/Tag: pwc


Global Hospitality CEO Survey: What Trends Are Shaping the Hospitality and Leisure Industry?

Kimberly Yoong | July 16, 2019

Hospitality businesses must find ways to differentiate themselves to remain competitive against ever growing industry disruption, the PwC’s 22nd CEO Survey unveils. By Kimberly Yoong According to the 22nd Annual Global CEO Survey by PwC, the Hospitality and Leisure industry's success continues to rest on its ability to cater to individual consumers’ preferences and desires. As the 3,200 global CEOs interviewed for the survey put it: “People eat, sleep, play games, cement friendships and seek cures in hospitality facilities.” However, recent trends suggest that the industry has been losing that connection with their customers as...

PwC Manhattan Lodging Index – Q4 2018

PwC US | March 1, 2019

Revenue per available room ("RevPAR") reached the highest fourth quarter average since 2006, as growth in average daily room rate ("ADR") rebounded at Manhattan hotels. During the quarter, lodging supply, which continued to outpace growth in demand, resulted in declines in occupancy. With strong commercial traveler demand during the first half of the quarter, coupled with price-elastic holiday tourism in the latter half, Manhattan room rates finished the quarter at an average of $328 per night. ...

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...

PwC Hospitality Directions U.S. Report Updates Lodging Outlook Suggesting Sustained Momentum Through 2019

PwC Hospitality Directions US | August 28, 2018

Stronger economic indicators in Q2, coupled with accelerating group demand, suggests sustained momentum for the lodging sector through 2019 Second quarter fundamentals remained positive, as consumer confidence continued. Here is a quick summary of its findings: Q2 results yielded strong demand for hotels, outpacing increases in supply, as well as the highest Q2 increase in ADR since 2016. Continued growth in demand led to a midyear year-to-date occupancy of 65.9 percent. Looking ahead to 2019, there is an expectation of continued confidence by hoteliers as increases in room rates continue to become a bigger driver of RevPAR growth. ...

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 ( 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 ...

Manhattan Lodging Index – Fourth Quarter 2017

PwC | February 27, 2018

After ten quarters of continuous RevPAR declines, performance finally turned around in the fourth quarter of 2017. RevPAR increased 1.4 percent, driven entirely by resilient occupancy levels. While supply growth showed signs of deceleration, growth in average daily rate remained elusive. Looking back through 2017, top line lodging performance in Manhattan was all about room night demand. Despite an increase in supply of 2.6 percent, lodging demand grew at a 3.7 percent rate, driving a second year of occupancy growth. However, maintaining pricing power proved challenging in the face of this new supply, resulting in a 1.6 percent decline...

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...

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