They want the ability to retrieve an entire session via an on-demand application later that day or next week or next month. ... But today, the demand on meeting planners in this area is either coming from bottom up—from attendees—or from the top down—from executives.
Mark Woodworth, president of PKF Hospitality Research, said that his analysis forecasts weak demand through 2009, with a recovery in 2010. "Two factors are amplifying this demand weakness," he noted. ... PKF forecasts that hotels will lose approximately 1.0 percent of demand in 2009 due to airline capacity cuts. Unlike past downturns, however, the industry is not awash in excess supply additions.
Online Travel Overview Eighth Edition presents comprehensive analysis and forecasts of the U.S. total and online leisure/unmanaged business travel market. ... Online Travel Overview Eighth Edition presents comprehensive analysis and forecasts of the U.S. total and online leisure/unmanaged business travel market.
At affordable rates, these segments have the capacity to induce substantial room night demand and an aggressive marketing strategy aimed towards these segments will help in substitution of demand lost ... Post sub-prime, at revised GDP growth forecast of 6.0% to 7.0%, India will still be one of the fastest growing economies in the world and commercial travel will continue providing the necessary base demand
Fontainebleau recently deployed IDeaS V5i On-Demand revenue management solution equipped with the Best Available Rate (BAR) module and Group Pricing Module. ... Since all channels receive IDeaS decisions simultaneously, our selling strategies can react in real-time to unanticipated changes in demand or our competition.
While China is experiencing strong demand for international and domestic tourism, however,” Professor Chon cautioned, “the country is not immune to external and internal factors affecting the tourism industry ... It is also forecast by UNWTO that China will become the first destination in the world by 2020 and the fourth largest source market.
The use of forecasting tools and proper control of availability are invaluable to the overall health of the property. ... Rate Strategy : Previous economic downturns have taught us that reducing rate in the face of occupancy decline does not attract more demand.
Although overall travel demand will suffer, these trends will drive more business online in 2009." ... PhoCusWright forecasts that half of travel in the United Kingdom and Scandinavia will be booked on leisure/unmanaged business travel sites by 2010.
MCLEAN, VA | The travel industry is beginning to feel the impact of the economic crisis, and 2009 travel forecasts predict both leisure travel and business travel will decline. ... ., Clinical Professor, Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management, NYU Key takeaways: Macro trends and how they relate to the current marketplace; How to outline a forecast
The majority of the experts gathered in Pisa believe that demand for international travel will be down by about 1% in 2009. ... But the overall monthly average fell from +6% in January to April to just +1% in May to August, reflecting the impact of the credit crunch, high oil prices and the financial crisis on demand.
The industry is surprised at the level of demand weakness; the combination of demand weakness and supply growth will cause the U.S. occupancy rate to approach 58 percent in 2009, the lowest occupancy rate ... Statler Professor, put a variety of questions to the panel concerning the availability of capital, the forecast for economic recovery, and the valuation of real estate.
. -- The National Business Travel Association (NBTA) today released its 2009 Business Travel Overview & Cost Forecast predicting increases in business travel costs and slower than usual travel industry ... To develop the 2009 Business Travel Forecast, NBTA fielded an online survey of U.S.
Asia and the Pacific’s growth (+4%) is also well behind its 2007 level, with Oceania and North-East Asia suffering the brunt of the downturn in demand. ... A detailed forecast for 2008 and 2009 for the world and by region is included in the current issue of the UNWTO World Tourism Barometer.
With the economic situation deteriorating throughout fall 2008, most U.S. travel companies are now grappling with declining demand and uncertainty for the future. ... The online travel market remains a bright spot in a dismal forecast, though its glow is dimming.
“The US economy is experiencing an accelerated downturn, leading to weaker consumer spending and tightened restrictions on corporate travel, which has affected lodging demand. ... We continually examine each hotel in our portfolio to address issues of market supply, demand patterns, ongoing capital needs and concentration of risk.
Asia-Pacific is also starting to feel the global financial crisis and is forecasting delays in plans for as many as 90,000 new hotel beds in the region. ... Thanks to ‘easy money,' booming markets in this region over the last years have experienced rising demands for corporate staff, particularly in Development and Technical Services.
Guest room demand is the major culprit at –0.3% year-over-year growth at the end of Q2. Demand growth is likely to be negative for the year, an unhappy consequence and a rare happening. ... In the near term, there will be the appearance of overbuilding because of a widening supply/demand imbalance. In reality, it is not overbuilding but the collapse of demand growth, a rare occurrence.
“Despite the expected 6.9 percent fall in demand, New York hotels are still forecast to achieve a very high occupancy rate of 77.3 percent in 2009.” ... Beyond 2009 Come 2010, the relevant economic indicators are forecast to begin to drive lodging demand upward.
As the economic downturn starts to take hold across many countries, a downward turn in demand for travel is starting to affect many travel companies worldwide. ... He highlights the example of Ford Motor cars who predicted many months ago that a downward turn in demand was on the cards and so cut capacity and stopped discounting their prices.
HENDERSONVILLE, Tennessee | Smith Travel Research released its revised 2008 and 2009 forecasts and its projections for the U.S. hotel industry’s performance in 2010. ... a 0.4-percent increase in revenue per available room from year-end 2007 to $65.75; and a 2.5-percent increase in supply and a 0.5-percent decrease in demand.