5 Events That Influence Hotel Performance
HotStats | January 13, 2020
In 2008, when the U.S. economy took a nosedive, Wall Street execs weren’t the only ones panicking. Hoteliers across the country had to brace themselves for impact. On its face, the Great Recession that followed would mean less leisure and corporate travel, tighter wallets and empty rooms. However, the operations that survived were able to roll with the punches. They dug into the data and adjusted costs to increase profit. Even though the 2008 crash—a so-called “black swan event”—was in a class of its own, it’s not uncommon for events to influence the hotel industry. And each event serves as a miniature lesson for hoteliers. ...
Tough Year Ahead for UK Hoteliers With Key Issues to Tackle
HVS | January 7, 2020
HVS identifies five key issues that hotels need to consider moving into the new decade, including the fact that travellers are now expecting a more personal service, the issue of corporate responsibility and the importance of attracting and retaining good staff UK hoteliers face a tough year in 2020 with a growth in rooms supply increasing competition and dampening revenues despite underlying demand remaining strong, according to global hotel consultancy HVS. “Hotels in the UK provinces found 2019 challenging and there seems to be little opportunity to improve this performance in 2020,” commented HVS London chairman Russell Kett. ...
2019 HVS Performance Report: Spa Department
Rodney G. Clough | January 6, 2020
By Rodney Clough, Mia Mackman On average, spa and wellness departments run profitably and can contribute significantly to a hotel’s bottom line. This report is our second annual performance report published by HVS that tracks and monitors spa department performance and profitability. The data presented reflect spa operating-statement averages and data points from 2018 through the third quarter of 2019. Across HVS’s 40 U.S. locations, our expert associates are continually consulting on hotels and resorts with significant spa and wellness operations, which are captured within their own departmental statement on an operating profit and...
U.S. Hotel Profit Bounces Back After Downward Blip
HotStats | January 3, 2020
A negative profit turn for U.S. hotels in October gave way to robust growth in November, as GOPPAR climbed 6.1% year-over-year, the second-highest increase of 2019, according to data from HotStats. While profit growth was strong in the month, year-to-date it is somewhat muted, up only 0.3%. November was a strong revenue story, particularly on the food & beverage front. RevPAR was up 1.7% YOY, led by a 1.0% uptick in average room rate, while F&B RevPAR was up 4.1%. The combination resulted in a 3.2% YOY increase in total revenue, which is now up 1.5% YTD. Declining expenses, although, were not reason for the robust profit grow...
HVS Industry Statistics Update – Q4 2019
Jerod S. Byrd | January 3, 2020
By Jerod Byrd Occupancy levels across the U.S. remained generally stable through October 2019, while ADR registered a marginal increase of less than 1%. Research suggests that RevPAR will end 2019 below the 1% mark; this represents a further year-over-year deceleration in RevPAR, which has been the general trend since 2015. The continued entrance of new supply and the slowdown in job growth are the primary factors contributing to the recent trend. Supply is anticipated to continue to increase by nearly 2% in 2020, which will likely outpace demand growth. While RevPAR is projected to remain positive in 2020, the decelerating growth trend is...
HVS Global Hotel Industry Outlook – Ushering in a New Decade
HVS | January 2, 2020
The Global Hotel Industry Outlook report provides expert insights into regional performance for Asia, Canada, Europe, India, Mexico, Middle East, and the United States The Canadian lodging industry has reached peak performance levels—RevPAR and profitability are at all-time highs. However, growth has slowed since the summer, and operating performance appears to be shifting into a lower gear. Growth in the Canadian lodging sector is slowing, but the country remains a sound market for investment. The fundamentals of the industry are healthy, and demand growth is expected to keep pace with supply increases next year, resulting in moderate ...
HVS Market Pulse: Boise, Idaho
Eileen Bosworth | December 26, 2019
By Eileen Bosworth Boise, the Gem State’s capital, awarded the title of Americas’ fastest-growing city by Forbes magazine in 2018,[1] has continued to show robust economic growth in 2019. Key developments include a major announcement in Nampa, expansions occurring at Boise Airport, and a steady events/convention calendar for the upcoming year at the Boise Centre. The greater Treasure Valley is poised for further growth, fueled by the development of the announced Amazon fulfillment center coming to Nampa, a Boise suburb. The facility’s 650,000-square-foot warehouse is slated for completion in the fall of 2020 and is expected to ...
Led by Hilton, Marriott, and Accor, the Middle East Pipeline Is in an Extended Topping-Out Formation
Lodging Econometrics (LE) | December 23, 2019
December 23, 2019 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that in the third quarter of 2019, the hotel construction pipeline in the Middle East stands at 625 projects/178,433 rooms. Pipeline project counts are up a slight 2% while room counts show a 1% decrease year-over-year (YOY). It is the seventh consecutive quarter of the total pipeline count exceeding 170,000 rooms. Projects presently under construction are at 344 projects/112,601 rooms while projects scheduled to start construction in the next 12 months have 145 projects/33,031 rooms, the tenth quarter of exceeding 30,000 rooms. Projects in the early plan...
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