Reports - Hospitality Net

December 22, 2016

HVS Market Pulse: Perspectives on the New York City Lodging Market

With average rates declining by 1.5% in 2015 and on track to drop at more than double that pace in 2016, the New York City lodging market has received a lot of negative press of late. Between the significant increase in supply and the lackluster average rate performance, the once golden market is now viewed as tarnished. Some hotel owners are selling assets, preferring not to ride out the current downturn; RLJ recently sold two hotels in New York, noting "While we continue to believe in the New York City market over the long term, in the near term, these sales reduce our exposure as this market goes through a soft period." Additionally, some investors and lenders have expressed reluctance to even consider getting in to the market.

By Anne Lloyd-Jones, MAI, CRE, Director of Consulting & Valuation Services, National Practice Leader, at HVS New York, HVS

United States

Report Markets & Performance

December 16, 2016

Market Snapshot: Growing Glasgow

The success of the 2014 Commonwealth Games, which welcomed around 5,000 athletes, has bolstered Glasgow's reputation as a destination with a full range of sporting facilities and a city capable of hosting international events, such as the 2015 World Gymnastics Championships, which attracted over 70,000 people. In 2018, Glasgow will be the stage for the inaugural European Championships expected to have a television audience of more than one billion.

By Lionel Schauder, analyst at HVS London, HVS

Glasgow, United Kingdom

Report Markets & Performance

December 6, 2016

Tourist Spending In Mexico Is Critically Low | tourism-review.com

Average tourist spending by foreign visitors to Mexico is only half of what it is in Dominican Republic, and at least 300% below that of the United States, India and Australia, according to a study by Anahuac University and the National Tourism Business Council (CNET).

tourism-review.com

Mexico

Report Markets & Performance

December 6, 2016

Italian Tourism Industry Steadily On The Rise | tourism-review.com

Tourism industry in Italy has become the most important growth provider for the country’s economy this year. The trend is expected to continue in 2017/18 as well. The gross domestic product is expected to increase by 0.9% in 2016 and tourism by 1.5%. The turnover in tourism accounts for 171 billion euros, which is 11.8% of the GDP. The sector employs 3.1 million people, 12.8% of the Italian workforce.

tourism-review.com

Italy

Report Markets & Performance

December 5, 2016

HVS Key Takeaways: CHICOS 2016 | By Kristin Rinaudo and Parris Jordan

HVS recently held its 6th annual Caribbean Hotel Investment Conference and Operating Summit (CHICOS) at the Ritz-Carlton in San Juan, Puerto Rico. Hotel developers, investors, operators, lenders, brand representatives, and government leaders came armed with questions and information on the prospects for the region's hotel industry. Here are some key takeaways.

By Kristin Rinaudo, Vice President of HVS Atlanta, HVS

Report Markets & Performance

December 2, 2016

AETHOS Consulting Group Shares 2017 Predictions, US

With just weeks left in the 2016 calendar year, AETHOS Consulting Group in New York, Los Angeles, London and Melbourne have gathered their thoughts and will boldly share their predictions, concerns and issues for the coming year. And while AETHOS executives focus on issues relative to their respective parts of the globe, issues naturally transcend and impact our industry worldwide.

By Keith Kefgen and David Mansbach

United States

Report Markets & Performance

December 2, 2016

AETHOS Consulting Group Shares 2017 Predictions, EMEA

With just weeks left in the 2016 calendar year, AETHOS Consulting Group in London, New York, Los Angeles and Melbourne have gathered their thoughts and will boldly share their predictions, concerns and issues for the coming year. And while AETHOS executives focus on issues relative to their respective parts of the globe, issues naturally transcend and impact our industry worldwide.

By Chris Mumford and Thomas Mielke

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Ad Guide

The next-gen metrics that move hotel P&L

Hotel tech has changed what's possible – and measurable. RevPAR and ADR aren't enough; discover the metrics that really matter.

Mews

Report Markets & Performance

December 2, 2016

AETHOS Consulting Group Shares 2017 Predictions, Asia-Pacific

With just weeks left in the 2016 calendar year, AETHOS Consulting Group in New York, Los Angeles, London and Melbourne have gathered their thoughts and will boldly share their predictions, concerns and issues for the coming year. And while AETHOS executives focus on issues relative to their respective parts of the globe, various issues naturally transcend and impact our industry worldwide.

By Georgianne Fsadni, Director, AETHOS Consulting Group

Report Markets & Performance

November 28, 2016

Las Vegas Casino & Hotel Market Outlook 2016

Las Vegas lives on reputation. A city of enticement, its draws include world-renowned institutions and venues for gambling, dining, entertainment, conventions and meetings, and high-end shopping. Gaming, both in terms of visitors who come to gamble and gaming wins per visitor, is evidently in decline in the market. Hence, there is a continuing need for casino owners and hoteliers in Las Vegas to track and focus on other ways in which visitors create revenue. The generation of more non-gaming revenue should make the market better equipped to withstand future economic downturns.

By Shannon Okada and Bomie Kim

Las Vegas, Nevada, United States

Report Markets & Performance

November 22, 2016

Tourism In Venice Driving The Locals Out Of The City | tourism-review.com

Tourism in Venice has been a growing problem; the city is overrun by tourists. Many of the local inhabitants have left the center, and are still leaving in droves. Within one generation the population has shrunk by almost a third. Rising costs are driving more and more people out of the city. This month the number of inhabitants has fallen to under 55,000. In 1951 the population was 175,000. 26 years ago it was still 78,000. Another problem is that almost half of the population is over 60 years old. On the other there are only about 9000 people under 18 years old.

tourism-review.com

Venice, Italy

Report Markets & Performance

November 22, 2016

The Resilience Of Business Tourism In France | tourism-review.com

Tourism in France suffered greatly last year; especially Paris and its suburbs. The hotel industry in Ile-de- France reported that the number of overnight stays in the second quarter of 2016 fell by 10.6% compared to the previous year. The decline in the number of foreign customers was particularly noticeable: 13.9% year-on-year in the second quarter of 2016. Japanese tourists were the biggest group that left Paris, their number dropped by 46.2% compared to the previous year. Fortunately, business tourism, the professional counterpart to leisure tourism, is performing better, and despite a lackluster year, the Ile-de-France maintains its dominant position in Europe.

tourism-review.com

France

Report Markets & Performance

November 15, 2016

Brexit: A Boon For Domestic Tourism In Great Britain? | tourism-review.com

The vote of British electors in favor of the United Kingdom's exit from the European Union (EU) in June 2016, commonly known as “Brexit,” will have consequences for the country's tourism industry, as well as for Europe. It seems domestic tourism will benefit quite substantially. It was one of the most discussed topics at the World Travel Market (WTM) 2016. It is the subject of an entire chapter in the 7th edition of the “Industry Report” presented by the fair and is at the heart of several conferences.

tourism-review.com

United Kingdom

Ad Guide

The next-gen metrics that move hotel P&L

Hotel tech has changed what's possible – and measurable. RevPAR and ADR aren't enough; discover the metrics that really matter.

Mews

Report Markets & Performance

November 14, 2016

HVS Market Pulse: Branson, MO

Named after the owner of the area's first general store and later developed as a center for lumber shipments, Branson, Missouri, had an inauspicious start as a tourism destination. Over the course of the past century, however, Branson has built a reputation as a "family friendly" counterpart to Las Vegas, featuring a high density of live music and theater performance venues along a stretch of State Highway 76 nicknamed "The Strip."

By Justin Westad, Vice President at HVS Minneapolis, HVS

Branson, Missouri, United States

Report Markets & Performance

November 10, 2016

Hotel Bulletin Q3 2016

The Q3 2016 Hotel Bulletin analyses the first full quarter of data following the EU referendum in June. Very early trends suggest that a divide could be emerging between leisure and corporate focused markets. Cities with larger tourist industries recorded strong RevPAR growth as international visitors flocked to benefit from a weaker Pound, whereas cities outside this group continued recent trends of plateauing or declining RevPAR. This quarter's Focus examines he independently branded hotel market, where a number of groups have created unique customer propositions and enjoyed significant success.

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

United Kingdom

Report Markets & Performance

November 1, 2016

In Focus: Udaipur – An Oasis of Potential

Located in the Girwa valley, amidst the desert of Rajasthan, stands the city of Udaipur. The once capital of the mighty Mewar Kingdom, Udaipur is now one of the most sought after leisure destinations India has to offer. Aptly known as the "City of Lakes", the scenic Lake Pichola and Fateh Sagar Lake are centres of most of the leisure activity in the city. The atmosphere of royalty can not only be sensed in the palaces and gardens of Udaipur, but by way of the luxury hospitality experience as well. This article focuses on the history and progress of the Udaipur hotel market in addition to a brief outlook of its future potential.

By Shunit Roy, Analyst at HVS New Delhi, HVS

Udaipur, India

Report Markets & Performance

October 18, 2016

The Business of Leisure in India

Twenty years is a long time to understand a hotel market, which is about the same time when the first HVS Asian office was set up in New Delhi. Yes, what is happening in the leisure space for hotel accommodation in India today is indeed a revelation that needs to be recognized.

By Manav Thadani, Chairman - HVS Asia Pacific, HVS

India

Report Markets & Performance

October 18, 2016

In Focus: Greece

In December 2008, we put together an article titled "The Changing Face of the Greek Hospitality Market" outlining the situation in the Greek hotel market at that time. Nearly eight years later, and after a volatile period inside and outside the country, we think it is appropriate to update our findings since we all live in "a completely different world" which has been profoundly transformed in terms of the sense of general prosperity prevailing in the Western economies since the mid-2000s. Thus, we wonder: "Has the Greek Hospitality Market Even Changed?"

By Nana Boussia, Themis Trakas, and Pavlos Papadimitriou

Greece

Report Markets & Performance

October 11, 2016

HVS Market Pulse: Baton Rouge, LA

Baton Rouge, aka the "Red Stick," was so named by 17th century French explorers who came upon a native boundary marker at the top of a bluff, in the form of pole painted red. Now the capital city of the state of Louisiana, Baton Rouge is also the seat of East Baton Rouge Parish and the political hub of Louisiana.

By Bunmi Oyinloye, Senior Vice President, Leader - Houston Office, Houston, HVS

Baton Rouge, Louisiana, United States

Report Sales & Marketing

October 4, 2016

Corporate Hotel Rate Negotiations 2017 Forecast – A Change in the Balance of Power from Sellers to Buyers

As the corporate and contract rate negotiation season is about to begin, the 2017 outlook is for a change in the balance of power from sellers to buyers. Corporate and contract rate negotiations generally begin during September and continue into December. Corporate and contract rates represent almost 20 percent of occupied U.S. room nights and almost 30 percent of U.S. lodging industry revenue.Following among the largest percent and dollar increases in corporate contract rates in decades of typically between 5.75 to 7 percent for 2016, the forecast for 2017 is for increases on 3.25 to 4.0 percent. Overall average daily rate (ADR) for the U.S. lodging industry is expected to increase approximately 4.5 to 5.0 percent in 2016, with smaller increases for 2017 of 4.0 to 4.5 percent.U.S. hotel occupancy in 2015, approximately 65.5 percent, was the highest since 1984 and consensus forecast for 2016 at the time of the negotiations was for occupancy to increase, so the balance of power in negotiations favored sellers. Actual occupancy will be slightly lower than occupancy in 2015.There are four factors that will have the greatest effect to shift the balance of power from the sellers to the buyers:

By Bjorn Hanson, Ph.D., Clinical Professor, NYU

United States

Report Markets & Performance

October 4, 2016

In Focus: Patras, Greece

Patras is the regional capital of Western Greece and the country's third largest city. It is located 215 kilometers west of Athens, within Achaia Prefecture, while the port of the city serves as the main gateway to Greece from Western Europe. Τhe urban complex of the city is the third most populous in Greece after the ones of Athens and Thessaloniki and it constitutes one of the largest financial, commercial, and cultural center of the Peloponnese Peninsula and Western Greece. The city hosts the University of Patras which is one of the country's most prominent public universities and the University Regional General Hospital which is affiliated with the University of Patras and has earned a reputation as a well-respected medical center.

By Nana Boussia and Pavlos Papadimitriou

Patras, Greece

Technology 2 hours ago

Premier Inn introduces Alliants Room Keys in Digital Wallets

Alliants will deploy its Experience Platform across Premier Inn's 95,000+ rooms in the UK and Germany, enabling guests to store room keys in Apple or Google digital wallets for contactless entry.

Alliants

United Kingdom

Technology 7 hours ago

Folio Joins Avendra International’s Preferred eProcurement Partner Network to Help Hotels Optimize Program Spend

Folio joins Avendra International's eProcurement Partner Network, giving hotels access to 5,000+ contracted suppliers and $20.5B in purchasing power, with one client lifting program participation by over 10%.

Folio

United States

Technology 7 hours ago

Canary Technologies and Ulyses Cloud by Septeo Partner to Bring Hospitality-Specific AI to Properties Across Spain

Canary Technologies integrates with Ulyses PMS by Septeo, enabling Spanish hotels to connect AI-driven guest management tools directly with their PMS to automate workflows and improve efficiency.

Canary Technologies

Technology 8 hours ago

Beyond PMS and POS. Building a Connected Hotel Data Ecosystem

Hotels with fragmented PMS, POS, and payment systems lose decision-making speed and personalization opportunities; this piece argues data integration is now a core strategic capability, not just an IT task.

Shiji

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