STR launches Hotel Data Conference
Topics scheduled to be covered during the conference include: U.S. hotel industry forecasts from STR, PKF Consulting, and PricewaterhouseCoopers; consumer business and leisure travel; hotel demand and
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Sol Meliá Achieves Net Profits Of 51.2 Million Euros In 2008
Sol Meliá forecasts a difficult first half of 2009, particularly in business travel, accompanied by a slowdown in the resort business, somewhat offset by hotels in the Caribbean. ... Finally, Sol Meliá also restated its commitment to Sustainable Development, adding its voice to those of others demanding the development of a new global economic model with a vision for the future.
FelCor Reports Fourth Quarter Results - Exceeds High Guidance
Outlook Our business plan reflects a prolonged recession and continued deterioration of lodging demand through 2009, based on shrinking manufacturing output, rising unemployment and low consumer confidence ... These economic factors result in an unpredictable economy and makes visibility into future demand trends very limited and impacts our ability to accurately forecast RevPAR.
Great Wolf Resorts Reports Fourth Quarter 2008 Results Exceed Consensus Estimates
The outlook and earnings guidance information is based on the company's current assessment of business conditions, including consumer demand and discretionary spending trends, as of February 24, 2009. ... The forecast above assumes a first quarter 2009 same store RevPAR decline of approximately 10 percent and a full year 2009 same store RevPAR decline of approximately 5-8 percent.
Crowne Plaza Houston–Reliant Park Invests in ‘Smart’ Labor Management System from UniFocus
The upscale property aims to maximize service at the least cost by synchronizing labor with demand, utilizing powerful tools for automated forecasting and scheduling. ... Budgeter is the industry’s only true flexible budgeting platform with integrated forecasting that supports zero-based cost analysis.
Yield Management in 2009: How to Keep Your Hotel Up and Running in a Downturn
Yield management has always been a good idea for hotels, but one that recessed with years of record demand and record profits. ... The negative effects have led to some less-than-favorable forecasts for both lodging stocks and hotel operations in 2009.
Thrive. Don’t just survive. Top 12 Revenue Management Initiatives for 2009
After completing your forecast, your proactive revenue management team should focus on what actions need to be implemented to achieve or exceed the forecast. 3. ... After your realistic forecast is completed, a strategic revenue management team should review that forecast with the marketing team to identify need periods or opportunities.
Europe: Drop in Rack Rates Confirms Economic Slowdown | MKG Reports
With less demand, hoteliers offer more attractive tariffs. ... With less demand, hoteliers offer more attractive tariffs.
U.S. Hotel Profitability During Recessions | PKF Analysis
During this time period, the forecast calls for persistent reductions in employment and real personal income, the two most relevant drivers of lodging demand. ... As of January 27, 2009, PKF-HR is forecasting lodging demand to decline a cumulative 4.2 percent from 2007 through 2009.
Less Trade Fairs To Aggravate German Downturn | MKG Reports
“Germany particularly relies on the MICE sector, which is also forecasted to suffer this year. ... According to Panayotis, these destinations hosted a great deal of trade fairs, consequently boosting their demand and allowing hoteliers to raise average selling prices.
InterContinental Hotels gloomy on year ahead | reuters.com
InterContinental Hotels (IHG.L), the world's largest hotelier, said a marked fourth-quarter slowdown had continued into 2009 and demand was still easing, as it met forecasts with a 13 percent rise in 2008 ... hotel brands, said underlying revenue per available room (RevPAR), a key industry measure, fell 6.5 percent in the fourth quarter of 2008 and slid 12.2 percent in January, led by a steep decline in demand
Marriott International Reports Fourth Quarter Results
Fourth quarter Timeshare segment contract sales declined to $103 million reflecting weak demand. ... Softer demand across all product lines continued to constrain development revenue.
Marketing to Succeed in Difficult Economic Times
The latest Blue Chip Economic Indicators Report, a composite forecast of 52 economists, projects the worst recession since World War II with an upturn not beginning until late 2009. ... And in these recessionary times with slack demand that is a tough (some say impossible) proposition.
By Madigan Pratt, President, MP&A
2009 Shaping As Watershed Year For Asian Travel Industry
The dramatic softening of demand in the latter half of 2008 has set the tone for 2009, says Abacus International CEO and President, Robert Bailey. ... Abacus is forecasting a range of 7 - 9% decline in passenger booking numbers for the region.
2009 Industry Outlook: Tourism, Hospitality & Leisure | Deloitte
companies can expect to be under continued duress well into 2009, but smart hospitality organizations with innovative and cost-effective programs will be able to increase customer loyalty and drive demand ... The sustainability movement is being driven and shaped by forces outside of the industry’s control – among them sharply rising energy costs, increased regulatory pressures and growing consumer demand.
Hotels Cut Capital Spending | btnonline.com
Bjorn Hanson, an associate professor at New York University's Tisch Center, this month released a report forecasting a nearly 30 percent drop in capital improvements on U.S. hotels, down to $4 billion ... He attributed the drop to decreased demand, particularly in higher tiers with the most fees and surcharges, and reticence by hotels to introduce or increase those fees.
HSMAI University Presents 2009 Winter Webinar Series
The 2009 winter agenda includes: Forecasting in a Windstorm February 03, 2009 from 2:00-3:00 p.m. ... You haven’t seen a time like this before…so all the forecasting you’ve done in the past is out the window!
Revenue Management Doesn’t Take a Back Seat During a Downturn
Proactively Manage Booking Demand Forecast Most RM systems use a blending of historical demand and the latest booking trend information to develop a booking forecast. ... These demand forecasts are also heavily dependent on up to date and realistic group materialization rates and the latest advance booking window trends to generate improved forecasts of room inventory usage
SAS and IDeaS Address Revenue Managers’ Concerns at the Premier Business Leadership Series Conference
Executives are requiring up to the minute performance data, faster reaction times, and weekly or even daily budget forecasts. ... Focus group participants also discussed the need to move from demand management to demand sourcing.
1st meeting of the UNWTO Tourism Resilience Committee - Tourism can play a key role in stimulus programmes
The economic downturn - combined with increasing uncertainties, extreme market volatility and declining consumer and business confidence - took already its toll on international tourism demand as proven ... This set the pace for 2009 as economic forecasts are experiencing successive downward revisions adding to the existing uncertainty and confidence crisis.