Ask ten people what traveling the US looks like to them, and you’ll no doubt get ten different answers. It’s hiking in Yosemite, route 66 in a Cadillac, sundrenched Florida, pizza in NYC, and much, much more. It’s the boundless options that make the US one of the world’s top tourist destinations.
One of the most valuable assets of a hotel brand is information – detailed personal information about guests at their hotels, participants in their loyalty programs, and visitors to their websites. This information allows hotel brands to focus on creating guest loyalty, acquiring potential guests, engaging in effective marketing, expanding market share, and creating properties and services that entice and satisfy hotel guests. Because of this, hotel brands have long contended that they “own” hotel guest data and have unencumbered rights to use it, without respect to the interests of hotel owners and even the guests themselves.
With occupancy nearing the 70% mark and ADR levels approximately 4% above 2019 levels, the Denver lodging market achieved a RevPAR level in 2022 that was approximately $5 below 2019 levels. In line with the top 25 major metropolitan areas in the U.S., ADR has led the way in the recovery, with occupancy remaining below prior peaks.
The demand for travel during the American spring break timeframe is substantial—and demand remains strong despite higher prices. Let’s break down the expectations, pain points and opportunities for the industry.
Las Vegas’s 38.8 million total visitors in 2022 was roughly 91.3% of 2019 levels and only 4.1 million below the peak number of visitors in 2016. Gaming revenue for Clark County in 2022 was $12.8 billion, a new record for the market. Statistics from the Las Vegas Convention and Visitors Authority reflect 43.6 million total occupied room nights for Las Vegas in 2022, 20.6% more than in 2021. Occupied room nights, as well as total occupancy (79.2%), continued to lag 2019 performance, but the market’s ADR ($170.98) and RevPAR ($135.42) reached record levels in 2022. This article examines the latest trends and developments relevant to the Las Vegas hospitality market.
Being part of a hotel sales team is a challenging job. Quite frankly, being a hospitality professional – regardless of your scope – is no easy job. The hospitality industry is an ever-shifting, ever-demanding industry that twists and bends according to the whim of travelers, which, as you might have guessed, can be hard to satisfy. But as challenging as it may be, the hospitality landscape offers countless opportunities for personal and professional reward; there is something to be said about working within a landscape so firmly rooted in great service, tradition, and human connection and exploration.
Similar to the rest of the nation, hotel metrics in St. Louis plummeted in 2020 at the onset of the COVID-19 pandemic, but the market had entered a healthy recovery phase by the spring of 2021. Growth accelerated through the remainder of the year, fueled by a surge of leisure travel and the slow reemergence of commercial demand, as well as the return of conventions and major events.
The National Travel and Tourism Office (NTTO) recently released an international visitation forecast, its first since the onset of the pandemic. The forecast, which extends until 2027, projects that inbound travel will fully recover to pre-pandemic levels in 2025. This is consistent with U.S. Travel’s fall 2022 forecast. By 2027, NTTO projects that there will be 91 million international visitations, which is in line with the government’s recently-announced National Travel and Tourism Strategy.
The onsite restaurant is a hallmark of nearly any great hotel, with customer sentiments towards the former entity reflecting back onto property reviews and, ultimately, guestroom bookings. Within the F&B silo, we glorify the cuisine, the beverage selection, the wine cellar, the décor, the location and the executive chef, but rarely do the servers get their moment in the spotlight. And yet, like a triage nurse who first attends to a desperately ill patient entering the emergency room and is the lifesaving determinant ahead of any doctor’s intervention, server teams are the frontline for success in any hotel’s F&B operation.
Winning budget to replace your photo assets.
There is no denying that 2021 and 2022 were challenging years for the hospitality industry. While hotels remained shuttered and planes remained uncharacteristically desolate amid the COVID-19 pandemic, hoteliers and hospitality technology vendors contemplated the same question – what would the post-pandemic landscape look like, and when would it (finally) come into view? The long-awaited period of industry revival is now undeniably upon us, and hospitality brands have surged back to life as travelers worldwide look to make up for lost time.
The greater Tampa Bay lodging market is thriving, as evidenced by rising RevPAR levels, the entrance and subsequent absorption of significant new guestroom inventory, several high-profile transactions, and numerous exciting development projects in the market’s pipeline.
A recent Gartner report claims that by 2025, quite 50% of organizations around the world will have a cloud-based procure-to-pay suite. Tools like BirchStreet Pay are gaining traction as hotels learn more about the advantages and cost opportunities of using saving procurement solutions.
It’s a difficult lending environment across the nation at the moment, but RevPAR is expected to continue to rise in the foreseeable future, particularly supported by ADR growth. Debt, while very expensive, is available, and one lesson learned from the pandemic is the importance of sponsorship, including relationships with the brands.Below is the SWOT analysis for the U.S. hotel real estate and investment industry as outlined at the GF Hotels Forum in Towson, Maryland.
On February 12, Super Bowl LVII was held in Glendale’s State Farm Stadium with nearly 68,000 spectators. Attendance levels were just below the average for the last eight Super Bowls (excluding the COVID-19-affected year of 2021) and below the 2015 game’s 70,288 attendees, also in Phoenix. However, this year’s event did not disappoint the hotel industry in Greater Phoenix.
Suppose I asked you to conjure up an image of a ‘tech hub.’ In that case, I imagine your mind might place you in the streets of Silicon Valley, rife with sprawling university-like tech campuses and unicorn start-ups causing a stir amongst technologists, investors, and consumers. Perhaps, your mind may jump to other global leaders in tech, such as London, UK, Beijing, New York City, or even Tel Aviv – but would Canada make that list? It certainly should.
Hotels are a vital part of New York City’s economy, accounting for approximately $13 billion of revenue per year. In recent years, however, the City Planning Commission has adopted certain amendments to New York City’s Zoning Resolution in an attempt to curtail hotel development. These changes have been top-of-mind for owners and developers involved in the New York City hotel real estate market.
In an effort to dig deeper into the traveler experience and identify barriers and points of friction that keep travelers at home or traveling less frequently, we launched a new quarterly consumer survey with Ipsos at the start of the year.
In the span of three years (2019–2021), travelers in the US saved nearly $50 billion on lodging, regardless of how they booked it. This is but one of the conclusions to draw from a recent study by Oxford Economics titled: The Economic Impact of Online Travel Agencies in the United States.
Nicknamed “the Magic City,” Miami has maintained its position as a world-class destination despite the national economic challenges experienced since 2020. At the height of the pandemic, Miami’s favorable weather and relaxed restrictions attracted new residents and businesses from all corners of the country and the world. In the post-pandemic era, the greater Miami area remains a top U.S. market. In 2022, hotels in this market realized year-over-year growth in all metrics across each submarket. Furthermore, new hotel supply continues to be added, with numerous recently opened hotels and countless proposed developments.