-
May 18, 2024 | 
hotelnewsresource.com | Larry Spelts |Kristina M. D'Amico
The Travel Sector in 2024 is Breaking Boundaries According Mastercard Research
The travel sector in 2024 is breaking boundaries. Through March 2024, consumer spending on travel is robust with significant increases in passenger traffic, according to the latest global report from the Mastercard Economics Institute. Released today, “Travel Trends 2024” provides comprehensive insights into the evolving landscape of the travel industry across 74 markets.
-
May 18, 2024 | 
hotelnewsresource.com | Larry Spelts |Kristina M. D'Amico
CBRE expects revenue per available room (RevPAR) growth to improve in the second half of 2024, following a weaker-than-expected first quarter. CBRE's latest forecast projects a 2.0% increase in RevPAR growth for 2024, down from the 3.0% estimated in February 2024. RevPAR is now expected to grow by 3% for the remainder of the year, driven by international tourists, holiday travel and limited supply growth. CBRE forecasts GDP growth of 2.3% and average inflation of 3.2% in 2024.
-
May 16, 2024 | 
hotelnewsresource.com | Navid Walizadeh |Kristina M. D'Amico
Image Credit Marriott International
In collaboration with leading media platform Jing Daily, Marriott International unveils an in-depth report shedding light on the evolving landscape of luxury travel in China. Titled 'Luxury Explored: Chinese Luxury Travelers Evolving Desires,' the report delves deep into the transformative trends and shifting preferences shaping the Chinese luxury travel market.
-
May 16, 2024 | 
hotelnewsresource.com | Larry Spelts |Kristina M. D'Amico |Debbie Miller |Mandy Murry
Image Credit Cayuga Hospitality Consultants
Small properties (one hundred rooms or less), especially upper-upscale and luxury boutique hotels in destination markets that are principally leisure with higher ADRs, are often attractive buy-out destinations for certain kinds of groups. This can range from weddings and reunions to corporate and association retreats or incentive travel.
-
May 16, 2024 | 
hotelnewsresource.com | Kristina M. D'Amico
HVS Hotel Market Report - The Rebound of Barbados Following COVID-19
Following the interruption of Barbados's tourism industry during the COVID-19 pandemic, Barbados is on pace to surpass the peak achieved in 2019 during 2024. The recent and planned opening of a number of internationally branded resorts in Barbados will make the destination even more attractive.
-
Mar 22, 2023 | 
hotelnewsresource.com | Kristina M. D'Amico
European hotel values rise 3% in 2022 in what proved a mixed year for the sector. Read more in our latest European Hotel Valuation Index.
For Europe, some aspects of 2022 were much better than expected, while others were much worse. Some ofthe key highlights of this eventful year are presented below.
-
Mar 22, 2023 | 
hotelnewsresource.com | Kristina M. D'Amico
Weekly Hotel Industry Asia Pacific News Roundup from HVS
TRIAD Acquires ANA Crowne Plaza Hotel Kyoto via Real Estate Crowdfunding
Japan-based TRIAD Co., Ltd ("TRIAD") has just acquired the 291-key ANA Crowne Plaza Hotel Kyoto ("ANACPHK"), by raising a staggering JPY7.2 billion through real estate crowdfunding 'COZUCHI'. Launched in 2019, COZUCHI has managed to raise over JPY22 billion, with its goal to achieve total assets of JPY100 billion and acquire JPY1 billion worth of real estate assets.
-
Mar 22, 2023 | 
htrends.com | Kristina M. D'Amico
2 minute read
HVS
March, 24 2023
This article provides an outlook for the Denver hotel market.
With occupancy nearing the 70% mark and ADR levels approximately 4% above 2019 levels, the Denver lodging market achieved a RevPAR level in 2022 that was approximately $5 below 2019 levels. In line with the top 25 major metropolitan areas in the U.S., ADR has led the way in the recovery, with occupancy remaining below prior peaks.
-
Mar 21, 2023 | 
hotelnewsresource.com | Kristina M. D'Amico |Shannon Okada
2 minute read
HVS
March, 21 2023
HVS Brokerage & Advisory announced the sale of the 57-key Howard Johnson by Wyndham Houma, located at 105 Lamar Street, Houma, Louisiana 70360. The property, built in 2008, was purchased by Agha Holdings, based in Chatsworth, California, from KAK Enterprises, based in Houma, Louisiana. Steven Hoang, Principal of KAK Enterprises, commented, “We were pleased to work with the HVS team on the sale of our hotel.
-
Mar 20, 2023 | 
hotelnewsresource.com | Kristina M. D'Amico
4 minute read
IHG
March, 20 2023
Strengthens the multifaceted collaboration with one of Japan's largest airline and hotel networks
ANA HOLDINGS and IHG ANA Hotels Group Japan have signed a comprehensive commercial agreement. The agreement will develop the strategic alliance that started in 2006 and strengthen cooperation in various fields, predominantly in sales and marketing.
