U.S. hotel performance in the third quarter continued to be driven by rate growth and pricing power, but the dollar volume of hotel transactions is an indication that many buyers and sellers are staying on the sidelines.
Boutique hotels are performing well in 2022 and all classes show recovery in average rate and revenues, surpassing 2019 peak levels and leading the U.S. hotel industry.
The recovery of the U.S. hotel industry from the COVID-19 pandemic has progressed to the point that many hoteliers budgeting for 2023 can see some return to normal.
Hoteliers are naturally optimistic people, and often they don't want to admit that the economy or the overall demand environment might be souring on them until they absolutely have to.
Throughout the summer months, hoteliers held out hope that as the historically strong wave of leisure travel waned and seasons shifted, a long-awaited business travel rebound would be there to fill the gap.
Over the last couple of years, hotel profit-and-loss accounts have undergone quite a change in how they are analyzed.
NASA's Artemis program is not only an exciting start to the next stage in space exploration, it also opens new opportunities for hotels along Florida’s Space Coast.
The U.S. hotel industry continues to roll along in its recovery to and beyond 2019 performance levels.
Group business is beginning to pick up slowly, but capturing wallets and loyalty from this potentially profitable sector comes with a few extra challenges.
As guests have packed their bags and left home for summer travel following a few years of pandemic-caused pent-up demand, some travelers haven’t shown up in hotel occupancy figures.
With work and life patterns changing and the effect that has on travel, IHG Hotels & Resorts’ Elie Maalouf said he believes the hotel industry’s rate recovery is sustainable.
Thanks to surging demand, hotel rates have skyrocketed this summer, with some particularly hot markets, such as Hawaii and Florida, reaching record highs.
Packed planes. Sky-high airfare. An end to Covid testing for international arrivals. So much is going in airlines’ favor these days — except their share prices.
The U.S. travel landscape is approaching a more level, balanced field than it has in the years since the start of the COVID-19 pandemic, and hoteliers are determined to keep industry performance on a steady track, despite obstacles in the form of inflation and a possible economic recession.
On one day in April 2020, American airports were so empty that the TSA screened around the same number as it might have in the late 1960s—just under 90,000, a figure down 90 percent from the more than 2 million who’d breezed through regularly each day a few months earlier. It’s startling, then, to compare figures now: According to the TSA, commercial airports have gained back more than half of those pre-pandemic fliers, and private-jet flights stateside are up 9.5 percent over last year, per business-aviation analysts at Argus.
As economic pundits raise fears about a recession, the most powerful names in travel and hospitality are pushing back, pointing to bookings that illustrate a positive picture of the American consumer.
U.S. travel costs are soaring as demand reaches some of its highest points since the global pandemic began, a trend that shows little sign of stopping as summertime travel heats up.
American travelers are raring to go, and rising hotel prices aren’t stopping them. For evidence, see what Miami hotels are demanding on the weekend in early May when the Formula 1 racing series comes to town: The 1 South Beach is requiring four-night minimums at just under $4,000 a night, while the Hampton Inn in the city’s Brickell neighborhood is charging more than $400 a night.
Americans are paying more to put gas in their cars, but the impact on the hotel industry and the summer leisure season is likely to be minimal. Pressure to increase domestic oil and gas production, however, could lead to greater hotel demand from workers in that industry in certain markets.
A travel boom is coming.