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Skift Take: CEO Elie Maalouf pointed to early results suggesting that IHG's recent marketing efforts and brand development work are leading to growth in a virtuous flywheel for the hotel group. Sean O'Neill Read the Complete Story On Skift
According to the recent Q2 2024 United States Construction Pipeline Trend Report from Lodging Econometrics (LE), at the close of the quarter, the five markets with the largest hotel construction pipelines are led by Dallas with 189 projects, just four projects shy of its record-high at the end of Q4 2023, and a new record-high 22,392 rooms.
Construction Pipeline Trend Report released by Lodging Econometrics (LE) , LE analysts report that as a group, year-over-year the hotel construction pipeline has grown in the top 25 markets in the U.S. Year-over-year, the top 25 markets in the U.S., pipeline rose 20% by projects and 30% by rooms YOY.
TFE Hotels is an owner, manager and developer and we see their impressive presence in multiple markets – which includes more than 50 properties in Australia, a strong pipeline of properties and ties to Singapore and Europe – as complementary to our vision for the future,” said Heritage Hotels’ Managing Director, Jeffrey Tang.
Construction Pipeline Trend Report from Lodging Econometrics (LE), the market with the largest hotel construction pipeline by projects is Dallas with a record high count of 176 projects, accounting for 20,790 rooms. In 2024, Atlanta is forecast to open the most new hotels, with 26 projects/3,881 rooms, for a 3.4%
Hotel asset management firm Axsia HTL is predicting a drop off in hotel management agreements (HMAs) in 2024 and beyond as more owners opt in favour of franchise agreements, which are predominate in the US market. It’s an ecosystem,” he said.
Construction Pipeline Trend Report by Lodging Econometrics (LE) sheds light on dynamic trends across key markets. Dallas looks set to maintain its momentum; leading both projects scheduled to start in the next 12 months and early planning stages of the hotel construction pipeline. Forty-three of the top 50 markets in the U.S.
The markets with the most projects currently under construction at the Q2 close are New York with 47 projects/8,201 rooms and Phoenix with 29 projects/6,064 rooms. LE recorded a combined renovation and conversion pipeline total of 1,939 projects with 253,473 rooms for the U.S. Reflective of the current pipeline, L.E.’s
Localized in Southeast Asia, RevPAR levels are just below 2019 levels by less than 2%, driven by high average daily rates (ADRs) as the market saw a shift in consumers’ willingness to pay for quality both product and experience. In 2024, JLL forecasts that value-add opportunities in Southeast Asia will be on the radars of investors.
ABM, Account Based Marketing, we’ve all heard about it. (If Here are 5 tactics you can use right now to close larger deals with Account Based Marketing and Sales Development. What if you could leverage your SME, marketing manager, engineer, or any other resource on your team in an active sales cycle? Well, it kinda is.
Construction Pipeline Trend Report from Lodging Econometrics (LE), the top five markets with the largest hotel construction pipelines by projects at Q3 2023 are led by Dallas with an all-time high of 189 projects/21,840 rooms, followed by Atlanta with 140 projects/17,775 rooms and Nashville with 122 projects/16,046 rooms.
Lodging Econometrics (LE) has released the Q1 hotel development data for the Charlotte market ahead of the Hospitality Industry Technology Exposition and Conference (HITEC). markets by project counts. Within the Charlotte market, at the close of the first quarter, hotels under construction stand at 11 projects/1,435 rooms.
The number of projects in the hotel construction pipeline in the U.S. Despite this robust pipeline, new hotel openings have not yet returned to pre-pandemic levels. Based on developer opening dates, LE is forecasting an additional 547 projects, totaling 60,483 rooms, to open by year-end 2024.
Lodging Econometrics (LE) has released the latest on hotel development for the New York City market, prior to the NYU International Hospitality Industry Investment Conference. Of the top 50 markets in the U.S., Of the top 50 markets in the U.S., The market also was the leading market for construction starts in Q1 2024.
Construction Pipeline Trend Report from Lodging Econometrics (LE) reports that, at the close of the first quarter, the top five markets with the largest construction pipelines are led by Dallas with 185 projects/21,882 rooms, slightly below record-highs recorded at the end of Q4 2023. The recent U.S. In the top 25 U.S.
In the Q2 ‘23 Global Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts state that the total global construction pipeline stands at 14,572 projects/2,310,238 rooms, up 3% year-over-year (YOY) by projects and 1% YOY by rooms. LE analysts forecast a total of 2,531 new hotels with 380,515 rooms to open in 2023.
Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. The details can be seen directly within the stages of the pipeline, which all saw YOY growth in Q1. As seen in the Q1 2024 U.S. resulting in a 1.5%
Hotel Construction Pipeline Trend Report paints a picture of robust growth and strategic focus. The widespread distribution of these projects across numerous markets, coupled with the strong presence of established brands, suggests a confident outlook for the hospitality industry. Lodging Econometrics’ (LE) Q2 2024 U.S.
Both Melbourne and Sydney properties are forecasted to have 100% occupancy during concert dates and transient revenue is up to 30% stronger in comparison to other popular concerts,” Hutton told HM exclusively, noting that many hotel guests are asking if they are able to decorate their rooms with Taylor merchandise. ‘On
Hotel renovation and conversion pipeline activity, at the end of the fourth quarter of 2022, is at the highest totals Lodging Econometrics (LE) has ever recorded. Renovations and conversions account for more projects and rooms than those that are currently in the under construction stage of the new construction pipeline.
In the most recent Construction Pipeline Trend Report for the U.S. construction pipeline stood at 5,465 projects/650,626 rooms, up 14% by projects and 12% rooms year-over-year (YOY). The renovation pipeline also remained strong in Q4, reaching the highest project counts since Q1 2019, at 900 projects/148,105 rooms.
Construction Pipeline Trend Report from Lodging Econometrics (LE), at the close of the quarter, the five markets with the largest hotel construction pipelines are led by Dallas with 189 projects, just four projects shy of its record-high at the end of Q4 2023, and a new record-high 22,392 rooms. As of the end of Q2, five U.S.
These top five markets combined account for 732 projects/88,904 rooms. markets stand out for their active under-construction hotel projects. Dallas also tops the list of markets with the most hotel projects in the early planning stage at Q3, with 91 projects that will add 10,652 rooms. According to the Q3 2024 U.S.
While OTAs provide valuable visibility and access to a broader audience, the study makes clear how the extra costs associated with rate undercutting significantly impact hotels marketing budgets and overall profitability. The research underscores the need for hotels to take a holistic view of their digital strategy.
eInsight Sales and eInsight CRM allow users to manage all demand and their sales pipeline across transient and corporate business in one platform. ” The combined solution features chainwide contact; activity tracking and reporting of sales activities; contracts; sales leads and opportunities; production; and future reservations. .
At the close of the third quarter, Lodging Econometrics (LE) analysts report that the New York City market has a total of 102 projects/17,805 rooms in the construction pipeline, the fourth largest pipeline by rooms of any market in the U.S. Of the top 50 markets in the U.S., Of the top 50 markets in the U.S.,
HVMG outpaced the industry in RevPAR growth during 2022, as same-store market share grew 6.9%, capping off the company’s eighth straight year of positive consolidated Index growth, the company reports. That outperformance has continued into 2023 with same-store RevPAR growth forecasted to increase 30% over 2022 in the first quarter.
The top five features listed by RMS users are: Automated pricing recommendations Real-time insights Quick and efficient forecasting Ease of use Market intelligence data Tech Investment Set to Continue Hotel tech spending continues to increase, with 60.7% of respondents saying they had spent more in 2023 compared to 2022, and 71.4%
Successfully marketing an event relies on creating and capturing demand throughout the entire event registration process. Breaking down event marketing into stages allows event planners to appeal to different audiences at different times throughout the registration process. Market early bird benefits as “VIP perks.”
This achievement underscores Choice’s rapid expansion in the economy and midscale extended-stay market. Across the hospitality industry, the company has the fastest-growing economy extended-stay portfolio and leads in the economy new-construction category, according to STR pipeline data through August. 1 and Sept.
Read Tonys article.recently published in Bank Insurance & Securities Marketing Magazine! sales pipeline (1). Interesting that over the last 2 years, as many organizations struggle to meet budget, goal and forecast, the suggestion here is to raise the bar. Marketing boils down to providing unique value. Alltop.com.
Read Tonys article.recently published in Bank Insurance & Securities Marketing Magazine! sales pipeline (1). Your job to put the best possible team into the market may be one of the most difficult jobs in any company. Often, when things are tough, everyone wants to re-forecast downward. Tony Cole on TV. Alltop.com.
Amidst a burgeoning hotel development pipeline in the U.S., hotel construction pipeline reached its highest level for projects with 5,964 projects and 693,963 rooms. construction pipeline. This forecast translates to the opening of 551 new extended-stay hotels, accounting for a total of 56,347 rooms within the next two years.
. “With limited new hotel supply and surging travel demand, new assets are positioned to outperform, especially in the post-COVID era, where strong fundamentals and market dynamics create significant opportunities. Global travel spending is forecast to reach $15.5
has opened Everhome Suites Nampa Boise in Nampa, ID, marking the midscale extended-stay brand’s third opening, with more than 10 open hotels forecasted within the next year. Hotel demand in the market is expected to come from a mixture of healthcare, leisure and advanced manufacturing, according to Choice.
Instead, the internet and the proliferation of information, the smartphone, the new business models based on organizing underutilized assets, and the glut of competitors in every market made selling much more difficult than earlier times. For many, forecasting is necessary to ensure they have the resources to serve their clients.
Finally, Ronen Nissenbaum of Fattal Hotels highlighted some unevenness in the UK’s hotel recovery; key city markets like Edinburgh and London have demonstrated significant growth, while regional areas haven’t quite caught up yet. See also: The State of Hospitality 2024 (Free Report) 3. in 2023 to 29.7%
Meanwhile, late in 2018, CBRE forecasted that hotel supply would peak at 2% gain, stabilizing to 1.9 With the development pipeline slowing and event demand growing, it promises a rise in group hotel rates. But what’s driving the effectiveness of event marketing, and really, meetings demand as a whole?
Events became the professional development pipeline for that generation.” Meanwhile, according to the AMEX Global Meetings Forecast , the numbers of meetings annually has only grown 5.4% ” For these reasons, millennials value networking over almost any other aspect of events. Where you meet matters more than ever before.
Events became the professional development pipeline for that generation.” Meanwhile, according to the AMEX Global Meetings Forecast , the total numbers of meetings annually has only grown 5.4% ” For these reasons, millennials value networking over almost any other aspect of events.
According to Kelsey Fenerty, manager of Analytics at STR, globally, most markets have now almost reached pre-pandemic demand levels and far exceeded pre-pandemic ADR and RevPAR levels; most regions anticipate continued YOY growth in RevPAR this year as well. Markets with lighter pipelines tend to be geographically constrained (e.g.,
Marc Saunders, director of marketing at Splendid Hospitality, also believes there is opportunity to drive revenue by activating hotel spaces with retail partnerships. Every interaction is an opportunity to sell in a smart way,” says Adir Ron , chief marketing officer at Duve. Hyperlocalisation.
“We raised our full-year RevPAR outlook while maintaining our record level pipeline and industry-leading net rooms growth. Pipeline of executed management or franchise contracts was approximately 117,000 rooms. Hoplamazian, president/CEO, Hyatt. Comparable All-inclusive Net Package RevPAR increased 33.2% billion with $1.05
The real estate market is saturated with professionals vying for the same customer pool. Real estate lead generation needs a clever use of effective marketing tactics in order to attract and convert potential clients into meaningful leads. Real estate lead generation is an essential component of industry success.
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