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Hotel Spas Fill In Revenue Void During Recession

As of year-end 2022, the average hotel in CBRE’s Trends® in the Hotel Industry survey sample had surpassed its 2018 total revenue figure by 1.5%. This was achieved even though the average hotel had rented 8.2% fewer room nights in 2022 than it did i...

Robert Mandelbaum

Robert Mandelbaum

Director of Research Information Services at CBRE Hotels

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Wellness and well-being

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Finance & Accounting

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Markets & Performance

CBRE Hotels

Hotel Property Tax Relief Varies By Geography

Based on a sample of more than 3,000 hotels from CBRE’s Trends® in the Hotel Industry database, U.S. hotel property tax expenditures averaged $2,626 per available room (PAR) in 2022. This is 10.8% less than the $2,943 PAR recorded in 2019, before th...

Robert Mandelbaum

Robert Mandelbaum

Director of Research Information Services at CBRE Hotels

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Finance & Accounting

CBRE Hotels

2023 HVS Lodging Tax Report - USA

Since room sales generate lodging tax revenues, an overview of hotel market trends provides a perspective on the industry’s current and future fiscal impacts. While the negative impacts of the COVID-19 pandemic were unprecedented, as documented in o...

Thomas A. Hazinski

Thomas A. Hazinski

Managing Director of HVS Convention, Sports, & Entertainment Facilities Consulting in Chicago

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Finance & Accounting

HVS

Navigating the 2024 Budget Season: Tech-Driven Strategies for Modern Hospitality

Navigating the 2024 Budget Season: Tech-Driven Strategies for Modern Hospitality

As the hotel industry prepares for its annual budget planning for 2024, we’re at a critical moment where technology and financial strategy blend together. This goes beyond simply setting aside funds for new digital tools; it’s about fully integratin...

Marcy Albert

VP of Sales at OpenKey

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Information Technology

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Finance & Accounting

Navigating the 2024 Budget Season: Tech-Driven Strategies for Modern Hospitality

As Occupancy Stalls, Parking Drives Hotel Revenue Growth

Based on our February 2023 Hotel Horizons® report, CBRE is forecasting that total hotel revenue for the average U.S. hotel returned to pre-COVID levels in 2022. This occurred despite the fact that the average occupancy for U.S. hotels is not expecte...

Robert Mandelbaum

Robert Mandelbaum

Director of Research Information Services at CBRE Hotels

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Finance & Accounting

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Markets & Performance

CBRE Hotels

U.S. Hotel Owners Eyeing Interest Coverage

According to CBRE’s February 2023 Investment Performance forecast, total revenues for the average U.S. hotel returned to 2019 levels in 2022, but the recovery of hotel profits will be delayed until later this year. Hotel franchise and management com...

Robert Mandelbaum

Robert Mandelbaum

Director of Research Information Services at CBRE Hotels

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Real Estate & Investment

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Finance & Accounting

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Markets & Performance

CBRE Hotels

Impact of Recent Interest Rate Increases on Commercial Real Estate Transactions and Pricing

The COVID-19 pandemic has had a profound effect on the global economy, leading to widespread inflationary pressures. Governments around the world responded with unprecedented levels of fiscal and monetary support to stimulate their economies, the im...

Luigi Major

Vice President, Houston at HVS

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HVS

Stay Innovative with Automated Hotel Processes

Automation in the hospitality industry continues to evolve and represents innovation at its finest. Automated processes promote hoteliers to build financial and operational success within hotels that are necessary to remain competitive in the market...

Shane Middleton

Shane Middleton

Strategic Partnership Manager

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Management Companies

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Finance & Accounting

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Asset Management

E-Payments: Understanding the Last Mile of the Automation Process

E-Payments: Understanding the Last Mile of the Automation Process

Over the past few decades, we have seen constant advancements in automation technology, particularly when it comes to the hospitality procurement process. Procedures like sourcing, tendering, auctioning, and ordering products have all been adopted i...

Resigned Author

Resigned Author

BirchStreet Systems

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Lodging Industry

E-Payments: Understanding the Last Mile of the Automation Process

Podcast interview with expert Kris Herrin reveals the surprising payments risks companies face today and the benefits of cloud-based procure-to-pay solutions

Podcast interview with expert Kris Herrin reveals the surprising payments risks companies face today and the benefits of cloud-based procure-to-pay solutions

A recent Gartner report claims that by 2025, quite 50% of organizations around the world will have a cloud-based procure-to-pay suite. Tools like BirchStreet Pay are gaining traction as hotels learn more about the advantages and cost opportunities o...

BirchStreet Systems

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Lodging Industry

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Market Segments

Podcast interview with expert Kris Herrin reveals the surprising payments risks companies face today and the benefits of cloud-based procure-to-pay solutions