lodging market trends
Top 5 Hotel & Lodging Market Trend Predictions
Sean Skellie | March 1, 2024
By Sean Skellie #1 Stability Travel demand is likely to stabilize in 2024 benchmarking record occupancy and rate. Current trends indicate that the industry is reporting a decline in many markets for leisure travel (Thursday – Saturday as many consumers are getting out priced in the market), while group travel remains strong as Milwaukee will experience in 2024; with a slight increase in corporate bookings (Monday – Wednesday travel). The Industry will see 65+ percent occupancy overall and even higher ADR in 2024. The hospitality industry has been witnessing a resurgence in various segments of travel. Group travel, in particular,...
HVS Market Pulse: Asheville, North Carolina
Janet Snyder | May 20, 2019
By Janet Snyder In 2017, Asheville attracted roughly ten million visitors who spent nearly $2 billion at local businesses, with approximately 40% of travelers requiring overnight accommodations. The city has always been a popular regional destination given its outdoor activities, temperate climate, arts culture, and kitschy downtown. In recent years, it has become better known for its foodie culture, thriving music scene, and offering of microbreweries, with about 50 small and large brewing operations throughout the city. With the city landing on the list of top destinations in numerous publications in recent years, it has become more o...
