Total demand, measured in revenue passenger kilometers (RPKs), was up 21.5% compared to February 2023. Total capacity, measured in available seat kilometers (ASK), was up 18.7% year-on-year. The February load factor was 80.6% (+1.9ppt compared to February 2023).
As expected ahead of the Easter holiday, U.S. hotel performance decreased from the previous week, according to CoStar's latest data through 30 March.
HSMAI Staff recently had the opportunity to chat with David C. Edelman, a speaker at the HSMAI Commercial Strategy Conference, June 25-26 in Charlotte. David is author of the upcoming book, Personalized: Customer Strategy in the Age of AI, and is a sought-after advisor on digital transformation and marketing.
The International Air Transport Association (IATA) released data for February 2024 global air cargo markets showing continuing strong annual growth in demand.
Three-Quarters of Americans Plan to Take a Trip in the Next Year
High inflation and interest rate rises had a major impact on the European hotel investment market last year, slowing transaction activity and taking volumes 19% lower than in 2022, the second lowest level of investment in the past decade, according to our HVS European Hotel Transaction Report, published this week in partnership with our European hotel brokerage arm HVS Hodges Ward Elliott.
Throughout numerous HSMAI meetings, including board meetings, commercial week, and leadership conferences, a consistent and powerful theme has emerged regarding the role of leadership in the post-pandemic era. It has become evident that effective leadership is paramount in defining an organization's culture, fostering a sense of community, and serving as a shining example of collaborative teamwork. The insights presented in this excerpt from the HSMAI Foundation Special Report: The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2023-2024 are attributed to HSMAI board members and leaders from these meetings.
Over the past four years, utility costs at U.S. hotels have increased at a pace greater than total operating revenue. As a result, utility department expenses increased from 2.9 percent of total revenue in 2019 to an estimated 3.3 percent in 2023. As hotels have
This report focuses on three tax incentives proposed under the title 'American Innovation and Economic Growth,' applicable to the hospitality industry.
The impact of the increase in the National Living Wage (NLW) on labour costs in 2024 is forecast to hit UK hotels, particularly in the regions. This will put the spotlight once again on the need for top line growth and smarter cost control to maintain or improve profitability.
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
Overall travel demand sees usual seasonal pickup in February, rising above prior month January but falling short of February 2023 levels.
Overall travel demand sees usual seasonal pickup in February, rising above prior month January but falling short of February 2023 levels.
GWI report presents policy ideas that move beyond the narrow goals of attracting luxury resorts and wealthy tourists to strategies that would bring more wellbeing to all - travelers, residents, and the destination. GWI also releases first compilation of wellness tourism market data, 2012-2027
Globalization, increasing freedom of movement between countries, and the growing interdependence of national economies have boosted cultural diversity in many industries. Nowhere is this paradigm shift more evident than in hospitality. How to manage cultural diversity effectively in hospitality is crucial in light of these changes.
U.S. hotel performance decreased from the previous week but showed positive comparisons year over year, according to CoStar's latest data through 23 March.
RevPAR improved 2.0% year over year (YoY) in February, reflecting the continued return to pre-COVID patterns of low single-digit gains. Remove Las Vegas from the equation, however, and February RevPAR was down 1.4% YoY. The overall RevPAR increase was due to a solid YoY increase (+3.9%) in ADR, which was partially offset by an occupancy decline of 1.1 percentage points to 58.9%.
Marriott International, Hilton, Accor, Radisson Hotel Group and IHG Hotels & Resorts account for 66% of hotels and 71% of rooms in the entire African pipeline
Hospitality businesses rely on their employees to provide excellent service and maintain the brand image. This front-line reality makes talent management a crucial activity for any hospitality organization. As the saying goes: 'The people make the place.'
Due to what seems like an exponential rise in data complexity, combined with a reduction in time and resource, many Revenue Managers feel trapped, unable to extract the actionable insights they need to drive business performance - and the net is tightening. Luckily, hotel Business Intelligence (BI) is to the rescue.
'Only 12.5% of the accommodation in this hotel is occupied, which makes one ruminate.' So wrote the humorist, Moose Allain, on X, formerly Twitter. A nice joke but for hoteliers Revenue Management is no laughing matter.
REPORT: Hospitality Careers Are in Demand, Outpacing National Projected Growth
Savannah is one of the most desirable tourist destinations in the country, and visitation has skyrocketed since the onset of the pandemic. Some major expansion and development projects underway in the market should help support hotel metrics going forward.
U.S. hotel performance increased from the previous week but showed continued declines year over year, according to CoStar’s latest data through 16 March.
Canada's hotel industry reported a third consecutive month of occupancy declines but continued growth in average daily rate (ADR), according to CoStar's February 2024 data.