lodging outlook
Recent Lodging Trends and Outlook for Chicago, Illinois
Amy Schmidt | April 5, 2023
By Amy Schmidt, Brian Arevalo Despite the COVID-19 pandemic, readers of Condé Nast Traveler magazine have voted Chicago as the best big city in the U.S. for the last six years. Chicago’s numerous attractions include unique dining experiences, modern hotels, diverse neighborhoods, and an abundance of arts and entertainment venues. The market also benefits from its proximity to other major markets and its popularity as a meeting and group destination. Data for the Downtown Chicago market is outlined below, illustrating a strongly rebounding economy as of year-end 2022. Data for Chicago as of December 2022 Sources: Choose Ch...
HVS Market Pulse – Recent Lodging Trends and Outlook for Atlanta, Georgia
Brett Testa | January 3, 2023
By Brett Testa Pre-Pandemic Atlanta’s rise in reputation as the event and convention hub of the southeast, a vision first ignited by the hosting of the 1996 Olympics, reached a zenith in 2019 with the hosting of Super Bowl LIII, marking Atlanta’s second time hosting the Super Bowl in the last 20 years. The data below, provided by the Atlanta Convention & Visitors Bureau, illustrate the steady growth in visitors to the city and their spending in the years preceding the COVID-19 pandemic. The August 2017 opening of the Mercedes-Benz Stadium, which hosts games for both the Atlanta Falcons football team and the Atlanta Unite...
CBRE Updates U.S. Lodging Forecast to Further Account for Delta Variant’s Impacts
CBRE Group, Inc. | October 12, 2021
Dallas, TX – October 12, 2021 – The COVID-19 Delta variant’s emergence and spread has hampered plans for group and business travel this fall and winter, spurring CBRE Hotels Research to temper its expectations in September 2021 for Q4 2021 U.S. lodging performance on a national basis. CBRE’s tempered outlook extends into 2022, given the likelihood that corporate travel budgets will remain constrained next year. Earlier this year, the lodging outlook had been brighter due to strong leisure demand boosting summer occupancy levels beyond expectations at U.S. hotels. But the emergence of the Delta variant sapped momentum from more lucrat...
Significant Spike in Daily COVID-19 Cases Expected to Prolong Recovery of the US Lodging Industry
PwC US | December 1, 2020
US Hospitality Directions: November 2020 Continued political uncertainty leading up to the presidential inauguration, the speed of the business traveler's return after a vaccine, and the length and severity of a resurgence of the virus in Q4 and into 2021 are impacting lodging's recovery in the US. In our May edition, we had assumed the then consensus view that the daily number of new COVID-19 cases in the US peaked in late April. We now know this did not occur, and that the current daily number is over four times that level. This has significantly impacted the recovery timeline. We currently expect annual occupancy for US hotels this year t...
