U.S. Real Estate Market Outlook 2024
Slowly Falling Interest Rates Should Boost Investment Activity.
Reports
DACH hotel sector outshines serviced apartments in Q4 revenue boom
The final quarter of 2023 painted a rosy picture for the DACH hotel sector, with high demand sending revenues 13.7% higher year-on-year compared to a modest 0.3% increase for serviced apartments.
Report: Tripadvisor Releases Seasonal Travel Index Results (March - May 2023)
Tripadvisor®, the world's largest travel guidance platform, releases its first Seasonal Travel Index of 2023, providing an outlook for travel patterns and demand over the next three months.
Report: Hotel-generated state and local tax revenue to reach new highs in 2023
Hotel-generated state and local tax revenue will reach new heights nationally ($46.71 billion) and in states across the nation this year, according to state-by-state projections released today by the American Hotel & Lodging Association (AHLA) and Oxford Economics.
The Latino Hotel Association Releases Inaugural Hotel & Entrepreneurship Investment Report
The Latino Hotel Association released the 2023 inaugural Latino Hotel and Entrepreneurship Investment (LHEI) Report showcasing data and research detailing Hispanic entrepreneurship, economic and population growth, and specific opportunities and barriers to Latino business ownership within and outside the hospitality industry. The LHEI report advocates for specific policy needs necessary for Latinos to navigate the steps required to own and invest successfully in hotels and demonstrates the importance of Latino ownership to hotel chains seeking franchise owners.
h2c's Global Hospitality Distribution Study Report
The corona crisis had at least one positive effect on hospitality, which is only slightly proven by hard numbers: Online direct bookings soared up last year. Based on the responses of 96 hotel chains worldwide, representing over 2 million rooms, website bookings increased to 20% of total hotel revenue in 2022, nearly doubling from 2017 levels (10%), when h2c conducted its first Distribution study.
Poland Hotels & Chains Report 2023
A very warm welcome to this latest edition of the Horwath HTL Poland Hotels and Chains report.
REPORT: Hotels Continue to Recover in 2023 as Industry Begins New Era of Operations
The hotel industry in 2023 is projected to surpass pre-pandemic levels of demand, nominal room revenue and state and local tax revenue, while inching closer to other key 2019 performance metrics, according to the American Hotel & Lodging Association’s 2023 State of the Hotel Industry Report.
Despite Circumstances, Hotel Market Expected to Rise in 2023, According to Christie & Co's Annual Business Outlook Report
Hotel real estate specialist Christie & Co has released its annual Business Outlook 2023 report - “Finding Clarity”, which highlights key hotel market activity, trends and challenges in 2022 and provides forecasts for 2023.
Knowland and ConferenceDirect Release 2023 State of the Meetings Industry Report
Today, Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, and ConferenceDirect, a full-service global meetings solution company, announced the results of a survey entitled, 2023 State of the Meetings Industry. The collaboration reveals insights to help industry professionals understand what meeting planners and event managers expect and will prioritize in 2023.
[REPORT] Leisure and Hospitality Employment
While the overall U.S. jobs market has now surpassed pre-pandemic levels, the Leisure & Hospitality (L&H) industry still remains far behind in its recovery of lost, and desperately needed, jobs.
Report: Hotels’ Recovery Continues, Workforce Challenges Remain
Midway through 2022, the hotel industry continues to make strides toward recovery, with nominal hotel room revenue and state and local tax revenues projected to exceed 2019 levels by the end of this year, according to the American Hotel & Lodging Association (AHLA)’s 2022 Midyear State of the Hotel Industry Report. Hotel room revenue is projected to surpass $188 billion by the end of 2022, eclipsing 2019 figures on a nominal basis. When adjusted for inflation, however, revenue per available room (RevPAR) is not expected to surpass 2019 levels until 2025.
WTTC launches new report on best practices for short-term rentals
The World Travel & Tourism Council (WTTC) has launched a new ground-breaking report that outlines recommendations and best practices for jurisdictions to manage short-term rentals – a fast growing and important segment of the Travel & Tourism sector.
5 insights into the 2020 forecast for US hotels
The odds of the U.S. economy entering a recession in 2020 have fallen to around one in four, according to Tourism Economics President Adam Sacks, but an inevitable slowdown in economic growth is a reality that the travel and hotel industries will have to live with for the foreseeable future.
Hotel Values Moderate, Cap Rates Stable
Despite increasing concerns about a global economic slowdown, the trade war, and geopolitical risks, the U.S. hotel transaction market remained healthy and active in 2019. According to preliminary data generated by Real Capital Analytics (RCA), total sales volume declined by 15%, from $43.6 billion in 2018 to $37.1 billion in 2019, though as will be illustrated, the decline was due primarily to lower portfolio sales activity.
By Suzanne Mellen, Senior Managing Director - Practice Leader, San Francisco, HVS
Luxury Hotels: Elevated Occupancy and Expenses
Despite the relatively high cost of construction and complexity of operations, developers are still attracted to owning and managing luxury hotels. As of August 2019, STR reports that just 0.7 percent of the hotels (2.3% of rooms) in the United States are chain-affiliated luxury hotels. Concurrently, the STR pipeline report shows that 1.2 percent of the properties (2.9% of rooms) either under construction or planned for development meet this criterion.
By Robert Mandelbaum and Mark Woodworth
Recovery continues in French travel market
Following several challenging years, recovery continues in the French travel market, according to Phocuswright's latest travel research report, France Online Travel Overview 2019. Since the election of reformist President Emmanuel Macron in 2017, the country has reduced its budget deficit while curtailing unemployment and restoring consumer confidence. Unfortunately, the country's reputation as a destination was badly affected by the violent Yellow Vest protests in early 2019, which disrupted locals and tourists alike. And the travel sector's reputation has also been tarnished by several high-profile bankruptcies in late 2019, most notably the collapse of industry giant Thomas Cook and the failures of the number two and three French airline players — XL Airways France and Agile Azur. Though unrelated, these near-simultaneous events have cast an air of malaise over the French travel market, casting a dark shadow over what would otherwise have been a stellar year.
Trump Hotel prices down 16% since Trump became president
International travel money expert Equals has revealed the cost of a stay in Trump hotels around the world is currently 16% lower than the weekend of the presidential inauguration in January 2017, equivalent to an average price drop of £661 per room.
Context matters: HSMAI members on signs of a downturn
Where the industry stands in terms of a downturn remains a question for many, and sales and marketing experts are no exception. During a recent think tank held in conjunction with the Hospitality Sales and Marketing Association International's Sales Leader Forum near Dallas, Allison Handy, SVP of sales, marketing and revenue optimization at Prism Hotels & Resorts, posed this question: "Is our industry creating its own recession?"
Managing RevPAR For Profits
Per the name, the historical role of revenue managers has been to maximize revenue - specifically rooms revenue or RevPAR. RevPAR growth is achieved by increasing occupancy and/or average daily rates (ADR).
By Robert Mandelbaum and Bram Gallagher