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An updated lodging forecast released today by PwC US anticipates lodging recovery will enter a new phase, with continued strengthening in group demand and rebounding economic momentum supporting a solid ... "With the recovery in group demand accelerating, hotel operators at the higher price points are poised to benefit."
Volume of Transactions Nationwide Forecasted to Continue Increasing Through 2015: In the survey, 83% believe that calendar 2015 overall hotel asset sales volume will be greater than actual/forecasted year ... Future of "True Group" Demand is Positive: If one defines "True Group" Demand as both blocks of 10 rooms or greater and using meeting/function space either at the property or nearby convention center,
PKF-HR is forecasting unit-level NOI increases of 12.4 percent in 2014, and another 14.2 percent in 2015. ... The increased profitability of convention hotels is consistent with the initial stages of the recovery of the group demand segment that we have observed," Woodworth said.
GBTA's forecast upgrade will be fueled by strong investment in international outbound travel spending, which is now expected to increase 12.9% to $37.2 billion – up from 12.5% growth forecasted in Q4. ... Today's forecast suggests that this measured but steady improvement should continue."
Rauch & Associates (RAR) hosted Onward & Upward: A Lodging Industry Forecast for 2014 on Friday, March 14, 2014 at the company's owned and managed Hilton Garden Inn San Diego/Del Mar. ... Bob Rauch provided his forecast that Revenue Per Available Room (RevPAR) - a key metric in the hotel industry - will increase 6 percent in 2014, and 6 percent in 2015 after increasing 5.4 percent last
Our current supply forecasts for the next three years are well below that threshold," Woodworth said. ... Strong Fundamentals Continue Strong increases in lodging demand continue to support the supply growth that is occurring.
While transient demand started to grow during the latter part of 2009, it wasn't until 2011 that significant gains were seen in group room nights. ... PKF-HR's December 2013 Hotel Horizons® forecasts call for occupancy levels in excess of 70 percent in the luxury, upper-upscale and upscale lodging categories.
to a forward 12-month cap rate of 6.8% and forward 12- month EBITDA multiple of 12.7x Minimal CapEx needs after receiving $6 million of capital expenditures over the last few years Chicago market forecasted ... The Chicago lodging market has experienced a substantial recovery in the past three years driven by outsized corporate and leisure demand growth with little corresponding supply growth, and continued gains
"We are pursuing sites that have high barriers to entry with multiple demand generators and long-term growth opportunities," said Jatin Desai, Peachtree CIO. ... "Between operating performance and acquisition opportunities, we forecast another strong year for Peachtree and the hospitality industry overall," said Mitul Patel, Peachtree COO.
Driven by a series of econometric forecasting models, the Hotel Horizons ® reports cover five years of supply, demand, occupancy, ADR, and RevPAR for 50 major U.S. markets, as well as six national chain-scale ... Local Forecast Accuracy Varies While PKF-HR's national forecasts proved to be consistently accurate, the precision of the firm's local level forecasts varies from market to market.
Demand growth will exceed projections, probably reaching 2.2% to 2.4%. ... The confluence of strong industry fundamentals and an improving economy signals a forecast of more sunny days ahead for some time to come. 2.
In 2010, the economy continued to remain in a recession while demand for lodging began to improve. ... The bottom line, our forecast calls for an overall increase of 2 percent in demand and 4 percent in average rate with a 1 percent increase in supply.
“Our firm’s forecast for nominal ADR growth in 2013 is 3.9 percent. ... Based on Moody’s projections for GDP, income and employment growth in 2014, PKF-HR is forecasting lodging demand to grow by 3.0 percent along with a 1.8 percent rise in supply.
The group agreed the industry should strive to set average daily rates higher commensurate with increasing demand. ... "There is unconstrained demand in many markets, so it's all about how can we push rate," said Johnson.
Short On Top After observing two years of strong growth in demand during 2010 and 2011, hotel managers assumed that they would be empowered to raise their room rates more aggressively in 2012. ... With such a positive market forecast, historical trends indicate that the odds are favorable for U.S. hotels to achieve their budgeted targets in 2014.
"Over the years, we've worked alongside IDeaS to instill a more cohesive, analytical approach to revenue management and gain more insight and control over our forecasting and pricing strategies for multiple ... By tracking and analyzing historical and current business performance, the system enables properties to more accurately and strategically optimize demand and increase revenue.
The lack of meaningful increases in hotel supply , an economy that supports growth in lodging demand and market leverage that allows for real room rate growth leads to PKF-HR forecasts of healthy increases ... Hotels in all seven of these cities are forecast to achieve ADR growth less than the pace of inflation in both 2013 and 2014.
The already healthy operating performance of the property, coupled with a strong rebound in demand fundamentals and the implementation of Pebblebrook's best practice and asset management initiatives, makes ... During the next 12 months, the Company currently forecasts that the hotel will generate earnings before interest, taxes, depreciation and amortization ("EBITDA") of $3.8 to $4.3 million and net operating
An updated lodging forecast released today by PwC US shows favorable gains in hotel performance, consistent with PwC's expectations at the start of the year. ... As demand continues to outpace supply growth, and economic growth strengthens, PwC expects growth in average daily rate ("ADR") will continue, resulting in RevPAR growth of 5.6 percent in 2013, improving