industry outlook
HVS Outlook 2023: Beyond the Recovery
Anne R. Lloyd-Jones | January 23, 2023
By Anne R. Lloyd-Jones, McKenna Luke Despite persistent high inflation, an active Fed, and accelerating recessionary concerns, the lodging industry sustained the strong growth recorded in Q2 and Q3 of 2022 through the balance of the year. Transient demand continued to lead the recovery, surpassing 2019 levels in 19 of the past 21 months. The leisure segment remains a dominant influence, with business demand returning at a slower pace, although increasing levels of “bleisure” demand are blurring the distinction between these two sectors. Group demand rebounded to roughly 80% of 2019 levels; after the initial return of small to medium-si...
Hospitality Students Expect a Positive Industry Outlook for 2023
Linchi Kwok | January 17, 2023
By Linchi Kwok It is time to say goodbye to 2022, a year of healing and recovery from the pandemic. A few of our hospitality students weighed their perspectives on the industry’s 2023 outlook. The student profiles Bianca Louise N. Del Castillo, a second-year master’s student and competed in the STR Student Market Analysis Competition. She worked in hotels and travel agencies before joining the program. Brandon J. Oceguera, a first-year student, working in a country club in Orange County (OC). He worked at the OC Fair for the past five years, with a total of seven years of experience. He loved to cook, eat, and golf. Jordan ...
Consumer Travel Outlook Better in the Short-Term Amid Increasing Cost Pressures, Declining Travel Disruption and Fewer COVID-19 Concerns
STR | December 5, 2022
Via STR’s Market Recovery Monitory through 12 November 2022, a pandemic-era high 52% of global hotel markets achieved real (inflation-adjusted) revenue per available room (RevPAR) above 2019 levels on a 28-day moving basis. In the U.S., 62% of markets exceeded their pre-pandemic comparable during the period. In the face of mounting economic challenges, the war in Ukraine and soaring inflation in many parts of the world, these encouraging results highlight the continued resilient performance of the global hospitality industry. Building on previous research conducted throughout the pandemic, STR canvassed opinion among consumers in No...
Survey: Higher Share of Americans Plan Holiday Hotel Stays, Hotels Top Choice for Leisure Travelers
American Hotel & Lodging Association (AHLA) | November 7, 2022
WASHINGTON (November 7, 2022) – The share of holiday travelers who plan to stay in hotels is up this year, and hotels are the top lodging choice among those certain to travel for leisure in the next three months, according to a new national Hotel Booking Index Survey commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult. AHLA’s Hotel Booking Index (HBI) is a new composite score gauging the short-term outlook for the hotel industry. The one-through-ten score is based on a weighted average of survey respondents’ travel likelihood in the next three months (50%), household financial securi...
Global Real Estate Perspective November 2022: Lodging Fundamentals Strengthen
JLL | November 3, 2022
The lodging industry’s recovery continued to accelerate in the first nine months of 2022, despite increasing global economic uncertainty and deep labor shortages across travel and tourism companies. Year-over-year, hotel occupancy and average daily rate (ADR) across all regions showed growth supported by strong domestic and emerging international travel demand. Urban markets are experiencing greater momentum in their recovery as more employees return to the office, and leisure travelers are once again drawn to restaurants and live entertainment venues. Across the Americas, Miami, San Juan, New York, Los Angeles and Boston achieved the hi...
Hospitality Asset Managers Association (HAMA) Release “Fall 2022 Industry Outlook Survey” Results
HAMA | October 20, 2022
CHICAGO, October 20, 2022—The Hospitality Asset Managers Association (“HAMA”) today released the results of its Fall 2022 Industry Outlook Survey. The semi-annual report collected the opinions, experiences and predictions of approximately 70 hotel asset managers concerning the hospitality industry since the beginning of the pandemic through today. The survey also addressed respondent’s thoughts on the current state of the industry. Presented live in Chicago, Ill., the survey was conducted in advance of HAMA’s 2022 Annual Fall Meeting. In total, 68 asset managers, comprising approximately one-third of membership, participated in t...
The Intersections of Tomorrow’s Hotel Industry
Jean-Philippe Nuel | May 20, 2021
By Jean-Philippe Nuel It has already been a year since Covid-19 developed into a pandemic, along with its panoply of urgent measures to contain, combat and defeat the devastating effect of the virus. Confinement, curfews, travel restrictions—including the recent border closures in Europe—and frequent mandatory quarantines for international travel. In the United States, New York City has gone dormant. The dynamism of the American megalopolis—the world's meeting point for business, art, diplomacy and tourism—has collapsed. The luckiest New Yorkers have been living in the countryside or in Florida for a year, and tourists are logic...
Things We Didn’t See Coming
H. Keith Thompson | March 2, 2021
By H. Keith Thompson The past year has been great for a few hotel segments and very difficult for many others. I have personally been through many cycles and this past year has been like no other. A shift has occurred that many people didn’t see coming and most certainly, I didn’t see coming. Given this, I thought I would list a few changes that have come out of the past year. - Old exterior corridor hotels are back in vogue. By their original construction design, they have built in social distancing. - The great relocation. Mass exodus from urban core centers. - Most all demand generators from 2019 have changed significantly and ma...
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