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What Happens When Government Per Diems Change?

the Authors | November 19, 2019

By Bram Gallagher Ph.D. and Aman Patel Because federal government employees purchase a significant quantity of hotel rooms, the General Services Administration (GSA) has partnered with Federal Travel Regulation (FTR) compliant accommodations to provide federal travelers with per diem hotel room rates for select high-volume travel destinations in and outside of the Continental United States. These federal guidelines frequently serve to determine the hotel per diem allowances for state and local government travelers as well. Using the federal government per diem as guidance, individual properties and hotel chains set special room rates to...

Market Snapshot: Asia Pacific 2019

Hok Yean CHEE | November 11, 2019

By Hok Yean CHEE Transactions in Asia Pacific In 2018, transaction activity in Asia Pacific continued its strong momentum from 2017 and achieved transaction volume of approximately USD12.8 billion worth of hospitality assets, indicating a 26.6% increase year-on-year. From 4Q2018 to 3Q2019, transaction activity in Asia Pacific has slowed down. Despite the reduced transaction activity, growing interest in hospitality assets continue to be observed in regions such as Australia & New Zealand, India & Sri Lanka and specific markets in the North Asia and South-East Asia regions. For some markets, the slowdown can be attributed to vario...

Per Diem Rates: Current & Historical Trends

Chelsey Leffet | October 17, 2019

By Chelsey Leffet Government per diem rates are set for a number of locations, many applying to multiple regions or localities in each state. A per diem rate is made up of three components: a lodging allowance, meals allowance, and incidental expense allowance[1]; however, this article and the data presented below focus solely on the lodging allowance. The per diem lodging rates, which provide a maximum amount that a federal traveler can reimburse, are based on the costs of mid-priced hotels and are set annually by the U.S. General Services Administration (GSA). The following article examines the per diem trends of the top 24 lodging marke...

Year of Profit Growth Continues at U.S. Hotels

HotStats | October 1, 2019

Key Takeaways: While a large portion of the global industry is having trouble driving profit, U.S. hotels are hitting a purple patch. U.S. hoteliers are doing a strong job of flexing cost, as expenses, including payroll, continue to rise on a YOY basis. It’s not all peachy. New York, for instance, has had only one month so far this year of YOY profit growth—June, at only 0.6% growth.   GOPPAR increased 1.4% year-over year in August, matching RevPAR growth, which also clocked in with a positive 1.4% gain, according to monthly data from HotStats. August continued a streak of GOPPAR growth in 2019, with the only nega...

Travel Trends Index: International Inbound Travel Tumbles for Fourth Month This Year

U.S. Travel Association | September 4, 2019

Business travel rebounds to help sustain healthy growth of domestic market Washington — Travel to and within the U.S. grew 3.2% year-over-year in July, according to the U.S. Travel Association’s latest Travel Trends Index (TTI)—a slight rebound from June’s nine-month low. International inbound travel contracted once again in July, falling by 1.2%. The decline follows a disappointing June performance which saw the sector’s six-month trend fall below zero for the first time since September 2015. The Leading Travel Index (LTI), the predictive component of the TTI, projects international inbound travel growth will re...

Maine had more Airbnb summer guests, with hosts earning almost $56 million

September 4, 2019

The number of summer guests renting Maine homes through Airbnb has nearly doubled in two years, according to new data released by the company. Airbnb rentals recorded 295,000 guest arrivals in Maine from Memorial Day to Labor Day, the San Francisco company said in a news release Wednesday. Hosts made $55.7 million from rentals during that period, according to the company, which provides an online platform for guests to rent rooms, entire apartments or single-family homes. Airbnb is the leading home-sharing company in the U.S. Two years ago, Airbnb reported 158,000 guests and about $27 million in revenue in Maine. Last year, there wer...

Paris Hotel Market – A Rocky Start to the Year

Dayk Balyozyan | September 3, 2019

By Dayk Balyozyan & Sophie Perret Since our previous article in April 2018, the business environment in France has experienced positive change with a decrease in unemployment rate and an increase in purchasing power, following the ‘gilets jaunes’ disruption. The Economist Intelligence Unit forecasts modest GDP growth to pick up to around 1.5% for the foreseeable future. In terms of tourism, Paris enjoys an exceptionally well-balanced mix of business and leisure demand, which allows the City of Lights to have both a broad seasonality and strong average rate. Paris has remained, alongside London, one of the two most desirable destina...

Q2 2019 U.S. Lodging Market Update

Daniel Lesser | August 6, 2019

By Daniel Lesser With 121 consecutive months of growth through Q2 2019, the U.S. economy is now in record territory for the longest expansion period in history. The decade long economic expansion has been fueled in part by job growth, record low unemployment rates, and low interest rates in the capital markets. During the first half of 2019, America has continued to add jobs, albeit at a slower pace compared to last year. U.S. consumer confidence remains vigorous and stock market indices continue to set record high levels. To mitigate the risks of slower global growth and trade-policy uncertainty, during the near term, the Federal Reserve ...

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