In the fall of 2010 when U.S. hotel managers were preparing their budgets for 2011, most industry participants were pleasantly surprised at the strong pace of the recovery in lodging demand . ... The net result was a forecast of 8.6 percent growth in rooms revenue.
Supply and demand are expected to end the year with increases of 0.5 percent and 2.6 percent, respectively. "Record levels of demand for hotel rooms persist," said Amanda Hite, president of STR. ... Supply and demand are forecast to end 2013 with increases of 0.9 percent and 1.2 percent, respectively.
Outlook for 2012 and 2013 Based on performance data through June of 2012 (provided by Smith Travel Research - STR), and Moody's Analytics' July 2012 domestic economic forecast, PKF-HR now is forecasting ... Robust demand growth was the primary reason for the superior gain in RevPAR," Woodworth explained.
, with slightly stronger gains in both demand and pricing than previously anticipated. ... A full copy of PwC's US Lodging Forecast can be accessed by visiting: http://www.pwc.com/us/en/asset-management/hospitality-leisure/publications/index.jhtml
Following the record $1.85 billion amount collected in 2011, total fees and surcharges collected by U.S. hotels are increasing again in 2012, forecast to total a new record of $1.95 billion. ... Fees and surcharges have increased every year except for periods following 2001 and 2008 when lodging demand declined.
“June included two extra weekend days compared to June 2011, which helped with leisure demand during this busy travel season and boosted the month’s performance,” said Brad Garner, COO at STR. ... STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information.
These forecasts are identical to the RevPAR forecasts presented in the March 2012 edition of Hotel Horizons®. ... “The cities of Nashville, Houston, New Orleans and Salt Lake City are forecast to experience the greatest gains in demand in 2012.
As a result of continued recovery in demand, US RevPAR is expected to increase by 6.5 percent in 2012 and 5.6 percent in 2013, building on the strong 8.2 percent increase in 2011. ... A full copy of PwC's US Lodging Forecast can be accessed by visiting: http://www.pwc.com/us/en/asset-management/hospitality-leisure/publications/index.jhtml
Demand fundamentals continue to be extremely strong in Manhattan. The significant supply influx over the last three years has been well absorbed. ... Overall, we forecast the market to return to its pre-recession peak RevPAR level by 2013. A total of 73 hotels opened from March 2008 through March 2012, representing 13,093 new rooms.
Even with the specter of rising gas prices on the horizon, demand for leisure travel services this summer is looking up. QG1. ... Base: Renting a Car/ Traveling in a Personal Vehicle/Your own or rented RV Fortunately, as was also in the case in the spring of 2011, the record-breaking gas prices forecast this spring failed to materialize
GroupREV™ group forecasting and pricing software at four locations over the next two months. ... "We started developing GroupREV quite a while ago in response to demand for a group forecasting and pricing solution for hotels that caters primarily to groups and conventions and because no existing product
"Leisure travel this summer will add to the already compelling demand storyline for the hotel industry," said Brad Garner, COO at STR. ... "We expect very little contribution to the overall demand numbers from government transient and group travel," Garner continued.
This growth and major planned projects continue to pump hotel demand into the city. ... Hotel Supply and Demand Houston"s citywide hotel occupancy remained near or above 65% from 2005 through 2008 4 , driven by hurricane-related demand, as well as several years of a booming economy.
Hospitality industry experts across the nation are forecasting that 2012 will continue the growth and recovery of room demands that started in 2011. 1 With that in mind, it is a good idea to revisit a ... Because our RevPAR will recover a lot better if these additional demands are converting on our own website rather than OTAs!
“As demand and occupancy comparisons become more difficult throughout the year, room rates become increasingly important in maintaining our current levels of RevPAR growth.” ... STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information.
On a local level, PKF-HR observed new records in metro-level lodging demand in 30 of the 50 markets covered by its Hotel Horizons® forecast reports. ... With supply suppressed, PKF-HR forecasts annual occupancy gains through 2015.
Typical of historical recovery sequences, lodging demand and occupancy levels bounced back strongly in 2010, followed by real increases in average daily room rates (ADR) in 2011. ... According to the December 2011 edition of Hotel Horizons® , PKF-HR is forecasting annual RevPAR levels for U.S. hotels to increase between 4.7 and 5.3 percent from 2012 through 2015.
The School of Business recognizes the significant opportunity to meet the demand by offering a new MBA with a focus in hospitality revenue management . ... and understanding booking windows, pace, demand, market share and channel predictions across market segments. 3.Formulate and monitor a revenue strategy for an organization.
Given the strong room demand experienced in the past two years, we expect modest demand growth of 1.3 percent, while rates continue their long climb back to prior peaks with growth of 3.8 percent." ... and demand (+2.0 percent) are both expected to report growth.
PwC's updated quarterly lodging forecast reflects an updated macroeconomic forecast released earlier this month from Macroeconomic Advisers, LLC, which expects economic growth in the US to continue to ... PwC's updated quarterly lodging forecast reflects an updated macroeconomic forecast released earlier this month from Macroeconomic Advisers, LLC, which expects economic growth in the US to continue to