Slightly more conservative across the board, yet positive in outlook, European meeting professionals expect a moderate increase in activity level compared to North and Latin American regions. However, high levels of optimism regarding the overall health of the industry are firmly in place. 79% said they would rank their confidence level as 8 or higher on a scale of 1 to 10.
This report and accompanying Commercial Effectiveness Organizational Assessment was created by the HSMAI Commercial Strategy Workgroup. HSMAI’s Commercial Effectiveness Organizational Assessment allows a hotel organization (individual hotel, management company, ownership group, or brand) to assess and score their implementation of the 11 key drivers of commercial excellence.
In the first quarter of 2024, the number of issued flight tickets have shown a steady increase, currently reaching just 32% under Q1 2019 levels. As of April 3, bookings for the upcoming May holiday are only 13% down when compared to the same period in 2019.
Top destinations for U.S. travelers include major cities like New York and London, as well as beach destinations like Cancun and Honolulu.
Hospitality management platform Cloudbeds has observed a moderate (1%) uptick in medium-term stays globally in 2023, accompanied by a slight decline of 2% in short stays.
Summer travel in 2024 will be 'expensive in every way,' says Katharine Nohr. And she should know.
We have long understood successful goods branding, but we have not studied how successful services branding differs from that of goods branding. This article attempts to fill that void by analyzing 11 years of data in an empirical study of goods and service brands to determine how service brands succeed.
New study shows Gen Z and Millennials are willing to travel the farthest and spend the most to attend destination events
The volume of U.S. hotel rooms under construction grew year over year for the first time since June 2023, according to CoStar’s March 2024 data.
The 60% range for the event period (26 July - 11 August) is up from 50% three months ago. For context, the weeks leading up to the opening ceremony show occupancy on the books in just the 20% range.
January's total revenue growth of 3.0% failed to offset the 220-basis point contraction in margins, causing a 5.7% decrease in GOP dollars as labor costs from rising wages continued to pressure operating profit.
UN Tourism has partnered with the European Committee of the Regions for a comprehensive study of the significant impact and potential of tourism in fostering socio-economic development in rural areas.
xpect to see a rise in the price of large hotels and a decline in prices for small hotels next quarter based on our leading indicators of hotel price performance.
The Americas is the only world region that showed a year-over-year increase in pipeline activity at the end of the first quarter, according to March 2024 data from CoStar.
Most of the largest global countries saw RevPAR decline as well, which is in line with past years and the Easter holiday.
As Brazil gears up for its mid-year holidays in July, destination managers and businesses are turning to travel intelligence to gain a competitive edge by effectively forecasting demand. With domestic travel within Brazil showing increased interest during this year?s holiday season, having access to accurate and timely data is crucial for success.
During his recent conversation with Ryan Embree for the Hospitality Trailblazers series on the Suite Spot podcast, President and CEO Charles E. Oswald talked through his trends and predictions for 2024. Here, Charles expands on those thoughts.
The market's highest daily occupancy level was seen on Saturday, 16 March (98.6%) - the night of the final round of the Six Nations championship between Scotland and Ireland at Aviva Stadium. The market's daily occupancy levels were above the 70% mark throughout the month apart from two days.
U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 6 April.
Helped by the annual Saudi Arabian Grand Prix, Jeddah's hotel industry reported performance growth across the metrics, according to March preliminary data from CoStar.
The host of six Taylor Swift concerts, Singapore's hotel industry posted its highest March average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar.
The Knoxville hotel market’s recent performance trends are catching the attention of regional and national investors, and for good reason. With a slew of new developments, the city is fast becoming a sought-after destination for both business and leisure travelers.
As U.S. hoteliers foresee another summer of softer leisure demand, events such as concerts, youth sports and family events are driving forward bookings.
In the hospitality industry, traditional metrics like revenue performance and guest satisfaction have long been the go-to indicators for assessing a hotel's business health. However, as businesses increasingly acknowledge the vital role of talent in achieving success, talent retention has emerged as a paramount concern, which we explore in this excerpt from the HSMAI Foundation Special Report: The State of Hotel Sales, Marketing, and Revenue Optimization Talent 2023-2024.
The annual Canada Hotels & Chains Report examines the country's hospitality industry, highlighting its growth despite challenges such as inflation and interest rates.