Travel Data Center in 1973, has written extensively on research methods, tourism's economic impact and tourism forecasting. ... His latest book, Forecasting Tourism Demand: Methods and Strategies, discusses 13 methods of forecasting hotel demand. Dr.
The recent Bear Stearns report rightly reported that Six Continents appears to be planning for the time when demand for hotel rooms improves. ... They also need mechanisms to shift the room mix to higher prices (lower price-elastic) business demand as that segment returns from recession.
Leisure travel demand has shown more resilience, although this segment is also below historical demand levels. ... The Boston, Houston and Los Angeles hotels continued to experience relatively soft demand.
Chart: Historical and Forecast Lodging Demand Compared to the Long-Run Trend Sources: PricewaterhouseCoopers (forecasts from 2002 Q4 to 2004 Q4; long-run demand trend line), Smith Travel Research (historical ... demand data).
The risk forecasting techniques, security management and containment strategies they use have aspects that can be directly transferable to hospitality security management. ... We hope that these technological snapshots will be hotelier's future, even if the demand on their part isn't yet formulated.
Lauderdale and Phoenix -- which account for approximately 40% of our owned room portfolio, continue to face lackluster demand," said Mr. Cash. ... Forecasting beyond 2003 is a difficult exercise given the limited visibility and uncertainties affecting the lodging industry.
Operations Outlook We forecast that our first quarter 2003 year-over-year RevPAR comparisons will remain above last year's levels. ... Most of our hotels are located near a state capitol, university, convention center, corporate headquarters, office park or other stable demand generator.
RevPAR growth of 1.8 % is forecast for the Provinces. ... The latest Alert forecasts for: Revenue per available room (RevPAR) - is a key performance metric used in the hotel industry which reflects demand.
Based on our operators' forecasts, we currently are targeting RevPAR of negative 4 percent to negative 1 percent for the first quarter 2003 compared to the first quarter 2002, and for the full year 2003 ... New room supply continues to decline, setting the stage for a rebound when the recovery does arrive and demand increases."
In particular, forecasts suggest that at the national level, a war lasting approximately one quarter during the first half of 2003 would reduce expected RevPAR growth during the second quarter of 2003 ... Marriott International, Inc. - 2003 OUTLOOK Based on continued soft demand trends, but without factoring in the impact of any possible conflict in Iraq, we currently estimate REVPAR in 2003 to be roughly
Lodging profits reflected weak demand for hotels and executive apartments. ... Lodging demand strengthened in Asia and the United Kingdom. Marriott's timeshare business reported five percent higher contract sales in 2002.
Manager at The Shilla Seoul, explains, "We were looking for a solution that is not only easy to understand but also easy to use - and still offers very detailed information like accurate market segment forecast ... Optims.RMS checks the demand by analysing the past and then forecasting the future. Thus hotel achieve the best available revenue and maximise their profits - usually by at least 4 to 8%.
FelCor's operating results for the fourth quarter and full year 2002, reflect weak lodging demand related to the continued softness in the nation's economy and uncertain political environment. ... Full Year 2002 Results: Total revenues for 2002 were $1.3 billion, or 8.7 percent below 2001 pro forma revenues, principally related to weak lodging demand and the decrease in RevPAR for FelCor's hotel
"While there has been a drive toward consolidation and mega-operators, there remains a very vibrant demand for mid-sized, independent operators. ... Despite forecasts for a continued difficult operating environment in 2003, the company's management portfolio is expected to post a revenue per available room improvement in 2003.
"Northern Ireland, and especially Belfast, is an extremely demanding market place, with new hotel openings adding constantly to the competitive environment" states Mr. Hastings. ... As far as I can gather from our own extensive research, the main RM vendors today utilise almost identical tried and tested algorithms behind their forecasting and optimisation models.
for lodging products in the overall lodging industry, and improvements in demand for the Company's extended stay lodging. ... While the Company believes that improvements in the U.S. economy will result in increased demand for its products, it is difficult to assess the timing and magnitude of such improvements.
NEW YORK--Last year, on February 4, Ernst & Young's Hospitality Services Group announced its 2002 National Lodging Forecast and called the year the "Perfect Storm" for the hotel industry. ... Ernst & Young's 2003 National Lodging Forecast released today analyzes 2002 and predicts the industry's future for 2003.
These budgets will need to increase in efforts to maintain or stimulate demand and market share. ... PricewaterhouseCoopers Hospitality & Leisure research specialists develop lodging industry forecasts using econometric models.
PROS HROS incorporates the most powerful and advanced optimization and forecasting methodologies available. ... Coupled with PROS scalable architecture and thin client implementation, proven in the demanding world of large-system airline revenue management, PROS Hotel Revenue Optimization System represents a quantum
Meeting planners in the U.S., Canada and Europe project an overall average budget decrease of 1.1 percent in 2003 vs. 2002, while forecasting a positive 1 percent average growth in how many meetings they ... "Face-to-face meetings are here to stay, but a soft economy combined with organizations demanding less financial risks when booking, plus new technologies all mean the industry must adapt to change.