Markets & Performance Opinion Articles - Hospitality Net

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Opinion Article

October 11, 2023

Transforming Coachella Valley: Setting the Stage for Success

In 2022, the Coachella Valley experienced a resurgence in tourism, with visitor numbers surpassing pre-pandemic levels and spending reaching new heights. The direct visitor spending of $7.1 billion had a total economic ripple effect of $8.7 billion, showcasing the area's growing appeal. A significant chunk of this spending, more than 30%, was dedicated to lodging, including hotels and short-term rentals. Tourism is expected to remain robust throughout 2023, with major events like the Power Trip music festival in October 2023 poised to attract visitors from across the region.

By Kirsten Smiley and Aidan Martin

Indio, California, United States

Opinion Article

October 9, 2023

Q3 Insights Reveal Holiday Travel Expectations and the Economic Cost of Not Addressing Traveler Pain Points

Each quarter, we continue to dig deeper into the traveler experience and identify barriers and points of friction that keep travelers at home or traveling less frequently based on a quarterly consumer survey with Ipsos.

By Jamie Mageau, Director of Research Products, U.S. Travel Association

Opinion Article

October 4, 2023

Central Oregon: Evolution of Trends Post-Pandemic

Central Oregon is a drive-to destination market situated east of the Cascade Mountain range. Home to twelve cities, this region of Oregon benefits as a popular leisure destination for travelers from throughout the Pacific Northwest. Surrounded by a diverse natural landscape, Central Oregon welcomes nearly four million overnight visitors per year looking to take advantage of all the area has to offer. In recent years, cities throughout the region have seen significant changes in the travel industry as hotels, businesses, and attractions have weathered the impacts of the COVID-19 pandemic.

By Breanna Smith and Hannah Homack

Oregon, United States

Opinion Article

October 2, 2023

Converging Factors: Is a Soft Landing Possible?

As we enter the final quarter of the year, is this recession still happening? And what does this mean for travel?

By Aaron Szyf, Economist, U.S. Travel Association

Opinion Article

September 29, 2023

Albany's Hotel Industry: A Bright Outlook

Albany's hotel industry continues to rebound from the pandemic. This article reviews the performance and recent trends of two distinct Albany submarkets and the market’s extended-stay hotel segment. Through this review, we provide a comprehensive overview of Albany’s performance coming out of the pandemic.

By Robert Fitzpatrick, Assistant Vice President, at HVS New York, HVS

Albany, New York, United States

Opinion Article

September 25, 2023

HVS Monday Musings: Catalysts for Growth – Tech Hubs are Powering the Indian Hotel Industry’s Growth

Tech hubs have globally been a catalyst for the hospitality sector’s expansion. Bengaluru and Hyderabad are prime examples of this trend in India, witnessing unprecedented growth in hotel supply in sync with their booming IT sectors. Read on to know more.

By Mandeep Lamba, Dipti Mohan, and Dhwani Gupta

Opinion Article

September 22, 2023

Bringing New Energy to The Meadowlands in Northern New Jersey

The Meadowlands development in northern New Jersey features the Meadowlands Sports Complex, with the MetLife Stadium as a centerpiece, and hosts numerous major companies. This development is anticipated to strengthen its presence going forward with the addition of a convention center.

By Patricia Shih, Director, HVS

New Jersey, United States

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Opinion Article

September 22, 2023

Tourism in Switzerland: A successful summer 2023 for the Industry

The latest figures released by the Federal Statistical Office (FSO) have put even more spring in Swiss tourism’s step. Night stays in Switzerland for the months of June and July 2023 were recently published. And the news is good! Night stays (or hotel stays) were 8.6% higher in June 2023 versus June 2023. This confirms an earlier report indicating that in the first half of 2023, night stays increased 13.8% year on year.

By Andrew Brenner, Andrew Brenner, Translator and Editor, EHL

Opinion Article

September 20, 2023

The Taylor Swift Impact – 5 Months and $5+ Billion

You’ve likely heard that Taylor Swift recently completed the U.S.-based first leg of her Eras Tour, but have you heard about the impact that tour had on local communities and economies across the United States? We lay it out below.

By Aaron Szyf, Economist, U.S. Travel Association

Opinion Article

September 19, 2023

Phoenix, AZ: A Decade of Investor Confidence Pays Off

Phoenix has exploded in growth over the last decade, developing a diverse and welcoming economy that has allowed the city and surrounding communities to outperform other top-25 markets.

By McKenna Luke, Zabada Abouelhana, and Aleisha Smith

Phoenix, Arizona, United States

Opinion Article

September 18, 2023

HVS Outlook Fall 2023: Discovering a New Normal

A strong RevPAR rebound in the first quarter of 2023 was stalled by increasing costs of capital, inflationary pressures, outflow of domestic demand with limited international infill, and economic concerns. How can hoteliers expect 2023 to end and the next few years to trend? This article presents our latest forecast and insights.

By Anne Lloyd-Jones and McKenna Luke

Opinion Article

September 15, 2023

Navigating Challenges and Opportunities in the Global Hotel Industry: A 2024 Outlook

Hotels across the globe continue to navigate an uneven travel recovery, labor shortages, inflation, and rising mortgage rates - keeping hotel owners and operators on high alert. Budget season has started, and initial budget discussions are conservative, but still showing some overall revenue growth.

By Andrea Grigg, Senior Managing Director and Head of Global Hotel Asset Management, CBRE Hotels

Opinion Article

September 15, 2023

Richmond, Virginia’s RevPAR Rebound and Diverse Lodging Demand

In the past three years, the city of Richmond has seen significant growth in RevPAR, outpacing the regional area and the state of Virginia in the post-pandemic recovery period. This article provides an overview of Richmond’s hotel performance and demand sources.

By Chelsey Leffet, Managing Director, Northeast Leader, HVS

Richmond, Virginia, United States

Opinion Article

September 14, 2023

Conroe, Texas: North Houston’s Emerging “Leading Lady”

Conroe provides small-town living while located only 40 miles north of Houston, the fourth-largest city in the country. This quaint city is currently having a resurgence and is considered one of the fastest-growing cities in Texas. Conroe has a reported population of 103,035 as of August 31, 2023, a 36% increase from 2013, and it is only projected to grow. The town has ample land for new development, and the recent improvements are heavily influenced by the city development model of The Woodlands just ten miles south.With this location near The Woodlands and so much available land, Conroe is starting to experience spillover from that city and become popular as a "bedroom community," resulting in additional residential development. One such project in the city is the highly anticipated Grand Central Park, a 2,046-acre residential community development along Interstate 45 and South Loop 336, just five miles north of The Woodlands.

By Kira Black, Project Manager, Houston, HVS

Conroe, Texas, United States

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Opinion Article

September 12, 2023

The Rebounding San Diego Lodging Market Attracts Investor Interest

In 2022 and the first half of 2023, San Diego hotels experienced unprecedented RevPAR growth, similar to much of California, as markets recovered from the impact of the COVID-19 pandemic. As a result, hotel development and transactions have been strong. However, construction of full-service hotels remains challenging amid a steep rise in development costs.

By Marcus Lee, Executive Vice President, Development, HVS

San Diego, California, United States

Opinion Article

September 11, 2023

The Best Seat in the House is a Cheap Seat

Why do some stadiums attract more tourists and economic impact than others? It does not have to do with the quality of a city’s music scene or attractiveness, but the availability and cost of tickets. Tickets to venues in densely populated areas with higher incomes are harder to get, so instead people travel to venues with tickets that are available, and cheaper.

By Anthony Davis, Senior Director at HVS Convention, Sports, & Entertainment Facilities Consulting in Chicago, Illinois, HVS

Opinion Article

September 11, 2023

HVS Monday Musings: Spreading Wings Wide – India’s Outbound Travel Market

India's outbound travel sector is witnessing a resurgence, mirroring a trend akin to the pent-up demand that fueled domestic tourism in the last two years. Read on to know more.

By Mandeep Lamba, Dipti Mohan, and Dhwani Gupta

Opinion Article

September 7, 2023

“Volleyball Day in Nebraska” Sets World Attendance Record and Boosts Hotel Demand

Approximately 92,000 Nebraska volleyball fans packed Memorial Stadium on August 30, 2023, to watch the Nebraska Huskers sweep Omaha in an outdoor match, setting a new women’s sporting event attendance record. Local hotels benefited from the midweek event, as most available guestrooms in the market were filled.

By Sara E. Olson, Director, Omaha, HVS

Nebraska, United States

Opinion Article

September 4, 2023

Inbound Travel’s Slow Recovery is Hurting U.S. Retailers

International visitors to the U.S. love to shop and spend money at stores across the country. In fact, according to NTTO’s Survey of International Travelers (SIAT), more than 80% of overseas travelers reported that they engaged in shopping, more than any other activity. The U.S. was—and remains—the “single most popular destination for shopaholics” according to a recent WTTC report. In an age when online shopping has replaced many in-person purchases at diverse U.S. businesses throughout the country, the full return—and continued growth—of inbound travel is critical for numerous U.S. retailers.

By Aaron Szyf, Economist, U.S. Travel Association

Opinion Article

September 1, 2023

Mississippi Gulf Coast: A Record Recovery

The COVID-19 pandemic initially posed a major threat to the leisure-heavy Gulf Coast tourism industry, as the market only benefited from one month of Spring Break travel before the stay-at-home orders were issued. However, the state of Mississippi relaxed its COVID-19 restrictions sooner than competitive markets in nearby states, thereby allowing the state’s Secret Coast resorts to capture large amounts of pent-up leisure demand. As a result, occupancy and ADR for July and August nearly reached pre-pandemic levels.

By Lauren Hock, Senior Vice President and Leader of HVS New Orleans, HVS

Mississippi, United States