U.S. hotel performance declined from the previous week but showed mostly positive comparisons year over year, according to CoStar’s latest data through 12 August.
While wage negotiations are always at the center of hiring, recruitment and retention, hotel leaders said young employees are also being more direct with their expectations of a career trajectory in the industry.
According to Expedia, flight searches for fall are up 15%, and hotel searches increased 20% compared to fall 2022.
CBRE Lending Momentum Index’ Declines 5.4% From Previous Quarter
The current number of reservations being made to Portuguese hotels is 21% above 2019’s record-breaking volumes, and Portugal leads neighbouring Spain, France and Italy for comparative booking momentum.
Hotel demand growth declined 1.5% in June while short-term rental demand rose 14.3%, suggesting that short-term rentals may be taking share from hotels.
Surveys show that, even though Generation Z adults may not have reached their peak earning years, they may be more willing to spend money on leisure travel than their Gen X and Baby boomer peers.
I was invited to lead a session on traveler well-being at the recent GBTA meeting in Dallas. Such an interesting topic, as most of our customers now need to think about employee well-being standards while considering organizational goals and environmental impact.
The FIFA Women’s World Cup 2023 is approaching its conclusion with the third place and championship matches set for this weekend in Brisbane and Sydney, respectively. Supported by record-breaking attendance, hotels around Australia and New Zealand have received a much-needed performance boost during the usually quiet winter season.
Hotels have been adjusting their housekeeping policies post-COVID lockdowns, with various brands shifting toward an opt-in model that provides daily housekeeping only to guests who request it. At least one operator is reversing course.
41% of travellers are also prepared to pay more than 30% extra for adventure and eco-tourism, according to the Voice of the Consumer: Lifestyles Survey, mentioned in Euromonitor’s newly released Sustainable Travel Index 2023.
Expected business travel spending accelerates due to pent-up demand, return of travel and meetings, improved COVID landscape, stable economic conditions and inflationary factors, according to the latest GBTA Business Travel Index Outlook report
It’s been a sizzling summer of travel, but this will likely be the peak of the post-pandemic boom. As longer nights start to draw in, the urge to splurge on pricey trips is bound to fade.
Commercial real estate prices are showing signs of stabilizing as inflation moderates and the Federal Reserve nears the end of its interest rate hiking cycle, according to a new CBRE survey.
The International Air Transport Association (IATA) announced that the post-COVID recovery momentum continued in June for passenger markets.
The state of Arizona, including Tucson, recovered quickly from the COVID-19 pandemic. Hotel performance in Tucson has far exceeded pre-pandemic levels, primarily given ADR gains since 2020. In this article, we discuss the current state of Tucson’s hospitality industry, meeting and group demand factors, and investment interest in the market.
Hotels have an edge over independent banquet halls when it comes to holding events because of their superior infrastructure, safety standards and brand image. However, with the evolving guest preferences and technological advances, it's time for hotels to throw out the old playbook and approach banquets with a fresh perspective, welcoming a new era of hospitality. Read on to know more.
Hotels stocks outperformed again in July with the global hotel brands leading the way higher
For many loyalty and rewards program members, earning rewards outranks the cost of traveling. Nearly half of travelers in such programs (44%) prioritize earning rewards over finding the lowest costs when traveling, demonstrating the value that these travelers place on their loyalty programs.
U.S. hotel performance declined from the previous week and showed lower comparisons year over year, according to CoStar’s latest data through 5 August.
For 2023, growth in revenue per available room (RevPAR) was lowered by 0.5 percentage points, due to a 0.6ppt downgrade in occupancy growth. For 2024, the RevPAR growth projection was also lowered 0.5ppts on a 0.5ppt downgrade in occupancy. Average daily rate (ADR) was upgraded 0.1ppts for 2023 but kept flat for 2024.
In this Nano Tool for Leaders, experts from Wharton and SEB explain how a neuroscience-proven tool can help your team work more effectively to find solutions to tough challenges.
Countries with the most projects in the construction pipeline include Mexico with 213 projects/33,853 rooms. Next is Brazil with 85 projects/14,772 rooms, the Dominican Republic with 33 projects/7,071 rooms, Peru with 27 projects/3,322 rooms, and Argentina with 18 projects/1,932 rooms.
Q2 marks third consecutive quarter of significant declines in global investment
Global business travel and events costs are set to climb higher through the remainder of 2023 and into 2024, albeit at a much more moderate pace than the exceptionally steep increases seen in 2022. This is according to the 2024 Global Business Travel Forecast, published today by CWT and the Global Business Travel Association (GBTA).