Hotel Business

APRIL 14, 2023

A total of 179 deals were announced in the global travel and tourism sector during the first quarter (Q1) of 2023, which is a 40.7% All the deal types under coverage, comprising mergers & acquisitions, private equity and venture financing deals, witnessed a considerable year-on-year (YoY) decline in deal volume in Q1 2023.

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Revenue Hub

JANUARY 17, 2023

If you were hoping for certainty in 2023 after years of turbulence across the travel and hospitality industry, then you’re probably going to be disappointed. However, we’re here to pierce the mists of the future using our proprietary datasets and guide you through 2023 with our top trends. The outlook?

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Hotel Owner

APRIL 15, 2024

Hotel insolvencies have increased by 19% in the last year, from 127 hotel companies in 2022/23 to 151 in 2023/24, as operation costs have continued to rise, UHY Hacker Young has revealed. Meanwhile, room occupancy among hotels with less than 25 rooms has continued to fall from 69% in February 2023 to 64% in February 2024.

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Hotel Business

NOVEMBER 29, 2023

domestic travel demand entered the fourth quarter on a slow note in October, continuing a pullback seen in September. In October, Omnitrak’s Travel Market Penetration Index edged downward to 98.7 and prior month September 2023 (100.7) Looking ahead, lower gas prices and AAA’s forecast of a 2.3% index levels.

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Hotel Owner

JUNE 14, 2023

Meanwhile, those who are heading overseas might be gasping at the price of their regular beach-side cocktail, due to a weak pound. In addition, what has been previously coined as ‘blended travel’ – mixing business with leisure and tagging on a few days of sightseeing to a business trip – is seeing a rise.

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SiteMinder

SEPTEMBER 25, 2023

Big picture Humans are wired to travel. In recent years, time without its magic has only served to make it more valuable, meaning that while external forces may push us to adapt, travel can now never be compromised. Most (57%) intend to travel more. Only 9% intend to travel less.

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Boutique Hotel News

JANUARY 27, 2023

Z is for zero carbon Probably the biggest issue facing the real estate sector – and by extension travel and tourism – is reaching net zero carbon, both in construction and operationally. 2023 is likely to see further political and economic uncertainty which will see winners and losers on the exchange rate see-saw.

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SiteMinder

FEBRUARY 28, 2023

Many parts of the world are excited about the prospect of travellers from mainland China returning to their shores but, while your hotel can certainly benefit from the opportunity, there are no simple answers when it comes to planning and preparing for this. It also allowed citizens to travel during the Lunar New Year celebrations.

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Revenue Hub

JULY 10, 2023

Consumer spending on travel has shown remarkable resilience, as people eagerly plan vacations to popular destinations around the world. When accounting for inflation, North American properties have comfortably exceeded their 2019 pricing levels, thanks to robust consumer spending on services.

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Revenue Hub

DECEMBER 14, 2022

Many hoteliers worry about how the economy will develop in 2023 and how this will affect travel and tourism. In their publication “The World Ahead 2023,” the Economist predicts that the recession will be mild in the US, deeper in Europe, and extended in the UK. NB: This is an article from Demand Calendar.

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SiteMinder

FEBRUARY 8, 2024

What are Chinese travellers? Chinese travellers are individuals residing in China who travel domestically within their country or internationally to various destinations around the world. Table of contents Why should you capture the attention of Chinese travellers?

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Hotel Owner

OCTOBER 9, 2023

in 2024, despite an expected softening of leisure travel demand, according to the latest annual hotel monitor from American Express. Amex data found that rates in more locations globally during 2024 are likely to continue to rise, despite an expected softening of leisure travel demand. Hotel rates in London are likely to increase 9.1%

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Hotel Business

FEBRUARY 22, 2023

SiteMinder’s new Hotel Booking Trends report, a hotel commerce data analysis of more than 36,000 hotels and 450+ connected booking integrations, has revealed travelers booked their trips on average eight days earlier, and canceled their bookings 17% less year-on-year in 2022, despite a 24% increase in the average daily hotel room rate.

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Serviced Apartments

MAY 4, 2023

UK: The UK’s travel and tourism sector is expected to see a boost of more than £200 million as a result of King Charles III’s Coronation weekend [6-8 May] and fortnight around those dates, as consumers travel across the country to celebrate with friends and millions across the UK make the journey to London to catch a glimpse of the historic event.

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InnQuest

JUNE 6, 2023

When it comes to the future of online travel agencies (OTAs) and their role in the hospitality industry, there are a few key trends and factors to consider. As technology continues to advance, the future of online travel agencies looks promising, with several key trends reshaping their role in the hospitality industry.

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STAAH

JULY 25, 2023

There are an estimated 23 million digital nomads worldwide as of 2023. Digital nomads generally combine remote work and travel for various reasons and lengths of time. Obviously they love travel, but here are a few things you need to know about these travellers. And this figure is growing. Who are digital nomads?

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Revenue Hub

JULY 17, 2023

According to Expedia Group’s 2023 Traveller Value Index Report, there is countless evidence that all types of travel will continue growing with velocity this year. Source What else is happening in the tourism and hospitality industries?

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Hotel Owner

NOVEMBER 8, 2023

London has been named the most attractive European city for hotel investment in the coming year, according to the 2023 European Hotel Industry Survey by Deloitte. Despite this, the pressures of high inflation, labour shortages and greater energy prices meant that 28% of respondents expect 0% or negative GOPPAR growth in London in 2024.

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Hotel Owner

MAY 16, 2024

Edinburgh has been awarded the top position in Colliers’ annual UK Hotel Market Index (UKHMI) due to its strong performance in both occupancy and average daily room rate (ADR) during 2023. After its initial entrance within the top 10 during the 2023 index, Inverness has now firmly established itself in third place.

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SiteMinder

FEBRUARY 13, 2023

SiteMinder’s new Hotel Booking Trends report, the only hotel commerce data analysis of more than 35,000 hotels and 450+ connected booking integrations, has revealed travellers booked their trips on average eight days earlier, and cancelled their bookings 17% less year-on-year in 2022, despite a 24% increase in the average daily hotel room rate.

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SiteMinder

NOVEMBER 6, 2023

The partnership sees easyJet holidays integrated into SiteMinder’s platform, so listed hotels can offer dynamic room rates to travellers and make their full inventory bookable. Additionally, bookings are largely being made by travellers close to their date of arrival.

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Boutique Hotelier

FEBRUARY 16, 2023

We caught up a handful of excellent hotel chefs to discover what’s on their menus for 2023 and how they are working to overcome the challenging F&B landscape over the next 12 months. What challenges are you facing with both menu creation and sourcing the right suppliers at the right price? How do you decide on new menus?

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SiteMinder

MAY 6, 2024

SiteMinder’s platform compared bookings from 19-25 April 2024, the week of Madonna’s five-night residency in Mexico City, to the same dates in 2023. Year-on-year, prices increased by US$60, and were US$25 higher than the week immediately prior to the concerts, highlighting the tour’s impact.”

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SiteMinder

FEBRUARY 25, 2024

Table of contents Latest news in the hospitality industry A year of increased stability and growth At the beginning of 2023 the focus was firmly on growth, particularly given the effects of COVID on the travel sector over the preceding years. Almost one in five hotel rooms booked online are cancelled prior to travel.

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Hotel Owner

JANUARY 27, 2023

Figures released by Daish’s Holidays support a recent survey from GoCompare stating that the percentage of people who will choose a staycation in 2023 has more than tripled. It has risen from 12% to 41%.

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Hotel Owner

OCTOBER 11, 2022

In 2022 hospitality firms have a clean slate, with UK hotel prices forecast to rise by 8% in 2023, while London has seen a 26% increase in footfall across the past summer as the return of international travel and annual events, such as the Notting Hill Carnival, drew visitors back to the capital.

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SiteMinder

MAY 8, 2024

The increase was also significant when compared to the rate of THB 4,949 (US$135) during the week prior to Songkran, which further highlights the holiday’s influence on the local hotel and travel industry. Furthermore, domestic travellers in April reached their highest levels since October of 2023.

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Hotel Owner

FEBRUARY 5, 2024

With 2023 already consigned to history as the year of tourism recovery, the hospitality industry – starting in 2024 – now finds itself facing a scenario where actors who began making waves a few years ago are now consolidating their positions. Technology is, ultimately, the only path to survive and stand out in the tourism sector.

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Hotel Business

APRIL 24, 2023

For roughly the last year—and, surely, since the start of this year—we’ve written about the return of travel, predominantly in the leisure sector. Our panelists for various Hotel Business Hot Topics sessions and our subjects of various Q&As have all been quite bullish about the uptick in travel and tourism post-pandemic.

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Hotel Owner

FEBRUARY 9, 2024

Pan Pacific London has secured the Forbes Travel Guide Five-Star Award for the third consecutive year since its establishment in September 2021. The report highlights dynamic pricing as acceptable, particularly for hotel and airline fares, emphasising the importance for the travel industry to understand evolving consumer behaviours.

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Revenue Hub

JULY 28, 2023

Generally speaking, summer 2023 is going well for hotels so far. Travel demand is looking strong since June up until September 2023, with recent analysis showing pickup of 23% in June 2023 vs June 2022. Spain’s tourism minister , Héctor Gómez, has called it “a historic summer for tourism,” with 8.2

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Hotel Owner

JANUARY 25, 2024

The UK and The Netherlands exhibited consistent strength in both leisure and corporate travel, driving occupancy and average rates. Forward bookings for 2024 mirror those of 2023, with a gradual return to pre-pandemic booking patterns. Construction has commenced on the project.

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Hotel Owner

FEBRUARY 8, 2023

As we look towards the course of 2023, is there light at the end of the tunnel? International travel restrictions stimulated ‘the great British staycation’, which caused hotels to experience buoyant trading performances across coast and country markets. Yet, the sector has faced a significant period of turbulence in recent years.

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Revenue Hub

OCTOBER 20, 2023

Subscribe to our weekly newsletter and stay up to date GOP Margin by Country 2019 – 2023 1. 2023 Hotel Performance: Growth Is Slowing In UAE, Saudi Arabia, India, Brazil, and the Caribbean, hotel profit margins in the first half of 2023 well surpassed 2019 levels, whereas they lagged in the UK, Germany, Spain, Poland, and Qatar.

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Hotel Business

MAY 1, 2023

In first-quarter 2023, Accor once again stepped-up business growth across all regions and in its two divisions: premium, midscale and economy; and luxury & lifestyle,” said Sébastien Bazin, chairman/CEO, Accor. In first-quarter 2023, Accor opened 36 hotels (around 4,400 rooms), and has achieved net network growth of 2.9%

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eZee Absolute

FEBRUARY 27, 2024

Pilgrimage tourism is a significant aspect of India’s tourism sector. According to NDTV.com, In 2023, more than 9.5 They also had to make sure they had enough rooms available for guests and that their prices were just right. The Challenges Vaishno Devi attracts millions of devotees each year.

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Revenue Hub

NOVEMBER 29, 2022

We have asked the questions: can rising costs be passed along to the consumer and what does the current inflation environment say about hotel pricing over the next few years? ADRs Exhibit ‘Sticky Pricing’. vs r=0.47), indicating that ADRs more closely track changes in consumer pricing when inflation is high.

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