lodging performance
CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16, 2024
Dallas – May 16, 2024 – CBRE expects revenue per available room (RevPAR) growth to improve in the second half of 2024, following a weaker-than-expected first quarter. CBRE’s latest forecast projects a 2.0% increase in RevPAR growth for 2024, down from the 3.0% estimated in February 2024. RevPAR is now expected to grow by 3% for the remainder of the year, driven by international tourists, holiday travel and limited supply growth. CBRE forecasts GDP growth of 2.3% and average inflation of 3.2% in 2024. The performance of the lodging industry is closely tied to the strength of the economy, as there is typically a strong correlation be...
Slow but Steady Recovery for the Silicon Valley Lodging Market
John Berean | August 21, 2023
Trends in Remote Work and Layoffs Since the onset of the COVID-19 pandemic, Silicon Valley has experienced drastic changes including the shift to remote work policies, the exodus of several major companies, and the widespread layoffs in Q4 2022 and Q1 2023. The table below summarizes recent layoffs and remote work policies at major companies in Silicon Valley. Recent Layoffs and Remote Work Policies Source: TechCrunch On top of the shift in workforce policies, a number of major companies have relocated out of Silicon Valley in recent years. Oracle (NYSE: ORCL) announced in December 2020 that it will move its headquarters from...
Eagle Ford Shale: Recent Upticks in Production and Lodging Performance
David R. Bone | July 19, 2023
By David R. Bone The Eagle Ford Shale market has faced rising costs, a frenzy of mergers and acquisitions, and recessionary concerns since late 2022. Nevertheless, drilling activity within the area has become profitable again for most oil and gas operators and lodging properties that house oilfield workers. The number of drilling permits issued for the Eagle Ford Shale between 2017 and 2019 averaged approximately 2,150 per year. Following the effects of the COVID-19 pandemic, this number plummeted to under 1,000 by year-end 2020. Similar trends were noted at hotels within the Eagle Ford Shale, with RevPAR registering significant decli...
Hotel Industry Update – Latest Presentations Now Available at HotelLawyer.com
Jim Butler | May 8, 2023
By Jim Butler The 30th edition of Meet the Money® 2023 national hotel finance and investment conference was held May 1 – 3, 2023 at the Hyatt Regency LAX. Some very insightful and informative presentations were made at the conference about the national economy, the national and California hotel markets, the latest version of the ISHC’s CapEx study, the Lodging Industry Investment Council’s Top 10, and three different views of the lodging industry’s performance and prospects. To download these free presentations, please go to www.hotellawyer.com, click on the RESOURCE tab of the website, and then scroll down and select “Hotel Ind...
Bad vs Horrible – Depends on How Performance Is Measured
Allison Fogarty | November 2, 2020
The importance of considering Total Rooms Inventory (TRI) in measuring Lodging Industry performance. By Allison Fogarty Through the pandemic, hotel Occupancy rates have hit historic lows throughout the country. We have constantly been asked “how bad is it?” Reports early in the pandemic, while awful, seemed to actually understate the catastrophic effect of the pandemic on the hospitality industry. We studied figures provided by STR and other industry analysts and questioned their representatives to fully understand reporting methodologies in an effort to truly understand the current situation in the lodging industry. Unfortunat...
Avison Young Announces Weekly Open Forum
Avison Young | October 14, 2020
ATLANTA – October 14, 2020 – Avison Young Hospitality Group announces the firm launched a weekly virtual forum for every Monday at 2pm eastern starting with next Monday, October 19th. The forum will start with a very short overview of the previous week lodging performance at the property level as well as at the publicly traded level. The main focus of the 45-minute virtual forum is to answer live questions from the participants. Keith Thompson said, “This forum is for private and public hotel investors, owners, operators who needs clear answers and sound advice. The hotel investment world has changed since COVID and we want to be a r...
