Hotel Management
JULY 26, 2023
Australia’s accommodation market has continued to expand with the opening of around 3,420 rooms through 2022 in the 10 major markets. 2023 now presents as the peak of the hotel accommodation supply cycle. This will result in a 10% increase on the December 2021 base inventory.
Hotel Business
MAY 15, 2023
According to the latest China Construction Pipeline Trend Report from Lodging Econometrics (LE), China’s total hotel construction pipeline stands at 3,659 projects/680,959 rooms at the end of Q1‘23, down 1% by projects and 3% by rooms year-over-year (YOY). In the first quarter, China opened 78 hotels/14,335 rooms.
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Hotel Management
AUGUST 15, 2023
In her keynote speech at the 2023 GBTA Convention, GBTA Chief Executive, Suzanne Neufang, admitted the association got the forecast wrong last year – expectations were for a mid-2026 forecast – but there were no complaints about getting it wrong as she was thrilled with the renewed optimistic outlook.
Hotel Management
MAY 1, 2023
The 160-key lyf property, on Sussex Street in Sydney, is the third Australian property for the co-living brand and follows the opening of lyf Collingwood in May 2022, with a Bondi Junction property, currently under construction, due to open next year. Ascott is aiming for a mid-2025 opening.
Hotel Business
FEBRUARY 15, 2024
hotel construction pipeline reached its highest level for projects with 5,964 projects and 693,963 rooms. The extended-stay under-construction phase exhibited significant year-over-year (YOY) expansion, escalating by 40% in projects and 37% in rooms, culminating in 396 projects and 41,257 rooms at the close of Q4 ’23.
eZee Absolute
DECEMBER 7, 2023
This myth has gained momentum because RM services are being adopted majorly by high-end accommodation providers. Myth #5: Budgeting and demand forecasting aren’t important in revenue management When it comes to hotel revenue management, budgeting and demand forecasting play a crucial role. Again, this is not true.
Hotel Business
AUGUST 15, 2023
These are the central findings from the latest 2023 GBTA Business Travel Index Outlook – Annual Global Report and Forecast published by the Global Business Travel Association in collaboration with Visa. While a promising rebound is expected, there are several factors that could influence the industry’s longer-term forecast.
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