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PKF News Page 2

Boutique Hotel Trends

Bucking Trends Boutique Hotels with Food and Beverage - By Robert Mandelbaum

For the past several years, limited- and select-service hotels have been extremely popular among hotel developers. According to STR, Inc. 80 percent of the properties (70 percent of the rooms) that opened in 2015 did not offer a restaurant. Also lagging in development activity are independent hotels. Of the 775 new hotels that opened in 2015, only 79 (10.2%) were not affiliated with a brand. These trends are the result of consumer preferences and the realities of financially feasible hotel development.

Historic Hotels Outperform Contemporaries
West Baden Springs Hotel

Historic Hotels: Revenue Premiums Offset Greater Costs - By Robert Mandelbaum

While owners and managers appreciate the sentiment and stature of these properties, historic hotels have their unique operational challenges. As with any old structure, there are operating functions that require greater than average time and expense. On the other hand, the popularity of these aged properties has enabled them to recover faster from the depths of the great recession compared to their younger competitors.

Trends In The Hotel Industry

Hotel Salaries and Wages On The Rise - By Robert Mandelbaum

One of the most significant findings of the 2015 edition of Trends® in the Hotel Industry was the 4.9 percent rise in operating expenses (ExPAR) for U.S. hotels during 2014. This is the greatest annual increase in ExPAR since 2007, and uncharacteristic of the strict cost controls implemented during the initial years of the recovery from the 2009 great recession.

Hotel Spa Trends

Hotel Spa Departments Generate Healthy Profits

Hotel spa departments continue to contribute to the revenue and profit growth of U.S. hotels. According to the 2015 edition of Trends® in the Hotel Spa Industry, hotel spa department revenues increased by 5.1 percent in 2014, while spa department profits grew 10.5 percent.

What To Budget For 2016

Budget Accuracy Benefits All - By Robert Mandelbaum and Viet Vo

Since 2001, PKF Hospitality Research, a CBRE Company (PKF-HR), has assessed the accuracy of hotel budgets. Over the past 14 years, one trend has become very predictable. During times of industry prosperity, hotel budgets are extremely accurate.

Hotel Utility Costs

Consumption and Pricing Influence Hotel Utility Costs - By Robert Mandelbaum

Over the years, the energy component of the consumer price index (CPI) has been a good indicator of the direction of the change in total utility expenditures at hotels. In general, when the energy CPI has gone up, hotel utility costs have increased, and vice versa. The energy CPI measures the average change over time in the prices paid by urban consumers for gasoline, fuel oil, electricity, and piped gas service.

CBRE Group, Inc. Acquires PKF Consulting Inc. in Canada

CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired PKF Consulting Inc. (PKF Canada), a leading advisory, consulting and research firm in Canada specializing in the Canadian hospitality and tourism industries.