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PwC Hospitality Directions US: January 2019

Hospitality Directions | January 30, 2019

Our US lodging outlook remains stable, driven by a continued increase in consumer spending; increasing, albeit decelerating business investment; and relatively strong consumer confidence. Despite near-term risks, solid economic fundamentals support decelerating RevPAR growth in 2019. Fourth quarter lodging fundamentals came in just below expectations, with year-over-year RevPAR growth of 2.4 percent, driven by an average daily rate increase of 2.0 percent. Despite concerns over the impact from the trade tensions with China and rising construction/labor costs, the US lodging industry ended 2018 on solid footing, with occupancy reachin...

Africa’s Hotel Sector Offers Potential for Further Growth Over the Next Five Years – PwC Report

PwC | July 5, 2018

South African hotel room revenue is expected to expand to R21.8 billion in 2022, up 5.6%, compounded annually, from R16.6 billion in 2017 JOHANNESBURG, South Africa, July 5, 2018/ -- Africa's hotel sector has the potential for further growth over the next five years. An increase in the number of foreign and domestic travellers, as well as an expansion in a number of hotel chains on the continent reinforces the hotel sector's untapped potential for business growth. These are some of the highlights from a report issued today by PwC (www.PwC.com) on Africa's hotel sector. PwC's eighth edition of the Hotels outlook: 2018-2022 includes infor...

PwC Hospitality Directions US: May 2018

PwC US | May 29, 2018

Following a better than expected first quarter, lodging metrics continue to remain positive. First quarter results yielded stronger than expected increases in demand for many hotel companies, as well as slightly stronger rate growth, driven primarily by an increase in commercial transient travelers. Year-over-year for the first quarter, RevPAR increased across the transient segment nationally, led by rate growth. As hotels continue to feel the pressure from rising wages, insurance costs and other expenses, the components of RevPAR growth become more important. With occupancy levels at record levels, an expected uptick in commercial ...

PwC’s Lodging Outlook for U.S.: Hospitality Directions for 2018

PwC | January 23, 2018

Compelling economic and industry fundamentals suggest continued momentum for 2018 Less than a month into 2018, the eight-year growth cycle in the lodging industry lumbers on. While RevPAR performance in the third quarter of 2017 appeared to take a breather, the combined impacts of improving economic fundamentals and the regional increase in performance associated with the aftermath of Hurricanes Harvey and Irma resulted in a stronger fourth quarter, driving home a solid finish for the year. Going forward, the Tax Cuts and Jobs Act is reportedly providing a boost in business and consumer sentiment, and is expected to contribute to GDP gr...

PwC: Global Economic Growth in 2018 on Track to Be Fastest Since 2011

PwC | January 16, 2018

The main engines of the global economy - the US, emerging Asia and the Eurozone - are expected to contribute almost 70% of economic growth in 2018 compared to their post-2000 average of around 60%. Growth in the Eurozone is predicted to be above 2% in 2018, as PwC expects the peripheral economies to outpace the core for the fifth consecutive year. Of the larger Eurozone economies, the Netherlands is expected to lead the way with economic growth at around 2.5%. By contrast, uncertainty relating to Brexit is expected to drag on UK growth, which is predicted to be 1.4% in 2018. Barret Kupelian, senior economist at PwC, comments: "In 2...

PwC’s Manahattan Lodging Index Q3 2017

Manhattan Lodging Index | November 28, 2017

Continuing declines in room rates outweighed improving occupancy levels in Manhattan hotels during the third quarter, extending a pattern established last year. Although supply growth appears to have finally peaked, Q3 marks the tenth quarter of declining RevPAR since the beginning of 2015. Although supply growth may no longer be the top threat to the Manhattan lodging market, several other factors, including perceived political uncertainty and international travel restrictions, as well as a profound shift in demand segmentation, remain real concerns. Despite these, demand growth during the quarter of 3.4 percent outpaced an increase in...

PwC’s Hospitality Directions Forecast

Hospitality Directions | August 31, 2017

As uncertainty weighs on the economy, softening lodging industry growth expected to continue Following a weak first quarter, the US economy strengthened in Q2. An initial second quarter GDP estimate of 2.7 percent and further solid contributions from consumer spending suggest that the US economy will remain on solid footing for the balance of 2017. Overall, moderate demand growth in Q2 supported increases in both occupancy and ADR, resulting in a RevPAR increase of 2.7 percent. Despite ongoing political uncertainty, consumer and business spending are expected to continue to support economic growth in the second-half of 2017. Benef...

Africa’s Hospitality Sector Withstands Economic Headwinds

PwC | June 30, 2017

PwC's 7th edition of the 'Hotels Outlook: 2017-2021' projects that South African hotel room revenue will grow by 10.1% in 2017 to R17.5 billion JOHANNESBURG, South Africa, June 30, 2017/ -- South Africa's hospitality sector is poised for further growth in the next five years bolstered by inbound travelers amid a difficult and volatile economic climate. Pietro Calicchio, Hospitality & Gaming Industry Leader for PwC Southern Africa (www.PwC.co.za), says: "Africa's hotel sector has remained resilient in the face of strong economic headwinds." PwC's 7th edition of the 'Hotels Outlook: 2017-2021' projects that South African hotel room re...