Lodging is a cyclical industry meaning that it passes over time through four distinct phases: peak, contraction, trough and expansion. Most industry participants believe that 2007 was the previous peak of the current business cycle following six years of expansion from the 2001 industry recession.
Business activity for US hoteliers rose to a reading of 120.8 in July according to today's release of the Hotel Industry's Pulse (HIP) indicator.
In this 7th annual Lodging Tax Report, HVS explores the current status and historical trends of lodging taxes in the USA. This updated version provides lodging tax rates/collections on all 50 US states and 150 US cities.
In addition to having more to spend, travelers have increased the amount they spend on travel by 40 per cent this year, compared with last year. The increasingly influential millennials are spending unprecedented amounts on travel, with those born after 1990 increasing their travel spend by 80 per cent this year.
TravelClick today released new data from the Companys August 2018 North American Hospitality Review (NAHR).
U.S. hotel occupancy decreased 3.3% to 69.8% during the week of 9-15 September, and a 0.3% ADR decrease to $131.03 pushed RevPAR down 3.7% to $91.47.
During the week of 9-15 September, Canadian hotel occupancy dipped 0.7% to 78.5%, but a 4.3% ADR increase to 177.99 Canadian dollars ($137.95) lifted RevPAR up 3.6% to CA$139.71 ($108.30).
Group bookings for events are a key part of most hotels business, but managing room blocks has long been a cumbersome, time-consuming task. HSMAI and Cvents white paper seeks to inform hoteliers about real-time data tools that can result in smarter, more efficient group booking management.
Auckland has been one of the regions best performing hotel markets with RevPAR of the major hotels increasing by 60% over the past five years. Government and tourism agencies have been calling for more hotels to cope with the influx of international visitors. Developers and investors are responding despite increasing construction costs and local government taxes. But is their response proportional to the need?
BCD Travel 2019 Industry Forecast