as well as market level forecasts for the top 25 US markets. ... The firm also covers EMEA markets via a partnership with HotStats with hotel market profitability forecasts.
Between January 1989 and March 2016, the market was affected by three national recessions, which produced some dramatic dips in demand. ... Nevertheless, hotel demand did not suffer as much as during the previous two recessions.
The second largest employment destination in the state, Parramatta was recently named the most livable suburb in NSW and is forecast to grow in population by 40 per cent by 2031. ... This has created a gap in the market as the demand increases for luxury hotel-style serviced apartments in Sydney and Australia," Mr Sunito said.
In addition, running natively in a browser on both desktop and tablet devices, it delivers real-time operating metrics so that hotels can more accurately forecast demand and scale guest services accordingly
Based on daily data from April, London reported the following in year-over-year comparisons: increases in both supply (+2.3%) and demand (+1.7%); a 0.7% decrease in occupancy to 80.0%; a 0.9% increase ... The May edition of STR's Market Forecast will be available at the end of the month.
Based on daily data from April, Dubai reported the following in year-over-year comparisons: increases in supply (+6.1%) and demand (+5.2%); a 0.9% decrease in occupancy to 79.7%; a 15.4% decrease in average ... The May edition of STR's Market Forecast will be available at the end of the month.
Based on daily data from April, Singapore reported the following in year-over-year comparisons: increases in supply (+2.5%) and demand (+7.5%); a 4.9% increase in occupancy to 83.2%; a 0.8% decrease in ... The May edition of STR's Market Forecast will be available at the end of the month.
According to STR analysts, Melbourne's performance was largely driven by a shift in corporate business demand due to Easter falling in March this year. ... The May edition of STR's Market Forecast will be available at the end of the month.
Based on industry analysis, the new offering tailors solutions for affiliates through enhanced reporting, forecasting and tracking and pricing and yield management capabilities. ... The service also helps improve customer satisfaction through optimized supply-demand alignment and consumer behavior predictions and provides ongoing training for in-house inventory management staff.
Fitch is not forecasting a U.S. recession through at least 2017 and it would be unprecedented for lodging to enter a downturn without one. ... Fitch lowered its 2016 US GDP forecast to 2.1% in March from 2.5% at Dec. 31, 2015.
Ira Vouk gives a short, insightful interview here, with 3 clear tips for revenue management tactics : Dynamic pricing: Truly flexible prices, based on current demand Non-pricing strategies: This involves ... He says, "We should not have data discrepancies between our finance systems, PMS, forecasting systems, and CRM… The roles in organizations have changed and so have the responsibilities."
The Middle East travel industry is forecasted to rise to $98 billion by 2017, from $71.8 billion in 2014, according to Phocuswright. ... With an emerging middle class looking to travel both within the region and internationally, and an increase in inbound business, leisure travel and tourism, there is growing demand for mid-market and budget
Prevalently, consumer demand by far determines tourism trends not only in Africa but also globally. ... A report by Regional Economic Outlook forecasted growth in sub-Saharan Africa to remain strong, at about 5 percent in 2014 and 5¾ percent in 2015.
Birch adds, "Part of the importance of revenue management is knowing about demand across all channels, for example, to prevent additional demand stimulation over a highly compressed citywide convention ... In addition, when a hotel's marketing team leverages revenue management data, they can better: Address forecast periods of low demand with highly targeted, segmented email marketing campaigns Mitigate
From the Bustling City of Shanghai to the Sunny Coast of Florida With momentum steadily building for the one year old brand, Tribute Portfolio once again answers consumer demand with the addition of three ... I expect the brand's global expansion to continue accelerating way beyond the most optimistic of forecasts."
As much of this type of data itself is also forecasted, this introduces an additional source of error to the demand forecast. Do you trust your weatherman to accurately predict your hotel forecast? ... This is a great example of how to use your customer-centric data for forecasting demand as a function of price, when demand is also a function of your online reputation performance.
Focusing on the mid-market sector in response to the demand from budget-conscious travellers, HMH has outlined an ambitious expansion strategy to grow its footprint in Oman. ... Laurent stressed, "Oman saw inbound tourism numbers rise by an average of 7.4% per annum in the last decade and is targeting 12 million visitors annually by 2020 which is fueling the demand for quality
S/he spends critical time manually updating spreadsheets with PMS reports, reviewing the forecast a minimum of 90 days in the future for any immediate changes to hotel pricing. ... After this daily review, it can be an optimal time to check in with the general manager, front desk and operational teams to communicate any relevant changes to forecasts and pricing.
Oman saw inbound tourism numbers rise by an average of 7.4% per annum in the last decade and is targeting 12 million visitors annually by 2020 which is fueling the demand for quality mid-market hotels. ... Oman Ministry of Tourism has forecast hotel room capacity to expand at an annual growth rate of 5.3% over the next four years while tourism is expected to contribute 5% to the country's GDP by 2020.
It is important to note that this result is very close to the anticipated index score of 94.6, which was forecasted in the last quarter. ... From an inbound tourism perspective, strong overseas leisure demand and the weak exchange rate remain the most prominent positive contributing factors.