod Byrd | August 27, 2019
By Jerod Byrd RevPAR across the U.S. strengthened 1.2% through the first half of 2019, and STR is projecting the calendar year to end at roughly 2.0%. Profit margins should remain generally stable in light of an increase in operating expenses, particularly attributed to rising labor costs in connection with low unemployment levels. RevPAR growth through the near- to mid-term is expected to come in the form of ADR growth, with occupancy remaining generally stable. As illustrated, while RevPAR is down slightly across the top 25 markets, all other markets are averaging 2.3% growth, which is moderately above the current inflationary rate of ro...
