Markets & Performance Opinion Articles - Hospitality Net

Advertisement

Opinion Article

July 5, 2023

A website for vacation rental properties is a key to success

Short-term rentals offer lucrative opportunities. Renting apartments for short stays continues to gain popularity among travelers, allowing individuals to generate a substantial income. However, professional agencies compete with homeowners offering private apartments for vacation rentals and online travel agencies (OTAs). Property managers must distinguish themselves from the agencies to thrive in this market. One effective strategy is to build a solid online presence by creating a website for vacation rental properties.

By Natalia Janikowska, PR, Avantio

Opinion Article

July 3, 2023

HVS Monday Musings: Raising the Bar for Goa's Tourism

Goa is often called the leisure capital of India and is undoubtedly one of the most popular destinations in the country because of its beautiful landscape, stunning beaches, an array of delectable bars and eateries, besides vibrant nightlife. The state’s tourism sector, which contributes about 16% to the state’s GDP and directly or indirectly employs around 40% of its local population, was among the first in the country to recover from the pandemic. Data shows that the state welcomed nearly 8.1 million tourists in 2022, which is comparable to the pre-pandemic levels. However, with changing traveler preferences, increasing affinity towards experiential tourism, and the growing popularity of other leisure destinations, especially offbeat locations, Goa’s tourism sector will need to step up its game to keep attracting tourists and maintain its leadership position going forward. In line with this thought, the state government is working on various initiatives to take Goa’s tourism sector to the next level.

By Mandeep Lamba, Dipti Mohan, and Dhwani Gupta

Opinion Article

June 29, 2023

European accommodation barometer: summer 2023 edition

After two consecutive six-month periods of robust growth in occupancy and room rates, almost half of the European hoteliers anticipate 2023 to yield the highest revenue in the history of their establishment. At Booking.com, our success is defined by the success of our partner hotels, resorts, guest houses, B&B, vacation rentals, and all other travel lodgings imaginable. And we are glad to learn from them that travel is finally back!

By Ben Schroeter, Director of Strategic Engagement, Booking.com

Opinion Article

June 28, 2023

HVS ANAROCK Hotels & Hospitality Overview, June 2023

Check out the June 2023 edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.

By Dipti Mohan, Akash Datta, and Dhwani Gupta

Opinion Article

June 27, 2023

Birmingham Hotel Market: Setting Up to Knock It Out of the Park

The Magic City, so named because its soil contains the three elements needed to produce iron, was able to steel itself against long-term hospitality demand loss in 2020 better than many hotel markets across the U.S. The city’s proximity to outdoor demand generators, its rapidly growing sports entertainment industry, and the dedicated work of local municipal offices and aid organizations were all important factors that supported the swift recovery of Birmingham hotels.

By Brett Testa, Senior Manager, HVS Atlanta, HVS

Birmingham, United Kingdom

Opinion Article

June 21, 2023

Indisputable Success - The UAE

As UAE recovers from COVID impact and retains its position as a global tourism destination, a performance analysis of the three main emirates for the years 2019 – 2022 is presented by HVS team along with key development trends and opportunities.

By Hala Matar Choufany and Maria Quintero

United Arab Emirates

Opinion Article

June 16, 2023

Hotel Market Beat 2023 Q1 - Europe

London, June 16, 2023 – Europe experienced healthy hotel investment activity with €4.1 billion transacted in Q1 2023, according to global real estate services firm Cushman & Wakefield. This represents an 18% increase on Q1 2022 despite high financing costs and economic and geopolitical concerns.

By Borivoj Vokrinek MBA, Msc, BA and Frédéric Le Fichoux

Ad Tambourine One

All you need is one.

Some call it a website with a booking engine built in. Some call it a booking engine with a website built in. We call it One.

Ad #1 Hotel PMS

See why hotels are switching to Mews

Revenue up. Manual work down. Hotels using Mews see 35% higher RevPAR and 45% more upsells. Book a free demo.

Opinion Article

June 16, 2023

Israel Hotel Market Overview 2023 – Recovery in Progress!

The Israel hotel market has demonstrated remarkable resilience in the face of challenges and has successfully rebounded to the pre-pandemic levels seen in 2019. This article explores the hotel market performances and values in key Israeli locations in 2022.

By Russell Kett and Charles Carpentier

Opinion Article

June 14, 2023

Beyond the PGA Championship: Exciting Happenings in Rochester

The 2023 PGA Championship and the 2024 solar eclipse are just the start of the exciting events and projects in the Rochester area. With the world’s eyes on the city in May 2023 as it hosted golf’s second major championship of the year, this article looks at the PGA Championship’s effects on the Rochester market and what’s to come.

By Christian Cross, Vice President, HVS Buffalo, HVS

Rochester, New York, United States

Opinion Article

June 9, 2023

Easier Visas Lead to Tourism Growth and Increased GDP

HVS and the Abraham Accords Peace Institute analyse the affects of easier visa procedures on tourism growth and the subsequent increase in a country's GDP.

By Russell Kett, Chairman at HVS - London Office, HVS

Opinion Article

June 6, 2023

HVS South America Outlook & Opportunities 2023: Clearing Skies Ahead

After several economic and political disruptions across South America, there is now greater clarity in several countries, giving rise to compelling opportunities in some urban markets and across the leisure sector. The outlook appears bright throughout much of the region.

By Fernanda L’Hopital, Senior Project Manager, HVS Buenos Aires, HVS

Opinion Article

June 2, 2023

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 companies have benefited the most from the ongoing revenue recovery because the fees they receive are frequently earned as a percent of revenue. However, for many hotel owners, along with their lenders and investors, the lag in the return of profits has been a hardship. Afterall, it is the profits of hotel operations that enable owners to pay their debt obligations and provide returns to their investors.

By Robert Mandelbaum and Bill Grice

Ad #1 Hotel PMS

See why hotels are switching to Mews

Revenue up. Manual work down. Hotels using Mews see 35% higher RevPAR and 45% more upsells. Book a free demo.

Opinion Article

May 24, 2023

Extended-Stay Hotels: One of the Fastest Growing Segments in the U.S.

While several new brands have emerged within the limited- and select-service segments over the past decade, the expansion of extended-stay brands was limited prior to 2021, and many of the U.S. hotels within this segment were dated. However, during the last two years, economy and midscale extended-stay brands have experienced a significant expansion.

By Ryan Mark, Senior Project Manager at HVS Denver, HVS

Opinion Article

May 23, 2023

How Major Sporting Events are Spurring Growth in the GCC

Over the past decade, the GCC region has transformed from a business destination to an experiential one, evidenced by an increase in international arrivals, private investments and government visions, initiatives and developments. Hala Matar Choufany, president for HVS Middle East, Africa and South Asia, and managing partner of HVS Dubai, outlines the market developments and what’s on the horizon.

By Hala Matar Choufany, President - HVS Middle East, Africa and South Asia, Dubai, HVS

Opinion Article

May 18, 2023

The Strong Rebound of Newport, Rhode Island, America’s First Resort City

Newport, Rhode Island, became America’s first resort city in the 1720s, as wealthy passengers traveled by ship from the southern colonies and the Caribbean to escape the summer heat and humidity. Among the significant historical attractions in the city, which boasts more standing buildings constructed before 1830 than any other American community, are the legendary Newport mansions that served as summer homes for the likes of Cornelius Vanderbilt in the early 20th century.

By Raymond Parejo, Project Manager, HVS

Newport, Rhode Island, United States

Opinion Article

May 16, 2023

What Can Hoteliers Really Learn From TrevPAR?

Because it provides a more holistic view of the revenue generated across an entire property, more hospitality leaders are turning to TrevPAR (Total Revenue Per Available Room) as a key measurement in their benchmarking and operational strategies.

By Jason Q. Freed, Hospitality Data Evangelist, Otelier

Opinion Article

May 12, 2023

The Diverse Factors Driving the Austin Lodging Market

Austin has enjoyed a strong and resilient lodging market since the Great Recession. But why? This article explores the lodging demand drivers that make Austin one of the most attractive hotel markets in the U.S.

By Shannon Sampson, Senior Vice President and Director of South Texas, HVS

Austin, Texas, United States

Opinion Article

May 10, 2023

Travel Trends and Supply Changes for the Hawaii Lodging Market

Hawaii enacted some of the strictest travel measures in the United States in response to the COVID-19 pandemic. A mandatory two-week quarantine was enforced in March 2020 for all travelers arriving to the Hawaiian Islands; this quarantine applied not only to out-of-state visitors, but also to local interisland travel. As a result, a majority of hotels and resorts suspended operations. In October 2020, a Safe Travels program was introduced, easing the quarantine for inbound travelers contingent upon a negative COVID-19 test result within three days prior to arrival. This policy, in addition to the outdoor living and lifestyle of the islands, contributed to Hawaii being perceived as a safe haven from the pandemic.

By John Berean, Senior Project Manager, San Francisco, HVS

Hawaii, United States

Opinion Article

May 9, 2023

U.S. Major Market RevPAR Rebounds in 2023

For the first time since the onset of the COVID pandemic, CBRE is forecasting the 2023 aggregate revenue per available room (RevPAR) for the nation’s 65 major markets to return to 2019 levels. In 2022, RevPAR recovered nationally but continued to lag in the major markets. According to the February 2023 edition of Hotel Horizons®, 88% of the 65 Horizons® markets are expected to have reached or surpassed their 2019 RevPAR levels by year-end 2023. This compares favorably to 2022 when just 58 of the Horizons® markets saw RevPAR return to 2019 performance levels. The eight markets lagging in recovery are in northern California, the upper-Midwest, and along the northeast corridor from Washington, D.C. through New York.1

By Lindsay Dyer, Senior Research Analyst, CBRE Hotels

Opinion Article

May 8, 2023

India’s Budding Amusement & Theme Parks Sector

India's amusement & theme parks industry is still nascent, accounting for only a minuscule global market share, however, demand in this segment is expected to increase in the future. Read on to know more.

By Mandeep Lamba, Dipti Mohan, and Dhwani Gupta