HNR News Issue: August, 22 2023 | Read Online
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In a recent HSMAI Sales Advisory Board meeting, I introduced the topic of meeting space utilization to the group for discussion. Read on for three takeaways from our dynamic discussion. Read more
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Market Report Silicon Valley
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Silicon Valley historically experienced strong lodging performance driven by high-rated corporate demand during the week. Thus, the rise of remote work policies has had an impact on recovery. However, the presence of Big Tech, surging interest in AI technology, and expansion of the life-sciences sector are anticipated to drive growth in this market over the long term. Read more
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Technology Impact On Guest Satisfaction
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Any individual who has stayed at a hotel recently can attest that technology has become ubiquitous at every stage of the guest journey. From the booking process to check-in to guest room controls to the post-stay follow-up, guest services are supported by technology through and through. This evolution has been progressing over the last decade but was significantly accelerated by the COVID-19 pandemic which called for contactless processes. Once implemented, these automations were here to stay. Read more
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The hotel market in Louisville, Kentucky, has experienced a slow recovery since the peak of the COVID-19 pandemic. While a copious amount of new supply over the past few years has slowed the recovery, ADR has grown steadily. The area will continue to be supported by bourbon tourism, the University of Louisville, and the Kentucky Derby. Read more
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Travel Market Life Podcast
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In this episode the second of a mini-series on revenue management and pricing strategies, we speak with Radisson, Preferred Hotels and IDeaS RMS about the hotel performance metrics and how they are changing. Read more
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Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets. Read more
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Hoteliers and travel experts speaking at the 2023 Hotel Data Conference said leisure travelers want to feel like they're getting a good value in their stay and that they're getting what they pay for. Read more
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The rate of growth in occupancy, average daily rate and revenue per available room decelerated considerably in Q2, with room rate fatigue effecting growth in the higher-priced hotel categories. Read more
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Hotel Construction Pipeline China
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As seen in the most recent Construction Pipeline Trend Report for China from Lodging Econometrics (LE), the country’s pipeline stands at 3,666 projects/678,965 rooms. At the close of the second quarter, the total pipeline is slightly less than the all-time high of 3,711 projects/704,101 rooms set in the second quarter of 2022. Read more
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Domestic bookings are up 4% and international bookings are up 44%. Read more
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Global occupancy (excluding the U.S.) rose 5.3pts YoY to 73.4%, which was once again the highest post-pandemic level. ADR grew 11.4% YoY to US$156, resulting in a 20% gain in RevPAR. Read more
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North American Meeting Trends
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National Associations led key meeting industries in top three markets Read more
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CBRE Hotel Horizons Forecasts
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CBRE is reducing its forecast for hotel performance this year, as weaker-than-expected summer demand resulted in a shortfall in Q2 2023 revenue per available room (RevPAR). Read more
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The 'human oversight' curating algorithmic content on MSN somehow missed a list of tourist hot spots that put the food bank at number three. Read more
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Travel brands have benefited from investment in technological infrastructure and online booking products during the past few years, resulting in a 48% jump in online direct sales to $171.9 billion in 2022, according to Phocuswright's travel research report U.S. Travel Market Report 2022-2026. Read more
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CBRE Hotels is soliciting offers to acquire the fee-simple interest in the Holiday Inn Express & Suites in West Houston Katy, Texas. Located off Interstate Highway 10 and just minutes away from Katy Mills Mall and Houston Energy Corridor, the 97-room hotel receives business from a diverse population of both corporate and leisure segments. Read more
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Management Appointment Accor
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Accor today announces that Gilda Perez-Alvarado, currently Global CEO of JLL Hotels & Hospitality, has been appointed as Group Chief Strategy Officer of Accor. Read more
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The historic Lake Okanagan Resort was one of an untold number of buildings destroyed by the wildfire still raging in West Kelowna, B.C. Read more
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