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May 10, 2023

7 Surprising Trends That Will Change The Way Hotels Handle Groups and Events Business

Bullish Forecasts According to Knowland, groups and meetings business is forecasted to recover to 106.4% of 2019 levels in 2023, and Amadeus reports that 64% of event professionals say their spending increased ... While the industry continues to evolve, it is clear that there is a growing demand for in-person events, and hotels and venues are finding innovative ways to meet this demand despite the challenges they

By Daniel Melnyk, Founder and CEO, Parclane

Opinion Article Markets & Performance

May 10, 2023

Travel Trends and Supply Changes for the Hawaii Lodging Market

This spur in domestic travel supported a strong recovery in hotel occupancies, with demand rebounding to roughly 90% of pre-pandemic levels statewide. ... Demand Outlook Going forward, demand levels are expected to continue to improve on Oʻahu, particularly as international tourism picks up.

By John Berean, Senior Project Manager, San Francisco, HVS

Hawaii, United States

Press Release Sales & Marketing

May 9, 2023

Global Hotel Alliance Kicks-Off 2023 in Growth Mode as New Hotels Join Portfolio and Q1 Results Prove Travel is back to Pre-Pandemic Highs

to 2019 levels in Q1 Total revenue hits US$550 million for the quarter, up 127% on 2021 International stays surpass pre-pandemic figures since November Cross-brand revenue hits US$61m in Q1 and is forecast ... This has ignited a cross-brand revenue surge to reach US$61 million in Q1, with the full-year forecast now upwardly revised to $260 million, up from $168 million in 2022, which was already 25% ahead of

Global Hotel Alliance (GHA)

Opinion Article Markets & Performance

May 9, 2023

U.S. Major Market RevPAR Rebounds in 2023

Supply and Demand Dynamics CBRE is forecasting national demand to increase by 2.7% in 2023. This will push demand above 2019 levels by the end of the year. ... New York, Washington, D.C., San Francisco, Minneapolis, and Chicago are forecast to experience the greatest change in demand during 2023, all well above the national forecast of 2.7%.

By Lindsay Dyer, Senior Research Analyst, CBRE Hotels

United States

Supplier News Human Resources

May 9, 2023

Arch Amenities Group Introduces Wage Insights, a Tool that Provides Salary and Wage Benchmarking Data for Hotels and Wellness Centers

Wage Insights reports include comprehensive visual tools to support the budgeting and forecasting process. ... Tompkins added that as demand for wellness services and amenities increases, we know that more informed recruiting practices lead to better talent acquisition and propel business forward, adding: The Wage

Arch Amenities Group

Press Release Finance

May 5, 2023

Hotel Industry Update – latest presentations now available at HotelLawyer.com

Outlook Overview and Market Forecast Highlights . ... Lodging Industry Outlook: Demand, Debt and Deals .

JMM

United States

Press Release Development

May 5, 2023

New Project Announcements and Record Early Planning Project Counts Fuel Canada’s Hotel Construction Pipeline

Accelerated by the return of travel demand, new project announcements (NPAs) in Canada saw significant growth in the first quarter. ... In 2024, LE analysts expect a 1.1% increase in room supply with 68 new hotel projects/4,048 rooms forecast to open by year-end.

Lodging Econometrics

Canada

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The next-gen metrics that move hotel P&L

Hotel tech has changed what's possible – and measurable. RevPAR and ADR aren't enough; discover the metrics that really matter.

Mews

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Tambourine

Opinion Article Markets & Performance

May 5, 2023

Kansas City’s Flourishing Demand Generators Bolster Hotel Interest

Conclusion A strong recovery of demand since the COVID-19 pandemic, several large developments, and a number of scheduled events all contribute to an optimistic forecast of demand in the Kansas City market ... For detailed forecasts or to inquire about a specific hotel project, contact Benjamin Giebler or Dan McCoy of the HVS St. Louis office .

By Daniel McCoy and Benjamin Giebler

Kansas City, Missouri, United States

Ad Tambourine One

All you need is one.

Some call it a website with a booking engine built in. Some call it a booking engine with a website built in. We call it One.

Tambourine

Supplier News Sales & Marketing

May 3, 2023

ABS Performance Results Are In

True Availability TM is a determination and forecast of the real operational availability of specific rooms at any given time. ... Specifically, this means that the price of, as an example, a balcony, will vary based on availability, demand, persona, other attributes selected and more.

ROOMDEX, Inc.

Press Release Finance

May 2, 2023

Hotel Transactions See 18% Decline in 2022 as Interest Rates Surge

flow was further hindered by substantial interest rate rises and reduced lender activity, while rising operating costs, brought on by double-digit inflation and staffing shortages, impacted profit forecasts ... While access to financing through high-street lenders remains subdued, alternative financing options are on the rise, servicing some of the demand in the sector. Matthias Hecht

HVS

Press Release Markets & Performance

May 1, 2023

U.S. Travel & Tourism sector set to reach record-breaking high this year says WTTC

Travel & Tourism sector is forecast to exceed the 2019 peak this year. ... The Travel & Tourism sector in the U.S. is recovering strongly with strong visitor demand.

WTTC

United States

Opinion Article Finance

May 1, 2023

2022 European Hotel Transactions

Hotel trading was, however, generally well supported by strong top-line growth that reaped the benefits of saved disposable income during the pandemic and very strong demand for leisure travel. ... However, alternative financing options are on the rise, servicing some of the demand in the sector.

By Shaffer Patrick, Matthias Hecht, and Serena Yang

Opinion Article Sustainability

April 27, 2023

Sustainability: The Conversation We Need To Have With ChatGPT Today

For example, AI-powered demand forecasting systems can help airlines optimize their flight schedules, reducing fuel consumption and carbon emissions. 3. ... The system uses machine learning to predict energy demand and adjust energy usage accordingly, reducing carbon emissions and energy costs.

By Kamesh Shukla, EVP-APAC & MEA, RateGain, RateGain

Press Release Development

April 27, 2023

U.S. Hotel Construction Pipeline Increases in All Project Stages Year-Over-Year

This is the fourth consecutive quarter of total pipeline growth for the U.S., which can be, in part, attributed to the robust recovery of travel demand. ... For the remainder of the year, LE forecasts another 493 new hotel projects/59,355 rooms to open, representing a combined 1.3% supply growth rate in 2023.

Lodging Econometrics

Supplier News Markets & Performance

April 27, 2023

2023 Hotel Online Distribution Trends: Europe & Asia -

This year, Europe is forecasted to fully recover, bolstered in part by strong demand from the US. ... In Asia, despite continued low demand, hotels managed to increase ADR by 6%.

Opinion Article Technology

April 25, 2023

How Technology Has Revolutionized the Hospitality Industry

Operators have deep data pools to complement their market experience while making forecasts. Technology has had an equally profound impact from a team member’s perspective. ... Technology platforms now allow employers to offer on-demand pay for a nominal fee.

By Andrew Carey, Chief Executive Officer, Newport Hospitality Group

Press Release Development

April 25, 2023

Ascott Rides on Travel Rebound with Opening of 70 Properties Globally in 2023

The launch of these properties comes at an opportune time as Ascott recognises the need to address emerging trends in today’s post-pandemic travel landscape, marked by evolving traveller demands and renewed ... The brand will play into the demands of discerning and seasoned travellers who have a taste for fine living and are seeking understated luxury as part of their travel itineraries.

The Ascott Limited

Press Release Development

April 24, 2023

Hospitality Asset Managers Association (HAMA) Announce Spring 2023 Conference Industry Outlook Survey Results

“Though labor, cost increases and demand are issues to consider, overall, our members appear incredibly optimistic regarding the industry’s near-term future. ... Highlighted results include: The top three issues concerning hotel asset managers are wage increases (65%), labor availability (57%) and demand (52%).

HAMA USA

Opinion Article Sales & Marketing

April 21, 2023

Economic Uncertainty Be Damned, Revenge Travel is Unstoppable!

Early 2023 Travel Demand Forecasts Under the Microscope, and the Numbers are Staggering! ... Our early market indicators show that pent-up travel demand is growing in 2023.

By Filipa Campos, Director of Sales EMEA, GuestCentric Systems

Opinion Article Development

April 21, 2023

Does opportunity knock for hotel investors?

At the same time, strong demand from the US, backed by a strong US dollar, will continue to benefit destinations in the region and beyond. ... Inflation is likely to have an impact on demand and is certainly having an impact on supplies.

By Alex Sogno, CEO, Global Asset Solutions