pfk hospitality research
PKF Hospitality Research Extends Record U.S. Occupancy Forecast Through 2017
PKF Hospitality Research, a CBRE Company | December 9, 2015
West Coast Markets Lead the Way December 9, 2015, Atlanta, Ga. – U.S. hotel occupancy will remain at record levels through 2017 according to PKF Hospitality Research | CBRE Hotels (PKF-HR). In the recently released December 2015 edition of Hotel Horizons®, PKF-HR forecasts that the growth in demand for lodging accommodations will exceed the change in supply during each of the next two years. The result will be a national occupancy rate of roughly 66 percent in both 2016 and 2017. "The fundamental characteristics of the economy remain relatively unchanged, as the labor market continues to improve and GDP growth remains steady i...
Hotel Spa Departments Generate Healthy Profits
PKF Consulting|CBRE Hotels | October 22, 2015
Benefits Extend Beyond the Spa Department October 22, 2015, Boston, Ma. – Hotel spa departments continue to contribute to the revenue and profit growth of U.S. hotels. According to the 2015 edition of Trends® in the Hotel Spa Industry, hotel spa department revenues increased by 5.1 percent in 2014, while spa department profits grew 10.5 percent. "The benefit of having a hotel spa can go beyond the direct financial contributions of the spa department," said Andrea Foster, managing director for PKF Consulting|CBRE Hotels (PKFC) and director of the firm's spa and wellness consulting practice. "When we compared the performance of ...
Budget Accuracy Benefits All
the Authors and PKF-HR | October 20, 2015
by Robert Mandelbaum and Viet Vo Since 2001, PKF Hospitality Research, a CBRE Company (PKF-HR), has assessed the accuracy of hotel budgets. Over the past 14 years, one trend has become very predictable. During times of industry prosperity, hotel budgets are extremely accurate. During the depths of the 2001 and 2009 industry recessions, hotel managers underestimated their revenue levels by an average of 10.4 percent, while the profit deficits averaged 23.4 percent. Conversely, when the industry has been in periods of growth, the budget variance for revenues has been a positive 0.6 percent on average, while profit goals were exceeded by 1...
Caribbean Hotels Enjoy Fourth Consecutive Year of Double-Digit NOI Growth
PKF Hospitality Research, a CBRE Company | September 8, 2015
September 8, 2015, Atlanta, Ga. – Caribbean hotels are enjoying their continued run of double-digit net operating income (NOI) growth according to the newly released 2015 edition of Trends® in the Caribbean Hotel Industry by PKF Consulting (PKFC), a CBRE Company. According to the report, the average Caribbean hotel experienced a 17.3 percent increase in NOI during 2014, marking the fourth consecutive year that Caribbean hotels have seen a double-digit increase in NOI. Revenues and Expense The Caribbean hotel industry is made up of a large number of unique resort properties in various destinations which provides the opportunity to gen...
PKF Hospitality Research Not Concerned About the Current Tumultuous Stock Market
PKF Hospitality Research, a CBRE Company | September 1, 2015
Hotel RevPAR Growth Expected to Remain Above Long-Run Average Through 2018 September 1, 2015, Atlanta, Ga. – Recent gyrations on Wall Street may have hoteliers questioning whether this is the beginning of the end to the good times that have characterized the U.S. hotel industry for the past five years. PKF Hospitality Research (PKF-HR), a CBRE Company, does not believe so and is reaffirming its near-to-mid-term forecast for strong lodging financial performance. According to PKF-HR's recently released September 2015 edition of Hotel Horizons®, U.S. hotels will continue to enjoy above long-run average revenue per available room (RevPAR...
PKF Hospitality Research Forecast Accuracy Remains High
PKF Hospitality Research, a CBRE Company | August 12, 2015
August 12, 2015, Atlanta, Ga. – PKF Hospitality Research (PKF-HR), a CBRE Company released the results of their latest assessment of the accuracy of their Hotel Horizons® forecasts for the U.S. lodging industry. This is the fourth periodic review conducted by PKF-HR since 2005 and is an important and critical component of the firm's forecasting efforts. "Once again we are pleased to report that the accuracy of our forecasts remains high," said R. Mark Woodworth, senior managing director of PKF-HR. "Accuracy on the national level continues to far exceed generally accepted benchmarks. At the local level, accuracy is strong for the most...
