Canadian Lodging Outlook Quarterly 2019-Q2
About HVS Canada | August 21, 2019
HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Source: STR Source: STR If you would like a detailed hotel performance data for all of Canada, STR offers their Canadian Hotel Review. The Canadian Hotel Review is available by annual subscription. For further Information, please contact: info@str.com or +1 (615) 824-8664 ext. 3504. ...
U.S. Hotel Interest Coverage / Robert Mandelbaum and John B. Corgel, Ph.D.
Robert Mandelbaum | August 20, 2019
By Robert Mandelbaum and John B. Corgel, Ph.D. According to the March 2019 edition of CBRE’s Hotel Horizons® forecast report, RevPAR growth for the U.S. lodging industry will be limited to under 2.5 percent through 2020. Further, CBRE is projecting a 0.6 percent decline in RevPAR for 2021 as CBRE expects the economy to slow down during the year. The combination of modest increases in revenue and rising operating expenses (especially labor) make hotel owners and operators nervous about their ability to enjoy profit growth the next few years. While the profit growth story is concerning, it should it should be noted that current GOP...
The Latin America Hotel Construction Pipeline Continues to Decline from Its 2016 Peak
Lodging Econometrics | August 20, 2019
August 20, 2019 – PORTSMOUTH, NH – According to the recent Latin America construction pipeline trend report from Lodging Econometrics (LE), the total construction pipeline is in its third year of decline by rooms and has 710 projects/123,392 rooms. 710 projects is the lowest number of projects in the pipeline since the fourth quarter of 2013. Projects presently under construction stand at 321 projects/56,228 rooms. Projects scheduled to start construction in the next 12 months stand at 208 projects/35,733 rooms, which is an all-time high for rooms, and those in the early planning stage are at 181 projects/31,431 rooms. In the secon...
Study: A Record 768 Million U.S. Vacation Days Went Unused in ’18, Opportunity Cost in the Billions
U.S. Travel Association | August 19, 2019
WASHINGTON American workers left a record number of vacation days on the table last year—768 million days, up 9% from 2017—according to new research from the U.S. Travel Association, Oxford Economics and Ipsos. Of the unused days, 236 million were forfeited completely, equating to $65.5 billion in lost benefits. More than half (55%) of workers reported they did not use all their allotted time off. While American workers are leaving more unused days on the table, they are also taking more days of paid time off; American workers took off an average of 17.2 days in 2017 and 17.4 days in 2018. Employment in the U.S. is st...
The Boston Lodging Market: What the Supply Surge Means Moving Forward
Sebastian Colella | August 19, 2019
At year-end 2018, the Boston and Cambridge lodging market was comprised of 105 hotels with approximately 24,000 rooms. While this has grown considerably in four years, lodging supply in this market remains small relative to other major gateway cities. The ongoing building boom in Boston and Cambridge has contributed greatly to the recent surge in lodging supply and is expected to continue through 2021 and beyond. What does the pipeline of hotel development, its largest in recent history, mean for the Boston lodging market’s performance? Recent & Continued Supply Growth Between 2000 and 2014, rooms supply in market increased at ...
The Raptors Won the NBA Title, But What City Won the GOPPAR Crown?
David Eisen | August 12, 2019
By David Eisen Sporting events typically serve as huge hotel demand generators for a city. And when the games are really meaningful—such as a playoff round or championship final—they become even hotter tickets, which means a greater need for hotel rooms—for guests who are attending the games and those who are there just to share in the experience. These high-demand times typically (should) equate to higher occupancy, higher rates and (hopefully) higher monthly profitability. The 2019 NBA Finals, which pitted the Toronto Raptors against the Golden State Warriors, was one of these events. For Toronto, it was especially satisfying si...
Q2 2019 Cvent Group Business Outlook Shows Continued Group Booking Slowdown
Cvent | August 9, 2019
Quarterly forward-looking report informs hoteliers of key market trends to help drive group business growth TYSONS, Va.--August 9, 2019 --In the latest Cvent Group Business Outlook, a 24-month forward-looking report highlighting United States group booking activity through the Cvent Supplier Network, data shows U.S. hotels will continue to face a challenging group business market. “While group booking pace has picked up slightly compared to last quarter’s report, the overall 24-month view is still fairly weak,” said Jeffrey Emenecker, senior director of analytics at Cvent. “As we look at the next two years, our sourcing data sh...
Canada’s Hotel Construction Pipeline Continues to Grow Hitting an All-Time High
Lodging Econometrics | August 9, 2019
August 9, 2019 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that at the close of the second quarter of 2019, the total construction pipeline in Canada hit an all-time high with 273 projects/35,787 rooms. Construction pipeline projects are up 14% and rooms are up a lofty 20% year-over-year (YOY). Currently, there are 92 projects/11,118 rooms under construction. Projects scheduled to start construction in the next 12 months stand at 95 projects/11,097 rooms with projects in the early planning stage at 86 projects/13,572 rooms, both stages hitting record high counts. In the first half of 2019, Canada opened 28 new ho...
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