Hospitality Net

AUGUST 27, 2023

Yield management allows hotels to manage the capacity of their rooms more profitably, and the accuracy of statistical forecasting determines how useful it will be. Inaccurate forecasts can result in decreased revenue, earnings, and operational challenges, which makes getting it right critical.

Forecasting 188

Forecasting Yield Management Cancellation Revenue Management 188

Hospitality Net

FEBRUARY 12, 2024

As hospitality businesses navigate a “new normal” in 2024, many of the top owners and operators have shifted focus from traditional annual budgeting to a more dynamic and responsive forecasting approach. Let’s explore key budget and forecasting strategies to guide you in 2024.

Forecasting 217

Forecasting Operations Hotels Business 217

Lodging

NOVEMBER 20, 2023

hotel forecast revision of 2023. Hotel Forecast Revision of 2023 appeared first on LODGING Magazine. HENDERSONVILLE, Tennessee—STR and Tourism Economics lifted year-over-year growth projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. For 2023, growth in RevPAR was raised by 0.3

Forecasting 290

Forecasting Average Daily Rate Occupancy Tourism 290

Skift Blog

JULY 22, 2024

Skift Take: Business travel is roaring back, with global spending projected to surpass pre-pandemic levels in dollar volume this year. Face-to-face wins. Sean O'Neill Read the Complete Story On Skift

Forecasting 278

Forecasting Business Travel Management 278

Hospitality Net

OCTOBER 11, 2023

In the inaugural Further Forecast trend report by Design Hotels, we define six key themes over 158 pages of actionable insights, case studies, and interviews that will transform the industry in 2024 and beyond—and the way we travel today, tomorrow, and for years to come.

Forecasting 246

Forecasting Consumer Hotels Travel 246

Hospitality Net

JANUARY 29, 2024

Las Vegas hotel average daily rate (ADR) is forecasted to reach $573 for 9-11 February 2024, which would be the highest level for any Super Bowl weekend on record, according to STR.

Average Daily Rate 235

Average Daily Rate Forecasting Hotels 235

Hospitality Net

AUGUST 10, 2023

hotel forecast just presented at the 15th Annual Hotel Data Conference. STR and Tourism Economics lowered their year-over-year growth projections in the revised 2023-24 U.S.

Forecasting 245

Forecasting Tourism Hotels 245

Hospitality Net

JANUARY 25, 2024

Total international visitor arrivals to the Greater Bay Area (GBA) are forecasted to recover to the pre-pandemic level at close to 130 million by the end of 2024, and the total number of inbound visitor arrivals to Hong Kong to recover to the 2018 level of 65 million by 2025.

Forecasting 240

Forecasting Tourism Closing Management 240

Skift Blog

JUNE 18, 2023

planemaker Boeing slightly raised its annual 20-year forecast for new jetliner deliveries, propelled by the strength of the narrowbody market fueled U.S. planemaker Boeing slightly raised its annual 20-year forecast for new jetliner deliveries, propelled by the strength of the narrowbody market fueled by demand from low-cost carriers.

Forecasting 229

Forecasting Market Marketing Tourism 229

Hospitality Net

JANUARY 18, 2024

Travel Association today released its biannual forecast for travel to and within the United States through 2027, showing international inbound travel and domestic business travel will continue to remain below pre-pandemic levels in 2024. The forecast, prepared by Tourism Economics, was released just days after U.S.

Forecasting 236

Forecasting Business Travel Tourism 236

Hotel Management

JUNE 6, 2023

STR and Tourism Economics have upgraded the 2023 United States hotel forecast, released at the 45th Annual NYU International Hospitality Industry Investment Conference in New York this week (June 5). from the previous forecast, but projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 1.5%

Forecasting 264

Forecasting Average Daily Rate Occupancy Tourism 264

Hospitality Net

JANUARY 23, 2024

hotel forecast of 2024 just released at the Americas Lodging Investment Summit (ALIS). STR and Tourism Economics ​made minimal adjustments to growth projections in the first U.S.

Forecasting 169

Forecasting Tourism Hotels 169

Hospitality Net

MAY 8, 2024

Right in time for IPW, the National Travel and Tourism Office (NTTO) shared updated forecasts that affirm the resurgence of international visits to the United States. According to NTTO, there were 66.5 million international visits the U.S.

Forecasting 130

Forecasting Tourism Travel 130

Hotel Business

MAY 17, 2024

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.

Forecasting 111

Forecasting Construction Occupancy Consumer 111

Hospitality Net

DECEMBER 12, 2023

Read up on risk scenarios, GDP growth projections and inflation estimates in our 2024 economic forecast report. But with an economic slowdown on the horizon, you need accurate data to analyse key indicators for market expansion. You’ll also find insights on the US, China, Eurozone and Brazil.

Forecasting 113

Forecasting Market Marketing 113

Skift Blog

JULY 25, 2024

Skift Take: Accor, the Paris-based hotel giant, predicts robust bookings and strong pricing power in the second half. Its executives aren't losing any sleep over airlines like Ryanair complaining about softening airfares. Sean O'Neill Read the Complete Story On Skift

Forecasting 238

Forecasting Business Travel Hotels 238

Hotelogix

JULY 18, 2024

Hotel forecasting, also known as hotel demand forecasting, is a strategic process that predicts future demand for hotel rooms and services based on historical data, market trends, and various influencing factors. What is Hotel Forecasting? Hotel financial forecasting helps hoteliers set targets by predicting fiscal outcomes.

Forecasting 52

Forecasting Average Daily Rate Occupancy Revenue Management 52

Lodging

JUNE 5, 2023

hotel forecast at the 45th Annual NYU International Hospitality Industry Investment Conference. percent from the previous forecast, but projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 1.5 Hotel Forecast ADR and RevPAR Projections appeared first on LODGING Magazine. percent and 1.3

Forecasting 147

Forecasting Average Daily Rate Occupancy Tourism 147

Hospitality Net

MAY 16, 2023

PVNG enterprise accounting and Targetvue budgeting and forecasting solutions from Aptech fit the bill for their ability to affordably give operators the insight, flexibility and control they desired.

Forecasting 228

Forecasting Hotels Operations Management 228

Skift Blog

JUNE 6, 2024

Skift Take: There are economic pressures and segment-specific challenges, such as growing supply in the luxury market. Sean O'Neill Read the Complete Story On Skift

Forecasting 274

Forecasting Market Marketing Hotels 274

Hospitality Net

JUNE 15, 2023

Travel Association released its biannual forecast for travel to and within the United States through 2026, showing a normalized rate of growth in the domestic leisure travel sector after months of elevated demand.

Forecasting 200

Forecasting Travel 200

Hospitality Net

AUGUST 18, 2023

According to the Fall Travel Forecast released today by Expedia®, Hotels.com® ® and Vrbo®, the surge in travel demand seen over the summer is projected to continue into the cooler months, with the travel brands showing year-over-year search increases for fall getaways.

Forecasting 188

Forecasting Travel Branding Hotels 188

Hospitality Net

MAY 23, 2023

The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals China’s Travel & Tourism sector’s GDP contribution is forecast to grow more than 150% this year.

Forecasting 201

Forecasting Tourism Travel 201

Hospitality Net

JULY 26, 2023

Speaking at a panel session at the Hyatt Regency Pravets Resort in Bulgaria today, World Travel & Tourism Council (WTTC) President & CEO Julia Simpson revealed that the WTTC 2023 Economic Impact Research (EIR) today forecasts that 10% of the Bulgarian economy will come from Travel & Tourism by 2033.

Forecasting 187

Forecasting Tourism Travel Resorts 187

Skift Blog

FEBRUARY 20, 2024

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

Forecasting 236

Forecasting Pipeline Hotels Branding 236

Hotel Designs

JANUARY 15, 2024

Hotel Designs Newmor releases its 2024 trends forecast Newmor releases its 2024 trends forecast Here are six trends that the expert design team at Newmor Wallcoverings have identified for 2024… Newmor Wallcoverings has unveiled its much-anticipated 2024 trends forecast.

Forecasting 99

Forecasting Market Marketing Hospitality 99

Hotel Business

JANUARY 25, 2023

Meetings Recovery Forecast (MRF) and associated Top 25 U.S. Meetings Recovery Forecast (MRF25), meeting volume outperformed in Q4 2022. The company also shifted the 2023 forecast higher than was predicted in Q3 2022. Knowland’s forecasts provide an overview of how the U.S. from the October 2022 forecast of 73.1%

Forecasting 104

Forecasting Market Marketing Events 104

Hotel News Resource

JUNE 3, 2024

hotel forecast just released at the 46th Annual NYU International Hospitality Industry Investment Conference. STR and Tourism Economics made significant downward adjustments to the 2024-25 U.S. The latest revision reflects lower-than-expected performance thus far in 2024 as well as lessened growth projections for the remainder of the year.

Forecasting 85

Forecasting Tourism Hotels Hospitality 85

Little Hotelier

MARCH 25, 2024

What is hotel forecasting? Hotel forecasting, also known as hotel demand forecasting, is a strategy that sees a hotel analyse historical data and trends to make predictions about future demand. Hotel forecasting reports are built on a foundation of data. Small, independent hotels might form quite basic forecasts.

Forecasting 52

Forecasting Cancellation Average Length of Stay Revenue 52

Hospitality Net

JUNE 5, 2023

hotel forecast just presented at the 45th Annual NYU International Hospitality Industry Investment Conference. STR and Tourism Economics upgraded the 2023 U.S. While top-line performance advances, growing operating expenses are projected to limit profit growth over the remainder of the year.

Forecasting 130

Forecasting Tourism Operations Hospitality 130

Skift Blog

MAY 29, 2024

Skift Take: Viking, the only pure-play luxury cruise line, has reported its first quarterly earnings since it went public. The company is targeting a English-speakers over the age of 55, a demographic with most of the wealth and a broad eagerness to travel. Sean O'Neill Read the Complete Story On Skift

Forecasting 279

Forecasting Travel 279

Hotel Business

SEPTEMBER 14, 2023

In 2023, LE is forecasting the Americas region to open 718 new hotels having 92,498 rooms. Most of the new hotel openings in 2023 will occur within the upper-midscale chain scale, where 288 projects/29,823 rooms are scheduled to open, followed by the upscale chain scale, where 180 projects/24,552 rooms are forecast to open.

Forecasting 116

Forecasting Pipeline Scale Construction 116

Hotel News Resource

NOVEMBER 20, 2023

hotel forecast revision of 2023. STR and Tourism Economics lifted year-over-year growth projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S.

Average Daily Rate 111

Average Daily Rate Forecasting Tourism Revenue 111

Skift Blog

JANUARY 5, 2024

Skift Take: Japan Airlines sees minimal financial impact from Tuesday's crash in Tokyo, and is even receiving compliments for its safety cutlure. Edward Russell Read the Complete Story On Skift

Forecasting 223

Forecasting 223

Demand Calendar

FEBRUARY 14, 2024

It's time for the hospitality industry to explore a more dynamic and responsive way of financial planning – prioritizing forecasting as the foundation for a truly effective budget. This shift will enhance adaptability, increase profitability, and empower data-driven decision-making – crucial advantages in today's market.

Forecasting 82

Forecasting Market Marketing Travel 82

Skift Blog

JULY 25, 2023

Skift Take: The Alaska Air Group's projected flat revenue growth is a major factor why shares dropped for some major U.S. carriers, another setback for an industry still fighting to make a full recovery from the pandemic. Rashaad Jorden Read the Complete Story On Skift

Forecasting 244

Forecasting Revenue Market Marketing 244

Skift Blog

OCTOBER 26, 2023

Skift Take: Accor is having a happy, "Emily in Paris" kind of year. High-spending Americans thronged Europe this summer, helping the hotel giant beat expectations for revenue and profit. Sean O'Neill Read the Complete Story On Skift

Forecasting 304

Forecasting Revenue Hotels 304