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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 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...
Attendance and Expenditures Now Lead Recovery Of Group Demand
Robert Mandelbaum and Gary McDade | March 17, 2015
By Robert Mandelbaum and Gary McDade Group demand continued to grow in 2014, and 2015 will be another strong year. For a fourth straight year, PKF Hospitality Research (PKF-HR), a CBRE Company, has observed an increase in the number of events organized by meeting planners in 2014. Not only did a greater percentage of meeting planners report an increase in the number of events planned from 2013 to 2014, but a growing number of event organizers noted increased attendance at each meeting as well. According to the planners surveyed, growth in both the number of meetings and attendance should continue in 2015. Each year, PKF-HR asks meeting ...
Hotel Occupancy to Hit Record High in 2015
PKF Consulting, USA | March 16, 2015
PKF-HR Forecasts A Shift In the Drivers Of RevPAR Growth March 16, 2015, Atlanta, Ga. - The U.S. lodging industry will continue to achieve very strong growth in rooms revenue per available room (RevPAR) during both 2015 and 2016 according to the recently released March 2015 edition of PKF Hospitality Research's (PKF-HR) Hotel Horizons® (PKF-HR is a CBRE company). The report further predicts that the composition of the factors driving the RevPAR is starting to shift with record-setting occupancy yielding ground to growing average daily rates (ADR). "In 2015, RevPAR growth will be achieved by healthy increases in both occupancy and ADR, ...
Even Lenders Are Happy: Interest Expense Coverage Continues to Improve
Robert Mandelbaum | March 2, 2015
By Robert Mandelbaum Much has been written about how U.S. hotel owners and operators are profiting from the current strong lodging market conditions. Revenues have returned to pre-recession levels and are expected to experience real growth through 2017. On the bottom-line, net operating income (NOI) is in the fourth of a six year period of double-digit growth. Also benefitting from the strong market fundamentals are the institutions that have loaned money to today's hotel owners. Since 2009, the combination of rising profits and declining interest payments has led to a reduction in the number of hotels in default, and a rise in debt cov...
In Hotels, Health Equals Wealth
the authors | February 19, 2015
By Andrea Foster and Jenna Finkelstein Business is back for hotels across the United States with occupancy levels surpassing long-run averages and hotels raising room rates more aggressively. According to PKF Hospitality Research (PKF-HR)'s forecast, occupancy is estimated to be above the long-run average in 49 of the 55 U.S. markets they track, 14 of which are achieving their highest occupancy levels in the past 25 years. By 2015, the U.S. lodging industry will experience six consecutive years of increasing occupancy, the most since 1988. The hotel industry has finally climbed out of the recovery period following the Great Recession as...
Lodging Insights: U.S. Lodging Industry Forecast for 2015 and How the Outlook Differs by Chain Scale
PKF Hospitality Research | December 23, 2014
Mark Woodworth and Jack Corgel discuss the U.S. lodging industry forecast for 2015 and how the outlook differs by chain scale. Mark also gets Jack's opinion on how low oil prices might impact the industry. ...
Protracted Prosperity: Profits and Resulting Values Expected to Increase
the Authors | December 17, 2014
by Scott Smith, MAI, and Gary McDade U.S. hotels have realized significant increases in occupancy, average daily rate (ADR), and top-line revenue over the past five years. Because of an improving economy, increased levels of international travel, a recovery in the total number of people working and limited supply growth in the majority of U.S. markets, PKF Hospitality Research (PKF-HR), a CBRE company, is forecasting a protracted period of prosperity for the U.S. lodging industry. Based on the September-November 2014 edition of PKF-HR's Hotel Horizons® forecast report, hoteliers will enjoy well-above average levels of revenue growth th...
