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million people will travel at least 50 miles or more from home over the Independence Day holiday period from Saturday, June 28 to Sunday, July 6. This year’s domestic travelforecast is an increase of 1.7 million travelers compared to last year and 7 million more than in 2019. —AAA projects that 72.2
DALLAS, TexasCBRE forecasted that revenue per available room (RevPAR) will grow modestly in 2025, driven by the continued outperformance of urban locations benefiting from increased group and business travel, as well as a projected rise in demand for drive-to and regional leisure destinations. CBRE projected a 1.3 CBRE projected a 1.3
million travelers will head 50 miles or more from home over the 10-day year-end holiday travel period. This year’s total number of domestic travelers is a 2.2 percent increase over last year and the second highest year-end travelforecast since 2000 when AAA began tracking holiday travel. —AAA projects 115.2
DALLAS, TexasCBRE forecasted that revenue per available room (RevPAR) will continue to grow in 2025, as urban locations continue to outperform due to improved group and business travel and continued recovery of inbound international travel. CBRE forecasts a 2.0 CBRE forecasts a 2.0
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
DALLAS, Texas—CBRE reduced its forecast for U.S. hotel performance this year as lodging demand softens due to weaker-than-expected leisure travel and slowing corporate profit growth. Hotel Performance Forecast, Lodging Demand Softens appeared first on LODGING Magazine. CBRE now projects a 1.2 percent estimated in May 2024.
million people will travel at least 50 miles from home over the Memorial Day holiday period from Thursday, May 22, to Monday, May 26. This years domestic travelforecast is an increase of 1.4 million travelers compared to last year and sets a new Memorial Day weekend record. WASHINGTON, D.C.AAA projects 45.1
Travel Association released its biannual forecast for travel to and within the United States through 2027, showing that international inbound and domestic business travel will remain below pre-pandemic levels in 2024. The forecast, prepared by Tourism Economics, was released after U.S. WASHINGTON—The U.S.
Skift Take: The increasing return-to-office push — as well as the ongoing steady travel demand — is certainly coming at the first time for Uber, which is in a prime position to make a massive rebound from a challenging 2022. Rashaad Jorden Read the Complete Story On Skift
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%
Skift Take: This might be the summer of travel, but the economic uncertainty still has consumers choosing value above anything else. Srividya Kalyanaraman Read the Complete Story On Skift
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
domestic leisure travel demand was expected, it is the increase in inbound international travel that has the U.S. Travel Association excited. Skift Take: While normalization of U.S. Jess Wade Read the Complete Story On Skift
million travelers will head 50 miles or more from home over the Thanksgiving holiday travel period. This year’s Thanksgiving forecast is an increase of 2.3 percent over last year and marks the third-highest Thanksgiving forecast since AAA began tracking holiday travel in 2000. WASHINGTON, D.C.—AAA AAA projects 55.4
Skift Take: The 2023 holiday travelforecast from AAA is one of the highest on record, marking a return to normal following the pandemic. Meghna Maharishi Read the Complete Story On Skift
travelers are looking for warm weather and affordable destinations during this year's spring break, and the Sunshine State tops the list of destinations in a new forecast. Skift Take: Most U.S. Jade Wilson Read the Complete Story On Skift
Led by Mitch Patel, founder and CEO of Vision Hospitality Group, the Market Overview: Financial Analysis and Forecast panel discussed various topics affecting the hospitality industry including the economy and a potential recession, the transaction market, and the hotel development landscape.
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. Skift Take: Viking, the only pure-play luxury cruise line, has reported its first quarterly earnings since it went public. Sean O'Neill Read the Complete Story On Skift
DALLAS, TexasCBRE forecasted that revenue per available room (RevPAR) will grow modestly in 2025, driven by the continued outperformance of urban locations benefiting from increased group and business travel, as well as a projected rise in demand for drive-to and regional leisure destinations. CBRE projected a 1.3 CBRE projected a 1.3
CBRE forecasts a 1.3% increase in RevPAR for 2025, driven by the continued outperformance of urban locations benefiting from increased group and business travel, as well as a projected rise in demand for drive-to and regional leisure destinations. CBREs forecast is predicated on an expected 1.4% year-over-year, respectively.
The global business travel market is now expected to reach 2019’s pre-pandemic levels by 2024, two years earlier than expected, following a year of significant gains over the last 12 months. Business travel spending is a key indicator, but how travel volumes will continue to rebound is yet to be seen,” she said.
Skift Take: Cancellations and no-shows for hotel reservations tend to be higher in summertime, which can significantly impact revenue for hotels and travel management companies (TMCs). Slicing and dicing data more granularly leads to better forecasting and may reduce potential revenue losses.
Oaks Hotels has shared its forecasttravel trends for 2025, based upon an analysis of guest data across its network of over 60 hotels in both bustling cities and scenic coastal destinations. days the average stay length for leisure travellers, compared to business travellers who typically stay for 3.1 days per trip.
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
million people will travel at least 50 miles or more from home over the Independence Day holiday period from Saturday, June 28 to Sunday, July 6. This year’s domestic travelforecast is an increase of 1.7 million travelers compared to last year and 7 million more than in 2019. million people will travel by car, a 2.2%
Skift Take: A new year means new resolutions and what better way to develop your 2024 professional resolutions than by attending Skift Megatrends, our most popular event forecasting the top trends that will define the travel industry for the year ahead. Nicole Meyer Read the Complete Story On Skift
hotel performance is expected to reaccelerate in the fourth quarter and extend into 2025, according to CBRE ’s latest forecast. CBRE now forecasts a 0.5% This revision reflects a 40-basis point (bps) decrease in expected occupancy compared to the prior forecast, with occupancy anticipated to decline by 30 bps year-over-year. “U.S.
Skift Take: Megatrends, our annual forecast of the top travel industry trends, is back for its another highly-anticipated program. Kick-start 2024 with unmatched thought leadership in New York City, London or Online. Jason Clampet Read the Complete Story On Skift
As the world gears up for another year of post-pandemic travel, the industry will see Asia take the center stage, driving growth in 2024 while Europe stabilizes at modest growth levels. Skift Take: Will Asia be the new Europe in 2024? Saniya Zanpure Read the Complete Story On Skift
Event-related occupancy forecasts are particularly impressive, given STR and JLL report Melbourne has welcomed 81 new hotels and over 5,200 rooms in the five-year period between 2019 and 2024, with another 2,000 rooms still to come, said Accommodation Australia (Victoria) General Manager, Dougal Hollis.
Skift Take: With hotel brands making major strides in customer ownership, it is time to start anticipating when direct bookings will outpace third-party sites. Pranavi Agarwal and Seth Borko Read the Complete Story On Skift
That should be a relief to anyone trying to explain why their travel budget looks so different now. Skift Take: It turns out that 2019 is no longer a good year to compare prices to. Sean O'Neill Read the Complete Story On Skift
Skift Take: All of Airbnb's competitors are vying for new listings, as well, so the company has some high targets to reach. And 2026 sometimes feels like it's a decade away; plenty of unknowns will shape prospects. Dennis Schaal Read the Complete Story On Skift
Skift Take: We expect to see cautious guidance from hotels and online travel agencies amid economic uncertainty, with varying levels of resilience across sectors. Pranavi Agarwal Read the Complete Story On Skift
CBRE’s latest forecast projects a 2.0 percent for the remainder of the year, driven by international tourists, holiday travel, and limited supply growth. CBRE forecasts GDP growth of 2.3 […] The post CBRE: RevPAR Growth Predicted to Improve in the Second Half of 2024 appeared first on LODGING Magazine.
population will travel more than 50 miles during last dozen days of the year. If weather cooperates, it could be the busiest travel period of the year. Skift Take: More than a third of the U.S. Sean O'Neill Read the Complete Story On Skift
This shift is driving travel companies to reevaluate which measurements they’re using to forecast revenues. Skift Take: The second installment of “The Data Snap” article series examines an unusual market trend: Hotel rates are on the rise while agency commissions are stabilizing. Onyx CenterSource Read the Complete Story On Skift
hotel forecast Second-quarter slowdown and macroeconomic headwinds weigh on RevPAR outlook, with modest recovery expected in the second half of the year Jun 12, 2025 Consulting firm PwC has revised its 2025 U.S. hotel performance forecast downward, citing economic uncertainty, geopolitical tensions, and a soft second quarter.
Skift Take: Despite talk of economic uncertainly going on two years, Booking Holdings' results – and forecast – indicate travelers still aren't slowing down. Justin Dawes Read the Complete Story On Skift
Make sure not to miss our most popular event as we kick start the year forecasting the top trends that will define the travel industry for the year ahead. Skift Take: Megatrends is back for its 12th year in New York City and London. Nicole Meyer Read the Complete Story On Skift
According to American Express Global Business, during the third quarter of 2022, business travel reached 71% of pre-pandemic levels. Another report forecasted that […] The post Five Best Practices to Increase Market Share and Gain Loyal Guests for Resorts appeared first on LODGING Magazine.
Skift Take: Hilton's latest results suggest travelers aren't hitting the brakes yet. The hotel giant maintained its optimistic outlook despite lingering economic uncertainties, particularly in the vital business travel segment. Sean O'Neill Read the Complete Story On Skift
Here, Travel and Leisure Co. In 2023, we saw an elevated interest in vacation ownership and an overall demand for membership travel internationally. Travellers are looking for alternatives in this inflationary economy and this is where vacation ownership shows its strength, as points never change over time.
Luxury travel demand surged in 2023 and continues to rise and with Savills forecasting a 52.8 CHICAGO—Hyatt Hotels Corporation showed during ILTM Cannes a pipeline of over 50 luxury and lifestyle hotels set to open worldwide by 2026.
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