Chinese people are preparing for the upcoming Spring Festival or the Chinese New Year. It is expected that many will be on the move, as the current economic trend favors travelling. According to Ctrip, a Chinese travel agency, approximately 6.5 million Chinese tourists are going to travel abroad during the holidays.
2017 was full of triumphs and disappointments on the African continent. Some countries that had a positive outlook at the beginning, turned into the problem children of Africa and countries that seemed hopeless in the beginning, surprised us in the end. This article provides a brief summary of some of the most significant events of 2017 and commentary on how 2018 may evolve in the fast-developing world that is Africa. Trump's remarks have shown the need for Africans to independently take responsibility for their actions, resolve issues, help each other and above all, not rely on others who do not truly understand the continent. There were plenty of examples of just that last year:
According to the recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines are; Marriott with 1,410 Projects/180,647 Rooms, Hilton with 1,287 Projects/144,958 Rooms and IHG with 831 Projects/84,865 Rooms. These 3 franchise companies comprise 69% of all projects in the Total Pipeline.The largest brands for each of these companies are: Marriott's Fairfield Inn with 303 Projects/29,051 Rooms and TownePlace Suites with 208 Projects/21,299 Rooms; Hilton's Home2 Suites with 355 Projects/37,188 Rooms and Hampton Inn & Suites with 314 Projects/32,386 Rooms; and IHG's Holiday Inn Express with 444 Projects/41,343 Rooms and Staybridge Suites with 135 Projects/14,124 Rooms.By the close of 2018, Marriott is forecasted to open 351 Projects/43,587 Rooms, Hilton is set to open 294 projects/32,192 Rooms and IHG expects 174 Projects/17,982 Rooms to open. Marriott also leads in new openings for 2019 with 362 Projects/44,624 Rooms, IHG is anticipating 272 Projects/26,983 Rooms and Hilton expects 253 Projects/28,584 Rooms to open next year.
After more than five years of relative stability, new factors are at play in the hotel investment market that will affect hotel capitalization rates and values in a changing economic landscape. Hotel sales transaction activity declined in 2017, while cap rates continued to rise modestly, and hotel values held stable. The outlook for 2018, while uncertain because of the changing political and economic landscape, is more positive than a year ago due to the tax reform's favorable treatment of commercial real estate and a more optimistic business environment. This article presents recent trends and a sensitivity analysis illustrating the potential impact of these forces.
The OR Tambo International Airport (ORTIA) is still by far the largest airport in South Africa, and regional airports such as Lanseria Airport (HLA) benefit greatly with feeder markets from international arrivals. Flights into HLA are convenient for most passengers due to its size which facilitates fast turnarounds, ample parking and access to major highways.
In 2017, Vietnam received 73 million domestic visitors and nearly 13 million foreign tourists, an increase of nearly 30% on year-on-year basis, with a turnover of approximately 510,000 billion dôngs (EUR 18.3 billion). An unprecedented rise.
"Welcoming nearly 13 million foreign tourists in Vietnam in 2017 and a three million year-over-year increase is a new record in Vietnam's tourism sector," said Nguyen Van Tuan, head of the National Tourism Administration.
According to him, 2017 was the first year of implementation of the Political Bureau's resolution No. 08-NQ / TW to make tourism a leading economic sector. 2017 was also an important milestone in achieving the resolution's target of 17 to 20 million foreign tourists by 2020.
Africa reached a record 62 million international arrivals in 2017, translating to a growth of 8%. Arrivals in Sub-Saharan Africa increased by 5% while North Africa enjoyed a strong recovery with a 13% growth in arrivals. The continental growth supersedes that of the international number, which stood at 7% in 2017 to reach 1,322 million. This is according to the latest UNWTO World Tourism Barometer, which goes on categorize the tourism sector as a key driver in economic development.
After rather promising numbers in 2017, 2018 appears to be even more fruitful for the continent, according to tourist offices surveyed by Tour Hebdo. The United Kingdom even expects to break all of its records, exceeding for the first time the 40 million international visitors’ limit, to reach 41.7 million visitors, with an increase of 4.4% in contrast to 2017.
Croatia seems to be reaching for its historical record. The minister of tourism says that the country should host 20 million international visitors in 2018, in comparison to nearly 18.5 million last year, including 540 000 French arrivals. The Croatian administration announces the opening of 40 new hotels this year, which further expands the hotel capacity of the country.
My, oh, my! The famous catchphrase coined by Seattle Mariners' longtime sportscaster, Dave Niehaus, is ever so fitting as we look at how Seattle has changed over the last ten years. Seattle enjoys a diverse economy rooted in manufacturing, biotechnology, high technology, telecommunications, health care, and tourism. Metro Seattle, especially Downtown Seattle and Bellevue, is experiencing a period of exponential growth anchored by tech giants, such as Amazon, Microsoft, Google, and Expedia. The area is also home to several Fortune 500 companies, such as Boeing, Costco, PACCAR, Weyerhaeuser, Starbucks, and Nordstrom. Moreover, other key employers in the area, such as the University of Washington, Bill & Melinda Gates Foundation, and Fred Hutchinson Cancer Research Center, strongly influence the local and regional economies. Today, Seattle is among the fastest-growing cities in the U.S., and the commercial developments in the area have fueled unprecedented hotel demand growth, spurring new hotel construction throughout the market.
Anchoring the west end of the Dallas/Fort Worth Metroplex, Fort Worth features the old and the new. Also known as "Cowtown," the cattle industry initially spurred economic development in the city. Today, glass and steel skyscrapers share the sidewalks of Downtown with renovated historic districts, such as the Fort Worth Stockyards National Historic District and Sundance Square.
Philadelphia lays claim to many firsts in the U.S., including the first state capital, public library, hospital, stock exchange, and even the nation's first zoo. Today, revitalization efforts continue to fuel the city's engine of innovation, building on a base of airport, tourism, education, and convention demand drivers. Strong group demand in recent years, combined with rising levels of transient corporate and leisure travel, has boosted occupancy and average daily rate (ADR), especially within Philadelphia's Center City submarket.
The market is experiencing a period of economic strength and expansion, primarily led by the tourism and leisure industry and the presence of Disneyland and the Anaheim Convention Center, which continue to attract visitors and bolster lodging demand.
The Detroit metropolitan area has experienced significant economic growth in recent years, fueled by a strengthening auto industry as well as the continued diversification of the local employment landscape. The hotel sector is benefitting from existing employers expanding operations locally and new entrants to the market. The Big Three automakers continue to invest in the region, while companies like e-commerce giant Amazon.com Inc. are building large warehouse facilities. Revenue gains for hotels were accordingly robust during the 2010–2016 period. Revenue per available room (RevPAR) during that stretch grew nearly 71 percent, rising from a low of roughly $38 in 2009 at the depths of the Great Recession to over $64 by year-end 2016. Both the average daily rate (ADR) and occupancy have posted consistent gains since 2010. Moreover, hoteliers sold a record number of room nights in the city of Detroit in 2016, according to STR. Occupancy levels approached 70 percent by the end of 2016, with ADRs of nearly $150 in the central business district (CBD). The data for 2017 show a relatively stable occupancy level with robust gains in ADR. The record performance achieved in this expansionary period has spurred tremendous hotel development in the downtown core and suburbs.
Minister of tourism in Algeria announced his plan to substantially increase the number of tourists. 4.4 million international tourists are expected in Algeria by 2027, in contrast to 2.4 million today.
The Minister of Tourism and Handicrafts, Hacène Mermouri, has been quoted by the Oxford Business Group (OBG), an international consulting firm, saying that 1,812 new hotel infrastructure projects have been approved by the Ministry. This series of projects is expected to increase the capacity to 240,000 beds, in contrast to the current 100,000, and create 99,000 jobs.
Tourism is booming in Greece. According to the World Tourism and Travel Council, the number of international tourist arrivals has grown more than 1.5 times in the past seven years. Euromonitor International has included Athens in the top three tourist destinations in European, and the number of tourists is growing faster than anywhere else. According to analysts, the number of tourist arrivals will grow by another 10% in 2017.
Lubbock (aka "Hub City"), Texas, connects business, educational, and healthcare enterprises spread across the region known as the South Plains. This region encompasses the largest contiguous cotton-growing operations in the U.S., and agriculture, manufacturing, and technology are pillars of the local and regional economies. Economic growth in Lubbock has boomed over the past several years, and through a varied cross-section of industries, the city's Downtown is poised for a major revitalization.
Tampa's warm weather and relatively inexpensive cost of living are just a couple of the reasons people and companies are relocating to the Tampa Bay area from far and wide. Continued investment by both the public and private sectors is anticipated to set the stage for continued growth. These factors, among others, are driving hotel demand and room-night production, which is leading to an increase in new hotel developments.
HOME Weekly Travel News MACAU TOURISM TO WELCOME 40 MILLION VISITORS IN 2025 MACAU TOURISM TO WELCOME 40 MILLION VISITORS IN 2025Richard Moor - Dec 4, 2017 0 Asia & Pacific - Macau - Travel & Tourism Industry News Travel, tourism & hospitality industry coverage news Macau may receive up to 40 million visitors in 2025, which represents an increase of almost 30% compared to last year, as announced by the Macau tourism authorities during the presentation of the Tourism Industry Development Master Plan.
Macau, with its mere 30 square kilometers of area, a population estimated at 648.4 thousand residents and as the only place in all of China where gambling is allowed, received 30.9 million visitors in 2016, most of them coming from mainland China.
A recent study on the tourism sector in Portugal revealed that the industry is likely to grow in the area of luxury hospitality and several niche products like nature, surf, sun, beach, and culture. The regions with positive outlook with respect to tourism include Algarve, Lisbon, Porto and Madeira.
The study was published by Cushman & Wakefield in response to the increasing interest of real estate investors in the Portuguese tourism sector. The report “Hospitality Market in Portugal 2017” talks about a booming hotel sector in the country, marked by an excellent performance of hotels and by the ever increasing tourist indicators registered year after year, since 2010.
The tourism sector in Africa, which according to UNWTO saw an 8% increase in international arrivals in 2016, is progressively becoming prominent largely due to the increased commitment from governments. Possessing massive potential to foster positive change and transformation, it is timely that most heads of states and governments are seeing the urgency to prioritize the sector now directly accounting for 10.2% of the world's GDP (US$2.3 trillion).