Opinion Articles

February 15, 2023

Resurgence and Transformation of the Canadian Niagara Falls Hotel Market

The Niagara Falls lodging market is rapidly recovering after the devastating pandemic-induced RevPAR decline of 72.9% in 2020. The market-wide RevPAR has reached 98% of the 2019 level in 2022 and is projected to reach 110% in 2023. ADR growth is leading the recovery. The cityscape is also poised for transformation over the next ten to twenty years through the addition of high-rise upper-upscale and luxury hotels, many as part of mixed-use developments.

By Monique Rosszell, Jingjianxiong Shi, and Luc Espaillard

Canada

Opinion Article Human Resources

February 14, 2023

Detroit Lodging Market: On the Road to Recovery

The Detroit hotel market continued an upward trajectory in 2022 following a strong 2021. As illustrated below, RevPAR growth was driven by increasing average rates, with ADR exceeding pre-pandemic levels. Strong ADR levels were driven by Detroit’s tourism industry, which has shown the greatest recovery following the severe downturn in 2020 and early 2021. Visit Detroit reports that visitation numbers since the second quarter of 2022 have approached the pre-pandemic levels of 2019. However, occupancy growth has lagged the average for the U.S. and other top 25 markets in the Midwest, such as Indianapolis, Chicago, and St. Louis. This trend is primarily due to a slower recovery within the commercial segment, as workers have yet to return to offices in full force and international travel remains low.

By Brandon Leversee and David Preiss

Detroit, Michigan, United States

February 14, 2023

Three Key Takeaways from the Travel and Tourism Research Association's Marketing Outlook Forum

Jamie Mageau recently had the pleasure of attending the Travel and Tourism Research Association’s Marketing Outlook Forum in Houston with over 200 industry researchers, marketers, vendors and partners.

By Jamie Mageau, Director of Research Products, U.S. Travel Association

Opinion Article Human Resources

Opinion Article Finance

February 10, 2023

Exploring the Benefits of Switching to E-Payments

It's no secret that e-commerce has experienced a rapid surge over recent years, reaching a nearly 50% user penetration rate for digital commerce in 2020, and more skyrocketing growth throughout and following the COVID-19 pandemic.

BirchStreet Systems

Newport Beach, Florida, United States

February 9, 2023

Jobs Report Exceeds Expectations, Led by L&H Boost

The first jobs report of 2023 overshot expectations. Overall, the economy added a staggering 517,000 jobs in January—far higher than the 187,000 increase that was expected—and the unemployment rate fell to 3.4%, its lowest since 1969.

By Aaron Szyf, Economist, U.S. Travel Association

Opinion Article Technology

February 7, 2023

How Data Plays Into Crafting the Personalized Guest Experience

Do you ever wonder how Netflix or Amazon find the perfect content or products for you when you log on? These industry leaders have cracked the code to keep customers coming back through data-driven personalization—using unique customer insights to recommend the ideal products or shows that are perfect for them.

By Brett Thoreson, Co-Founder & CEO of CartStack / RezRecover, RezRecover by CartStack

Barrie, Ontario, Canada

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Hospitality Financial and Technology Professionals (HFTP)

February 3, 2023

U.S. Real Estate Market Outlook 2023

High interest rates and a recession will make 2023 a challenging year for commercial real estate. Though inflation eased in late 2022, it was still running at more than 7%. The Fed will continue raising rates until it sees a marked reduction in inflation nearer to its 2% target. Weakening fundamentals and higher cost of capital will generally lower asset values.

By Richard Barkham, Ph.D., Global Chief Economist, CBRE Hotels

February 3, 2023

Recent Trends in Washington, D.C.’s Luxury Hotel Market

According to data compiled by STR, in recent years, the luxury segment has fallen 2–5% behind the Washington, D.C. market average in occupancy, while luxury rates have paced roughly $150 to $200 above average. This rate difference is largely due to a few luxury hotels that perform at a higher rate threshold than the remainder of the luxury class, including the Four Seasons, the Waldorf Astoria, both Ritz-Carlton properties, the Hay Adams, and the St. Regis. These higher-rated hotels make up 15% of the total luxury room supply in the District.The 2022 market-wide operating performance for District of Columbia hotels was roughly 62%, at an ADR of just above $240. The 2022 RevPAR falls more than $20 below the 2019 level. The luxury hotel segment, which comprises around 30 hotels, also did not fully rebound to the historical 2019 RevPAR levels in 2022. However, ADR for this segment grew to roughly 115% of the 2019 level.

By Chelsey Leffet and Caroline Dioso

Washington, District of Columbia, United States

February 1, 2023

The Magic Returns to the “Happiest Place on Earth”: Recent Trends and Outlook for the Anaheim-Santa Ana Lodging Market

When Disneyland Resort, Anaheim’s crown jewel, was forced to close in 2020 at the onset of the COVID-19 pandemic, area hotels faced some of the greatest demand losses in the nation. The park system welcomed back its local fanbase in 2021 with the introduction of a new reservation system. Once Disney attendees were more familiar with the park’s new reservation system, which requires advance planning and makes it more difficult to book same-day tickets, leisure demand rebounded, spurring double-digit ADR growth in 2021 and 2022.

By Kirsten Smiley and Eileen Bosworth

Anaheim-Santa Ana, California, United States

January 31, 2023

CBRE Forecasts Enhanced RevPAR Growth in 2023 Despite Economic Headwinds

Despite projections of persistent inflation and a moderate economic recession, CBRE’s November 2022 Hotel Horizons® forecast calls for a 5.8% increase in rooms revenue per available room (RevPAR) in 2023. This is up from CBRE’s previous forecast of a 5.6% increase in RevPAR for 2023.

By Rachael Rothman and Matt Mowell

January 31, 2023

As Surfing Popularity Rises, Plans For Surf Parks Surge

The popularity of surfing has grown significantly in recent years, especially in the United States. According to a study published by the Sports & Fitness Industry Association (SFIA), the number of surfers has increased by more than 35% in less than a decade. The survey also found that surfers live all across the country, even in landlocked states far from the coasts.

By Stephen Szczygiel, Senior Associate, Hotel & Leisure Advisors (H&LA)

Opinion Article Finance

January 31, 2023

ALIS Kicks off 2023, with Most Expecting the Year’s Best Days to Come in the Second Half of the Year

Another ALIS is in the books, and a busy one at that, with nearly 3,000 in attendance. If you weren’t one of those lucky thousands, here are our takeaways.

By Rodney Clough, President - HVS Americas, Denver, HVS

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Hospitality Financial and Technology Professionals (HFTP)

Opinion Article Technology

January 26, 2023

Destination HITEC® 2023: Toronto

They say the only guarantees in life are death and taxes, but if you work in the hospitality technology space, at least one other certainty exists - the annual meeting of the minds that is HITEC®. For over 50 years, the Hospitality Industry Technology Exposition and Conference (HITEC) has become an industry staple, giving attendees a unique opportunity to witness new product launches and innovations while listening to expert panels, partaking in exclusive education sessions, and, of course, networking with industry peers. Hailed as the industry’s premier technology event, HITEC attracts attendees, exhibitors, and sponsors from around the globe. This year, the renowned conference is heading north to set up shop in Canada’s most glamorous hotspot - Toronto. And yes, that is where Drake and The Weekend are from!

By Alan Young, VP, Strategy | Hospitality, Infor

Barrie, Ontario, Canada

January 26, 2023

The Seattle Convention Center Enters a New Era

On January 25, 2023, the Seattle Convention Center (SCC) is debuting the completion of its expansion, known as Summit. The building, which has been under construction since 2018, nearly doubles the capacity of the convention center facilities. The existing building, Arch, features 432,988 total square feet, while Summit features 573,770 square feet, including a 14,000-square-foot Garden Terrace.

By Breanna Smith, Senior Vice President, Portland, HVS

Seattle, Washington, United States

January 25, 2023

Do Sports Entertainment Districts Make A Difference?

Stadium entertainment districts have been gaining in popularity since their inception in the early 2000’s. They can generate revenue for teams, enhance the event experience for the attendee, and generate increased tax revenue for cities. However, does the existence and creation of districts encourage the development of entertainment amenities around arenas and stadiums, and does it encourage the usage of these amenities before and after events? HVS tested these hypotheses using data from ESRI, Placer.ai, and the University of Michigan.

By Anthony Davis, Senior Director at HVS Convention, Sports, & Entertainment Facilities Consulting in Chicago, Illinois, HVS

Opinion Article Wellness & Wellbeing

January 19, 2023

Southwestern Utah is Booming, Attracting National Investor Interest

Southwestern Utah provides robust outdoor recreation opportunities, with some of the most dramatic landscapes in the world. Washington and Kane counties, located in Southwest Utah, have experienced robust economic growth since the onset of the COVID-19 pandemic in 2020 given the presence of two national parks—Zion National Park and Bryce Canyon National Park—in addition to several well-known state parks, such as Sand Hollow State Park and Coral Pink Sand Dunes State Park. The popularity of outdoor recreation areas soared during the pandemic, and the region benefited from this trend.

By Lauren Reynolds, Vice President, Salt Lake City, HVS

Utah, United States

January 17, 2023

Hospitality to Health Renaissance: Innovative Community-Based Healthcare Strategies that can have Positive Implications to Lodging and Restaurant Operations

This paper provides some community-based creative solutions bridging Hospitality to Healthcare - putting the “heart back in healthcare” to improve the health and well-being of the community. These innovative programs provide a blueprint for high performance and practical health benefits. These programs cover a wide array of tactics that are practical fixes for health care systems. The health models presented in this paper are adaptable to other geographical regions and are brilliant beacons for health that can succeed and impact other communities.

By Fred DeMicco and Suzi Mariano

January 13, 2023

Major Hotel Investment Sales in Q4

Heading into a new year, the U.S. commercial real estate industry finds itself in choppy waters amid fears of a recession, rising inflation, and interest rate hikes as market participants await a course correction. Challenges during 2022 including continued supply chain constraints, increasing labor costs and struggles in attracting talent are anticipated to endure through 2023. Combined with international and domestic geopolitical issues and market volatility, many believe during the near term, the U.S will experience a mild to moderate economic recession.

By Daniel Lesser, President & CEO, LW Hospitality Advisors LLC (LWHA)