Investment TrendsItalian hotel transactions exceeded €800 million in H1 2024, involving over 30 properties and nearly 4,500 rooms. This marks a 90% increase compared to H1 2023, positioning Italy as the fourth largest European market by transaction volume for the first half of 2024, behind the United Kingdom, Spain, and France. Hotel investments were primarily driven by domestic and European investors, amounting to 85% of the volumes in H1.
I’ve often wondered how many hotels Dubai, Abu Dhabi or Saudi Arabia can sustain. Despite decades of experience in the hospitality sector, I am not sure. And I can’t be the only one.
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
In Lansing, MI, the city council and planning board are revisiting ordinances for short-term rentals. This work often runs into questions about bed and breakfast accommodations and what defines a bed and breakfast. In small communities, ordinances are frequently outdated or inadequate for future growth or preservation. Lansing is not the only community facing this in the state; cities such as Grand Rapids, Ann Arbor, and Park Township are also facing this. As the state of Michigan has deferred short-term rental (STR) laws to cities and towns, there are no cohesive rulings across the board—something this country is facing as a whole.
Berlin, Germany’s largest city with a population exceeding 3.7 million, is a vibrant hub of culture, innovation and diversity. Renowned for its top universities, dynamic sports events, world-class museums and captivating arts scene, Berlin offers a rich tapestry of experiences. With residents of 190 different nationalities, Berlin embraces inclusivity and creativity, making it a truly cosmopolitan destination.
Transaction volumes in the UK hotel real estate market have significantly increased in the first half of 2024, reaching levels unseen since H1 2015. According to new data from Cushman & Wakefield, this revival saw around £3.9 billion transacted by hotel investors in the first half of the year. Fuelled by several major private equity portfolio deals, half-yearly investment saw a 210% upswing in activity versus the same period in 2023.
With Pittsburgh recently announced as the host city for the 2026 NFL Draft, we take a look at the impact of previous drafts on both the host cities and area hotels.
Despite the Federal Reserve's aggressive monetary policy aimed at controlling persistent inflation, during the first half of 2024, the U.S. economy continued to demonstrate resilience. While strong growth in many subcategories of Gross Domestic Product (GDP) including consumer and government spending, investment, exports, and employment has many optimistic, the economic outlook is tempered by global geopolitical risks including ongoing wars in Europe and the Middle East.
The Shiji Guest Experience Benchmark Report for Q2 2024 offers a comprehensive look into guest satisfaction trends and review dynamics. This report is crucial for hotel operators and technology vendors aiming to enhance their service quality and customer engagement.
A midyear snapshot of performance in the top 65 markets in the US indicates that on a trailing 12-month basis through May, RevPAR is up slightly year over year (due to slight increases in both occupancy and ADR) and this is largely driven by increases in the top three chain scales: luxury, upscale and upper upscale. Interestingly, the remainder of the US markets are slightly down year over year. Most secondary and tertiary markets have a higher concentration of midscale and economy-oriented inventory that caters to a more budget conscious travel; a consumer base that has been disproportionately impacted by the high inflationary environment. The new supply pipeline remains steady but considerably lower than long term historical averages as construction costs, and to a lesser degree interest rates, continue to suppress new construction.
A midyear snapshot of performance in the top 65 markets in the US indicates that on a trailing 12-month basis through May, RevPAR is up slightly year over year (due to slight increases in both occupancy and ADR) and this is largely driven by increases in the top three chain scales: luxury, upscale and upper upscale. Interestingly, the remainder of the US markets are slightly down year over year. Most secondary and tertiary markets have a higher concentration of midscale and economy-oriented inventory that caters to a more budget conscious travel; a consumer base that has been disproportionately impacted by the high inflationary environment. The new supply pipeline remains steady but considerably lower than long term historical averages as construction costs, and to a lesser degree interest rates, continue to suppress new construction.
The Indian Hotels Company Limited (IHCL) has recently been making significant strides in the global hospitality industry. With Brand Finance ranking Taj as the world's strongest hotel brand for the third time recently, and the remarkable growth in the company’s market capitalization, IHCL's ascent into the Top 5 global Hotel Management companies (by market cap) is a testament to its growing global presence and influence. This recognition not only highlights IHCL's success but also places the Indian hospitality market in the global spotlight in line with the country’s ascent among the top 5 global economies.
2024 has been very intense. Throughout my career as a hotelier, I've gone through 9/11, a few wars, a world financial crisis, pandemics, and a tsunami to name but a few significant milestones. And yet, 2024 has been the most intense year for me thus far in the quarter century of hospitality life. So, what is going on?
The Cincinnati lodging market is gearing up for an influx in demand fueled by the renovation of the Duke Energy Convention Center. Moreover, recent success and changes in the city’s diverse sports scene are drawing visitors from near and far.
In the first four months of 2024, full-service branded hotels in Barcelona recorded a healthy performance increase, underpinned by growing tourism demand and the regulation constraining hotel development.
As a border town, Buffalo has historically been heavily reliant on Canadian visitors and U.S. travelers stopping over en route to/from Canada for lodging demand. Based on a recent hotel market study and many hotel appraisals in the greater Buffalo-Niagara area I have performed, it is clear that traffic volume at the land crossings has an impact on these border markets. Below is a brief timeline of the changing restrictions for border crossings from 2020 until 2023.
Prior research conducted by CBRE Hotels Research revealed that hotel management companies were rewarded handsomely as the U.S. lodging industry recovered from the COVID-19 pandemic. An analysis performed by CBRE in April 2023 found that total hotel revenue increased by 153% from 2020 to 2022, while Gross Operating Profits (GOP) grew by 437%. This resulted in a 68% increase in the fees paid to management companies and brought management fees back to pre-pandemic levels. The increases in fees were largely due to the improved performance of U.S. lodging properties, which in turn triggered the payment of incentive management fees.
This article underscores Namibia's potential as a premier tourism destination, driven by its natural beauty, strategic initiatives, and increasing tourism contributions to the economy.
Mixed messages abound these days, comprising some bright spots, some not so bright spots, and some challenges. With no coherent theme, the greatest challenge may be developing a forecast for the industry as a whole. But we are undaunted and herewith present our current expectations for the U.S. lodging industry.
International hotel brands will continue to pour into Spain, according to Global Asset Solution’s Spanish Hotel Market Outlook 2024. The company said that it expected to see budget brands join the swelling numbers of luxury flags as both domestic and international tourism grew.