lodging forecast
Boston/Cambridge Lodging Market – Outlook Is for Positive Growth for 2024
Rachel J. Roginsky | November 15, 2023
By Rachel Roginsky After spending the last 32 years tracking and analyzing the Boston/Cambridge (“the City”) lodging market, Pinnacle Advisory Group (“Pinnacle”) is quite comfortable forecasting top line (occupancy and ADR) revenue for the City. But projecting the future with precision can be complicated. Here’s our perspective on the City’s lodging market for 2024: • Convention and Group Demand – This segment of demand comprises approximately 23% of total demand in the City. According to Signature Boston, the Boston Convention and Exhibition Center will generate approximately 500,000 room nights in 2024, which will be a...
HVS Outlook 2023: Beyond the Recovery
Anne R. Lloyd-Jones | January 23, 2023
By Anne R. Lloyd-Jones, McKenna Luke Despite persistent high inflation, an active Fed, and accelerating recessionary concerns, the lodging industry sustained the strong growth recorded in Q2 and Q3 of 2022 through the balance of the year. Transient demand continued to lead the recovery, surpassing 2019 levels in 19 of the past 21 months. The leisure segment remains a dominant influence, with business demand returning at a slower pace, although increasing levels of “bleisure” demand are blurring the distinction between these two sectors. Group demand rebounded to roughly 80% of 2019 levels; after the initial return of small to medium-si...
Lodging Forecast 2019: Industry Threats Yet Growth
Robert A. Rauch, CHA | January 3, 2019
By Robert A. Rauch Reading forecast content from the plethora of prognosticators out there can drive one into craziness. Clearly, the current economy has strengths like consumer confidence, employment levels, low oil/gas prices, and purchasing managers sentiments as expressed by the Institute of Supply Management (ISM). Gross Domestic Product (GDP) has been growing at a strong 3 percent +/- rate and most pundits expect a 2-3 percent increase in revenue per available room (RevPAR), largely attributed to average daily rates (ADR). But there are warning signs—trade, interest rates, stock market turbulence, cost increases, new supply ...
Hotel Industry – Q4 2018 and Beyond
Robert A. Rauch | October 3, 2018
By Robert A. Rauch Many of us who attended The Lodging Conference this past month heard Bernard Baumohl, Chief Economist for the Conference Board, provide his economic forecast. He covered topics in his usual fast, effective and entertaining style. Some interesting takeaways were that business spending is not up much, oil is going to see oversupply and is up markedly due to politics (not the market), and GDP will be up 3 percent this year, 2.2 percent next year and 1.4 percent in 2020, according to the Consensus Forecast. Baumohl's concerns include President Trump, cyber warfare, geopolitical threats and a real need for corporate agilit...
Lodging Forecast 2016 by Bob Rauch
Bob Rauch | October 5, 2015
For the past several years we have put out our forecast for 2016 at the beginning of Q4 as we've had time to analyze the data and hear from industry experts at The Lodging Conference. This year's conference is this week and while there will be a lot of valuable data, 2015 was such a strong year that the indicators for 2016 give us enough confidence to already forecast for next year. Rest assured, I'll pepper my future articles with the insights gleaned from The Lodging Conference, one of our industry's most useful and successful events I might add, but waiting will only delay your planning for a successful 2016. According to UBS, a stro...
