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Opinion Articles

Opinion Article

Hotel Market Beat 2023 - CEE-6

Increased cost of financing and ongoing economic and geopolitical headwinds in the CEE region, caused 2023 transaction volumes to drop by 18% compared to 2022. However, the volume invested by international buyers increased by 197% over the same period, illustrating the region’s rising attractiveness for inbound capital. Several significant deals are progressing since the year-end 2023 suggesting transaction volumes will rise in 2024.

Lise Keller BA
By Lise Keller BA, Strategic Advisory and Hospitality Research Senior Consultant, Cushman & Wakefield
Opinion Article

Seattle Hotel Market: A Shining Beacon of the Pacific Northwest

A key driver of Seattle’s leisure demand is its cruise industry. In 2023, the number of Alaska cruises reached 291, a record number compared to 213 in 2019. The Port of Seattle estimates the annual impact of a cruise season on the region at $900 million. This demand particularly benefits local hotels, as passengers typically stay overnight in Seattle before and/or after their trip.

Eileen Bosworth
By Eileen Bosworth, Senior Project Manager, Portland, HVS
Seattle, Washington, United States
Opinion Article

Florence Market Pulse

This article examines Florence's tourism industry resilience amidst crises, including the COVID-19 pandemic, analyzing key performance indicators such as airport statistics, hotel supply, and operating performance. Despite setbacks, Florence witnessed a remarkable recovery, notably in 2023, with record-breaking Revenue Per Available Room (RevPAR). The analysis also highlights investment trends and future challenges, including concerns about over-tourism and evolving market dynamics.

Ezio PoinelliLorenzo GullottaGiammarco Pignocchi
By Ezio Poinelli, Lorenzo Gullotta, and Giammarco Pignocchi
Florence, Italy
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Opinion Article

The 2024 Group Business Forecast: Trends to Help Hotels Capitalize on the Back-to-In-Person Boom

Group business is back in a big way. In-person events are returning to their pre-COVID normal pace. In 2024, 81 percent of meetings will have an in-person component in them. A recent study by Deloitte anticipates that by 2024, business travel spending will return to its level before the pandemic. This view is echoed in Accor's data, which shows in their latest survey regarding client business travel that 57 percent of those surveyed anticipate a budget increase for travel in 2024 compared to 2023.

Mike Pavicich
By Mike Pavicich, Director, Global Sales, SalesAndCatering.com, LLC
Barrie, Ontario, Canada
Opinion Article

Boston/Cambridge Lodging Market – 2023 Year End Review

The Boston/Cambridge lodging market ended 2023 at 76.4% occupancy, a 6.8% variance over 2022’s 69.6%. This 6-point increase in occupancy is a result of the market accommodating 8.6% more rooms in 2023 compared to the prior year; 0.6% more rooms occupied as compared to 2019. Seasonality appears to be in sync with what we typically expect for the Boston market. Peak season, May through October, monthly occupancies ranged between 84% and 89%, averaging 86%.

Rachel Roginsky
By Rachel Roginsky, Principal, Pinnacle Advisory Group
Massachusetts, United States
Opinion Article

Brooklyn Continues to Blossom in the Post-Pandemic Period

The Brooklyn hotel industry has been experiencing post-pandemic recovery due in part to strong leisure demand, an increase in meeting and group business, and the gradual return of commercial demand. Additionally, the New York City Department of Homeless Services and related entities have been utilizing many hotels as temporary shelters for homeless residents and migrants/asylum seekers.

Patricia Shih
By Patricia Shih, Director, HVS
Brooklyn, New York, United States
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Opinion Article

Brands and Brand Families Matter: A look back 2013–2022

To help hotel developers and investors with their due-diligence process, CBRE Hotels Research collected more than 20 years, and analyzed ten years, worth of hotel key performance indicators (KPIs) disclosed in the SEC filings of six large public companies: Choice, Hilton, Hyatt, IHG Hotels & Resorts, Marriott and Wyndham. Combined, these companies had more than three million rooms or approximately 60% of total U.S. hotel supply at year-end 2022. Underlying data used to conduct this analysis is available for purchase here.

Rachael RothmanChristine Bang
By Rachael Rothman and Christine Bang
United States