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CBRE forecasts RevPAR growth to improve in H2

Hotel Business

The company’s latest forecast projects a 2% increase in RevPAR growth for 2024, down from the 3% estimated in February. CBRE forecasts GDP growth of 2.3% Slower RevPAR growth reflects softer demand, stickier inflation and high interest rates,” said Michael Nhu, senior economist and CBRE’s head of global hotels forecasting.

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WITCE Wednesdays – Consumer Confidence (Economic Indicators)

A Sales Guy

Wednesday I’m going to cover consumer confidence. Consumer confidence is an economic indicator measuring how the general populace feels about the economy and their own person financial situation. There is also the Bloomberg Consumer Comfort Index and the Consumer Confidence Average, but I’m not going to go into those.

Consumer 107
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LE: U.S. construction pipeline remains steady

Hotel Business

According to the Q2 2023 United States Construction Pipeline Trend Report by Lodging Econometrics (LE), at the close of the second quarter, the hotel construction pipeline stands at 5,572 projects/660,061 rooms, with projects up 7% year-over-year (YOY) and rooms up 6% YOY. construction pipeline. hotel construction pipeline.

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LE: U.S. construction pipeline rises in all project stages

Hotel Business

In the latest United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that construction pipeline projects in the U.S. At the close of the first quarter, projects currently under construction stand at 1,051 projects/140,365 rooms, each showing 9% growth YOY. construction pipeline at Q1.

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CBRE reduces forecast for 2024

Hotel Business

CBRE is reducing its forecast for U.S. CBRE forecasts GDP growth of 2.3% Challenges including weakening consumer spending and increased competition from short-term rentals, cruise lines and other lodging alternatives pose downside risks.” The post CBRE reduces forecast for 2024 appeared first on hotelbusiness.com.

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LE: Upscale projects in China’s pipeline reach all-time high

Hotel Business

In the recently released China Construction Pipeline Trend Report from Lodging Econometrics (LE) , analysts report that the country’s total hotel construction pipeline, at the close of the fourth quarter, stands at 3,581 projects/675,074 rooms. Throughout 2022, there were 469 new hotels that opened in China.

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Hotel revenue management strategies and solutions

SiteMinder

It involves the use of data and analytics to help you keep track of supply and demand so you can make predictions on consumer behaviour. Many businesses where consumers spend money have varying prices based on demand, supply and shifts in costs. Forecasting Forecasting involves predicting future demand for rooms.