article thumbnail

Australia’s Hotel Industry – Into 2023 and Beyond 

InnQuest

in 2023 (IBISWorld). The contribution to GDP of the tourism industry on the whole is currently 1.6% (Statista). Other figures from Statista are as follows: Australia’s hotel segment specifically is forecasted to see revenues of US $6.75 From 2018-2023, the industry within Australia declined by 4.9% are 45-54; and 13.6%

article thumbnail

LE: Dallas leads U.S. hotel construction pipeline

Hotel Business

hospitality industry, the Q4 2023 U.S. Construction Pipeline Trend Report by Lodging Econometrics (LE) sheds light on dynamic trends across key markets. Throughout 2023, the U.S. In the ever-changing landscape of the U.S. saw 474 hotel openings adding 60,436 rooms to the U.S. supply total. Looking ahead to 2024, the U.S.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

LE: Dallas hits all-time-high construction project count

Hotel Business

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.

article thumbnail

LE: Combined top 25 U.S. markets construction pipeline shows YOY growth

Hotel Business

In the Q1 2023 U.S. 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. LE is forecasting the top 50 markets to open 319 new hotels/42,743 rooms in 2023.

Marketing 105
article thumbnail

7 Trends Will Change How Hotels Handle Groups and Events Business

Revenue Hub

Bullish Forecasts According to Knowland, groups and meetings business is forecasted to recover to 106.4% of 2019 levels in 2023, and Amadeus reports that 64% of event professionals say their spending increased this year. Based on its Meeting Recovery Forecast , overall meeting volume will surpass 2019 levels in mid-2023.

Events 87