Q1 2018: Forecasting US hotel industry performance
The U.S. hotel industry turned out better than predicted performance numbers for 2017. This was the result of a generally more robust economy, decreased unemployment, and a rise in consumer confidence. Industry experts from STR, PwC and CBRE have now published their Q1 2018 projections for the U.S. hotel industry. Predictions for the first quarter of 2018 are optimistic, but cautiously so in light of challenges the industry faces in the coming year. Full Story Here:
Survey: Big Increase in Travel Frequency Expected in 2018
The results of a survey conducted by The GO Group, LLC has been published which indicate a likely increase in both business and leisure travel during 2018. The survey respondents were asked about their trade plans for the year and 27 percent said they plan on more business travel in 2018. Further, 33 percent of those surveyed stated they expected to travel more for leisure during the coming year. Only 6 percent of respondents planned on less business or leisure travel in 2018. Full Story Here:
Travel industry to launch coalition in response to drop in international visits to U.S.
In response to a decline in international tourism to the U.S., according to a report by the National Travel and Tourism Office, the U.S. Travel Assn. is launching a campaign to reverse the downturn. The trade group is forming a coalition with “Visit USA”. The campaign is designed to present a message to the world that the U.S. welcomes international visitors. Full Story Here:
STR: US hotel results for week ending 30 December
Compared to the same period last year, the U.S. hotel industry reported declines in all three key performance figures for the week of 24-30 December 2017. According to data published by STR, industry-wide occupancy fell -5.4 percent to 51.6 percent for the week. Average daily rate dropped -1.4 percent to finish the week at $131.56. Revenue per available room was down by -6.7 percent to end the week at $67.90. The negative performance is attributed to the comparison week in 2016 including New Year’s Eve. Full Story Here: