Hospitality Sales and Marketing Association International
Hospitality Sales and Marketing Association International
 
Hospitality Sales and Marketing Association International
research reports

2014

April

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The TravelClick Perspective April 2014
The hotel industry outlook for the top 25 North American Markets is showing an increase of 4.3% in committed occupancy for March 2014 - February 2015, based on group commitments and individual reservations on the books as of February 23, 2014 compared to the same time last year. The group segment is up 3.9% in room nights committed (contracted). New group business added over the last month (pace) are up 4.0% over the comparable period last year. Transient room nights booked are up 5.5% compared to the same time last year. Average daily rate (ADR) is growing slightly above occupancy, up 2.8% based on reservations currently on the books for 2014.

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STR Reports US Hotel Occupancy Up for Week Ending April 5, 2014
The U.S. hotel industry posted positive results in the three key performance measurements during the week of 30 March-5 April 2014, according to data from STR. In year-over-year measurements, the industry's occupancy increased 2.4 percent to 65.2 percent. Average daily rate rose 4.2 percent to finish the week at US$112.60. Revenue per available room for the week was up 6.7 percent to finish at US$73.46.

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PKF Hospitality Research - April 2014 Lodging Insights
ATLANTA, Ga., April 10, 2014 - Mark Woodworth and Jack Corgel discuss recent concerns over the hotel development pipeline and what factors will facilitate supply growth over the next few years. PKF Consulting USA is owned by FirstService Corporation (FSRV) and is a subsidiary of Colliers International. The firm operates two companies: PKF Consulting USA, LLC. and PKF Hospitality Research, LLC. The firm has offices in New York, Boston, Indianapolis, Chicago, Philadelphia, Washington DC, Atlanta, Jacksonville, Tampa/Orlando, Houston/Dallas, Los Angeles, Bozeman, and San Francisco.

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Global Hotel Market More Positive about 2014 - Horwath HTL Reports
The latest survey compiled by Horwath Hotel, Tourism and Leisure (HTL), the world's largest hospitality consulting firm, has shown that hotel operators around the globe are more optimistic about the coming few months than they were in 2012 or 2013. The survey, which summarises responses from over 40 countries, shows that America continues to be positive, Asia has recovered slightly from the last two surveys and even Europe has experienced a slight lift.

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STR Reports US Hotel Occupancy Up for Week Ending March 29, 2014
The U.S. hotel industry posted positive results in the three key performance measurements during the week of 23-29 March 2014, according to data from STR. In year-over-year measurements, the industry's occupancy increased 8.0 percent to 66.8 percent. Average daily rate rose 5.0 percent to finish the week at US$115.25. Revenue per available room for the week was up 13.4 percent to finish at US$77.03.

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Germany: 2013 and 2014 growth driven by weekends - MKG Reports
For several years, Germany's hotel performances have proven solid, and 2013 was no exception. According to the MKG European Hospitality Report, which surveys more than 960 hotels in Germany, occupancy rose by 1 point in 2013 to 67.6%. In 2013 as well as over the first quarter of 2014, weekend performances turn out to be the key growth engine.

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PKF Hospitality Research - March 2014 Lodging Insights
Mark Woodworth and Jack Corgel report from the Johnson School at Cornell University. They discuss recent lodging results and new economic indicators that point to confidence in a sustained recovery.

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French Hotel Industry Performances - February 2014
The month of February saw mixed results. At the national level, occupancy and average rates dropped slightly, without, however, entirely collapsing. The Luxury segment was the only one to stay on course, posting positive results. Paris - usually spared from downturns - did not manage to escape during February. Conversely, other destinations benefited from bright spells, giving rise to contrasted results.

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March

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HotStats European Chain Hotels Market Review February 2014
Whilst both cities increased revenue per available room (RevPAR) in February by 1.1% and 3.0% respectively profit per available room fell in both markets, according the latest data from HotStats.

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HotStats UK Chain Hotels Market Review February 2014
With the UK hotel market posting a consecutive second month of strong growth, hoteliers in the East of the country experienced year-on-year increases across all key performance indicators and recorded the highest growth in gross operating profit per available room (GOPPAR) of 48.3% in February, according to the latest data from HotStats.

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Europe's hotel industry continues along the route towards recovery - MKG Reports
The return of a stronger demand is leading to 1.9 points of improvement for occupancy rates at properties, where the OR is almost 60%. Such properties were able to resume increasing their average daily rates, which grew by 0.5% across the month. February thus closes with 3.9% growth in Revenue per available room at hotels on the Old Continent, where it is close to 50 euros. The rise in hotel performances concerns almost all categories, except for the Budget category that struggles to reverse the trend and remains stable with respect to last year (-0.1% of the RevPAR).

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Holiday Timing Helps Boost February Global Leisure Bookings and Rates
Valentine's Day falling on a Friday helped boost global leisure bookings and rates in February, according to Pegasus Solutions. Last month, online bookings for leisure travel rose +4.6% over February 2013, and rates climbed a solid +4.0% higher, according to the largest processor of electronic hotel bookings.

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Shift in Hotel Retail Impacts Revenues and Profits | By Robert Mandelbaum and Gary McDade
Hotels provide retail operations primarily for guest convenience and satisfaction, and are, in general, only a small part of total hotel revenue. Of the properties in the Trends in the Hotel Industry database of PKF Hospitality Research, LLC (PKF-HR) that reported retail sales and expenses, retail sales made up just 0.9 percent of total hotel revenue in 2012. Retail operations vary greatly depending on the type of hotel. The retail department at large full-service, resort and convention hotels often includes clothing stores, gift shops and newsstands. Limited-service, select-service, and extended-stay properties frequently operate just a kiosk or mini-mart located next to the front desk that sells items mainly for the guest's convenience, such as snacks, drinks, and microwavable food.

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STR Global: Middle East & Africa results for February
The Middle East/Africa region reported positive performance results during February 2014 when reported in U.S. dollars, according to data compiled by STR Global.The region reported a 1.3-percent increase in occupancy to 67.4 percent, a 2.7-percent increase in average daily rate to US$177.42 and a 4.0-percent increase in revenue per available room to US$119.55.\"The Middle East still is driving performance in the region\", said Elizabeth Winkle, managing director of STR Global. \"Jordan, Oman and Saudi Arabia are all posting both occupancy and ADR growth (in local currency). Jordan and Bahrain are reporting the largest occupancy growth. Dubai is still reporting high occupancy; the new supply coming in is being absorbed and we are seeing double-digit rate growth\".Highlights among the Middle East/Africa region's key markets for February 2014 include (year-over-year comparisons, all currency in U.S. dollars):

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STR: US results for week ending 15 March
The U.S. hotel industry posted positive results in the three key performance measurements during the week of 9-15 March 2014, according to data from STR. In year-over-year measurements, the industry's occupancy increased 1.9 percent to 67.8 percent. Average daily rate rose 3.8 percent to finish the week at US$116.35. Revenue per available room for the week was up 5.8 percent to finish at US$78.93. Among the Top 25 Markets, Denver, Colorado, increased 20.8 percent in occupancy to 77.9 percent, reporting the largest increase in that metric. San Diego, California, followed with a 12.2- percent increase to 81.7 percent. Chicago, Illinois, posted the largest occupancy decrease, falling 6.9 percent to 63.8 percent. New Orleans, Louisiana (+38.7 percent to US$195.98), and Denver (+11.9 percent to US$104.95) reported the largest ADR increases. Six markets achieved RevPAR increases of more than 15 percent: New Orleans (+43.1 percent to US$174.34); Denver (+35.3 percent to US$81.79); San Diego (+19.9 percent to US$110.82); Atlanta, Georgia (+18.2 percent to US$68.40); San Francisco/San Mateo, California (+17.2 percent to US$148.33); and Los Angeles/Long Beach, California (+16.6 percent to US$118.55). New York ended the week with the largest ADR (-8.4 percent to US$227.22) and RevPAR (-13.4 percent to US$187.75) decreases for the week.

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What Do Hotel Bookings Tell Us About the Economy? | Interview with Choice CEO Stephen Joyce
Choice Hotels International President and CEO Stephen Joyce discusses the company's growth and Facebook's acquisition of WhatsApp on Bloomberg Television's \"In The Loop.\" (Source: Bloomberg)

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Panelists Discuss U.S. Lodging Industry Forecast; 6% RevPAR Increase Predicted for 2014 & 2015
R.A. Rauch & Associates (RAR) hosted Onward & Upward: A Lodging Industry Forecast for 2014 on Friday, March 14, 2014 at the company's owned and managed Hilton Garden Inn San Diego/Del Mar. RAR president and renowned \"hotel guru\" Robert Rauch co-moderated the event with San Diego economist Gary London, president of The London Group Realty Advisors. The distinguished panel also included leading hospitality attorney Guy Maisnik, Partner, Vice Chair, Global Hospitality Group at JMBM; market leading hotel broker Alan Reay, President, Atlas Hospitality Group; and digital media and sales specialist Sandra Shapira, Director of Sales, TravelClick.

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STR Reports US Hotel Occupancy Up for Week Ending March 8, 2014
Smith Travel Research The U.S. hotel industry posted positive results in the three key performance measurements during the week of 2-8 March 2014, according to data from STR. In year-over-year measurements, the industry's occupancy increased 2.1 percent to 64.0 percent. Average daily rate rose 4.8 percent to finish the week at US$114.85. Revenue per available room for the week was up 7.1 percent to finish at US$73.52.

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HotStats MENA Chain Hotels Market Review January 2014
Hotels in Abu Dhabi posted double digit growth in Revenue Per Available Room (RevPAR) in January on the back of strong growth in occupancy levels and Average Room Rates (ARR), according to the latest HotStats survey of full-service hotels in five MENA cities by TRI Hospitality Consulting.

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French Hotel Industry Performances - January 2014
January was not a good month for the French hotel industry, as RevPAR declined. Although business did not fall dramatically, RevPAR stagnated at best, and dropped by almost 5% at worst. Never a good month for French hotels, occupancy and average rates are often low in January a situation not helped by the current economic climate. All the same, this is the third year in a row that January's performances have dropped in comparison to the previous year (1). In short, the decline in January 2014 although moderate only serves to prolong a difficult situation. Rather worryingly, Parisian hotels also posted a drop in RevPAR. Although the Luxury segment managed to increase rooms revenue by +2.7%, this remained an exception.

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STR Global: Americas, Middle East/Africa hotels report positive 2013 results
The four world regions, when measured in euros, reported mixed results in the three key performance metrics during 2013, according to data from STR Global. \"More than 1 billion people travelled globally in 2013, and across most regions demand growth outpaced supply growth\", said Elizabeth Winkle, managing director for STR Global. \"We're on the cusp of exciting opportunities in 2014 with international arrivals forecasted to grow between 4 percent and 4.5 percent. 

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Hotels forecast 2014 and 2015 Spotlight on London
We have high hopes for London as strong demand drives up ADR. We forecast almost 4% growth for RevPAR in 2014 as rates and occupancy hit new highs. Further records are expected to be broken in 2015.

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Room to Grow: PwC's European Cities Hotel Forecast 2014 and 2015
This third edition of PwC's European cities hotel forecast is published against a backdrop of a region that has taken an economic pounding but is seeing clear evidence of economic recovery and returning confidence. The world is changing at a pace and in this snapshot (taken in February 2014) we look forward to resurgence in travel and hotel prospects in 2014 and 2015.

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February

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HotStats UK Chain Hotels Market Review January 2014
With every UK region enjoying an unusually positive start to the year, Yorkshire and Humberside hoteliers recorded year-on-year increases in total revenue per available room (TRevPAR) and gross operating profit per available room (GOPPAR) of 6.9% and a stunning 25.0% respectively in January, according to the latest HotStats.

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February 2014 - U.S. Lodging Insights from PKF Hospitality Research, LLC.
Mark Woodworth and Jack Corgel just got back from ALIS. Here are their latest thoughts on the recent GDP figure release and any weakness in group hotel demand.

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January

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FHRAI - Indian Hotel Industry Survey 2012-13
The Federation of Hotel & Restaurant Associations of India is pleased to present the sixteenth annual edition of the Indian Hotel Industry Survey, in cooperation with HVS India. This survey includes in-depth information about the performance of hotels across various cities and positioning and provides several benchmarks for comparing hotel performance in India. We would like to thank the participating hotels for all the detailed information they have provided, thereby helping to improve the quality of this research.

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2013

December

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Lodging Forecast 2014 | By Robert Rauch
Going into 2014 the tourism industry has recovered ahead of the economy for the first time in history. This is unusual considering the lodging industry has run in sync with all major economic trends in the past. Normally, the economy improves and the lodging industry trails about six months later. In 2010, the economy continued to remain in a recession while demand for lodging began to improve. From 2011-2013 this trend was followed with additional growth in both occupancy as well as average daily rates. As many of us are aware, going into the 2012 elections the economy was just barely coming out of its recession yet many drivers have been laid out ensuring the lodging industry will be moving forward in 2014.

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October

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Spotlight on Morocco: Marrakech's Luxury Hotel Market | By Luisa Pott and Arlett S Oehmichen
Marrakech is a city that shows significant potential for tourism: the number of airport passengers and hotel overnights grew considerably year-on-year from 2004 to 2008, and rebounded in 2010 after the global slowdown caused falls in visitation. This demand for the city came from all market segments, in particular leisure and MICE visitation.

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STR Reports US Hotel Occupancy Up For Week Ending September 28, 2013
Smith Travel Research The U.S. hotel industry reported positive results in the three key performance metrics during the week of 22-28 September 2013, according to data from STR. In year-over-year comparisons, occupancy rose 5.8 percent to 67.8 percent, average daily rate was up 8.3 percent to US$115.47, and revenue per available room increased 14.5 percent to US$78.31.

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September

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UK Hotels Forecast 2014 - The Right Kind Of Growth
Things may change of course, but right now in the first week of September things feel rosier for the UK economy than at any point over the past three years. The services sector in particular is experiencing a good run and signs are that prospects for the hotels sector have picked up as well.

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PKF: Should The Good News Be Even Better? - Updated City Forecasts with a Focus on Room Rates
In the recently released September 2013 edition of Hotel Horizons, PKF Hospitality Research, LLC (PKF-HR) affirms its forecast of strong fundamental performance for the U.S. lodging industry. The lack of meaningful increases in hotel supply, an economy that supports growth in lodging demandand market leverage that allows for real room rate growth leads to PKF-HR forecasts of healthy increases in both revenues and profits in 2013 and 2014.

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HotelBeat - Luxembourg City
HotelBeat from Whitebridge Hospitality this month focuses on Luxembourg City. This HotelBeat incorporates recent data and information from a mixed-use development study that we have just completed. We do hope you find this information useful. Should you have any specific questions relating to Luxembourg, or wish to discuss any other requirements that Whitebridge Hospitality may be able to assist you with, please do not hesitate to get in touch.

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August

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HotStats European Chain Hotels Market Review July 2013
Hoteliers in Berlin saw profits per available room increase by 25% in July this year which was solely attributable to non-rooms revenues and effective overhead cost management, according to the latest HotStats survey. Occupancy and Average Room Rate (ARR) both decreased marginally in July resulting in a slight fall in RevPar of 1% to 78.80. Meeting room revenue, however, increased by over 140%, equivalent to an additional 5.58 per available room, and consequently was the main driver of Total Revenue (TrevPar) growth of 9.6%. Other revenue drivers were food and beverage, with growth in this department improving departmental payroll efficiency by an impressive 12 percentage points and ultimately more than tripling food and beverage departmental operating profit per available room to 10.40 when compared to July last year.

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HotStats UK Chain Hotels Market Review July 2013
A year after successfully hosting the greatest event on earth, hotels in London experienced, unsurprisingly, a total revenue and profit decline in July of -6.7% and -14.6% respectively compared to the same month last year, according to the latest HotStats survey of 624 full-service hotels across the UK.

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Video: PKF-HR August 2013 Lodging Insights
Mark Woodworth and Jack Corgel recent average daily rate (ADR) increases and what to expect in 2014. Headquartered in San Francisco, PKF Consulting USA, LLC (www.pkfc.com) is an advisory and real estate firm specializing in the hospitality industry.

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U.S. Lodging Sector Performance Remains Favorable Despite Sluggish Economic Growth, Says PwC US
PwC US anticipates that positive momentum in travel activity will continue to boost revenue per available room (\"RevPAR\") in 2013, despite the recent sluggish pace of economic recovery. An updated lodging forecast released today by PwC US shows favorable gains in hotel performance, consistent with PwC's expectations at the start of the year. Occupancy levels at higher-priced hotels are ahead of prior peak levels, industry RevPAR is above its prior peak, and hotel construction activity, while rebounding, is still quite moderate, according to PwC. As demand continues to outpace supply growth, and economic growth strengthens, PwC expects growth in average daily rate (\"ADR\") will continue, resulting in RevPAR growth of 5.6 percent in 2013, improving slightly to 5.9 percent in 2014.

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STR: US results for week ending 17 August
he U.S. hotel industry reported positive results in the three key performance metrics during the week of 11-17 August 2013, according to data fromSTR. In year-over-year comparisons, occupancy rose 1.2 percent to 70.4 percent, average daily rate increased 4.7 percent to US$111.69 and revenue per available room grew 5.9 percent to US$78.63.

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Trivago August tHPI: Edinburgh Hotel Prices up 39% for the Fringe
Hotel prices in Edinburgh have increased by 39 per cent this month for the annual Fringe Festival, according to the trivago Hotel Price Index (tHPI) reported monthly by hotel comparison websitewww.trivago.co.uk. One night in August will cost an average of 194, compared to 140 in July.

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HVS London is pleased to present UK Hotel Bulletin: Q2 2013
Profitability growth returned to the regions in Q2 2013 for the first time on a last twelve months basis since the downturn.London also recorded positive results; however weak comparators, due to the Diamond Jubilee, masked what was otherwise aflat quarter. This issue's city focus is on Liverpool, a hotel market that has doubled in size in the last decade.

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The TravelClick Perspective - July 2013
The hotel industry outlook for the top 25 North American Markets is showing an increase of 2.3% in committed occupancy for July 2013 - June 2014, based on group commitments and individual reservations on the books as of June 30, 2013 compared to the same time last year. The group segment is up 1.3% in room nights committed (contracted).

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July

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HotStats European Chain Hotels Market Review June 2013
Dublin's hoteliers recorded a 12.0% increase in profits per room in June, according to the latest HotStats survey bringing the calendar year-to-date GOP per available room increase to 25.7% and the rolling 12 months growth figure to 31.0%.

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Ramadan 2013 Impacts Luxury Hotel Segment in Paris and French Riviera
S ince 2010, Ramadan has been encroaching on the summer season and disrupting the habits of the Middle-Eastern clientele of French palaces who are traditionally fond of Paris and the French Riviera in the summer, especially in August. The figures reported by MKG clearly show the effects of this departure of customers on the upscale hotel segment in France.

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The TravelClick Perspective June 2013
The hotel industry outlook for the top 25 North American Markets is showing an increase of 2.3% in committed occupancy for June 2013 - May 2014, based on group commitments and individual reservations on the books as of May 26, 2013 compared to the same time last year. The group segment is up 1.6% in room nights committed (contracted). New group business added over the last month (pace) has been stronger than recent months, up 6.6% over the comparable period last year. Transient room nights booked is up 4.1% compared to the same time last year. Average daily rate (ADR) is growing slightly more than occupancy, up 3.4% based on reservations currently on the books for 2013.

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trivago Europe Hotel Price Index - July 2013
Hotel prices in Nottingham are currently up by 51 per cent for the 2013 Ashes series at Trent Bridge cricket ground, according to the trivago Hotel Price Index (tHPI) reported monthly by hotel comparison website www.trivago.co.uk. One night during the First Test, which began on Wednesday 10th July and will run until Sunday 14th July, will cost an average of 115. This is a 51 per cent increase from the preceding week, where one night cost an average of 76. During the week following Sunday 14th, hotel prices in Nottingham will fall by 35 per cent to an average of 74 per night.

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US & UK Hotel Activity Remains Stronger than Overall Economy, Germany Falls Flat
Durham, New Hampshire USA - Business activity in U.S. hotels increased in June to a reading of 109.5 according to the latest reading of the U.S. Hotel Industry's Pulse (U.S.- HIP) indicator. eforecasting.com's U.S.-HIP, a composite indicator that gauges monthly overall business conditions in the U.S. hotel industry increased 0.5% in June, following an increase of 0.7% in May. The index is set to equal 100 in 2005.

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HotStats MENA Chain Hotels Market Review May 2013
Dubai hotels posted 30.9% growth in GOPPAR, while a 14.7 percentage point surge in occupancy boosted GOPPAR by 31.6% in Abu Dhabi, according to the latest HotStats survey of full service four and five star hotels by TRI Hospitality Consulting Middle East.

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June

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Atlanta Market Intelligence Report 2013| HVS
Despite an underperforming office market and high unemployment, Atlanta remains one of the nation's top convention destinations. With more than a dozen hotels in the pipeline and values on the rise, what's next for Atlanta's lodging industry?

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Benelux hotel market stabilizing | Horwath HTL HOSTA 2013 Report
The hotel industry in the Benelux is showing stable figures, even as the economy continues to struggle. The new HOSTA 2013 report from Horwath HTL shows that the occupancies have remained stable in 2012, although the average room rates decreased slightly.

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Hotel CEO's: Slow Recovery Will Prolong Lodging Seller's Market | businesstravelnews.com
Hotel company chief executives speaking here on Monday at New York University's International Hospitality Investment Conference said they see little threat to the hotel seller's market enduring for the foreseeable future, despite a particularly gloomy economic prognosis shared by one prominent real estate mogul. \"We're in a very healthy part of the cycle,\" said Hilton Worldwide president and CEO Christopher Nassetta. \"We'd all like to see demand growing even faster in the economy, if Washington would let loose a little bit, but the reality is the economy is growing positively, demand as a result is growing nicely and supply is rising but at the lowest levels we've seen in decades.\"

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US Lodging Sector Recovery Continues Cautiously, Says PwC US
Reflecting strong performance during the first quarter and positive momentum in travel activity, offset by impacts from near-term fiscal challenges, an updated lodging forecast released today by PwC USanticipates revenue per available room (\"RevPAR\") recovery in 2013 to stay on course, consistent with PwC's expectations at the start of the year. Recent lodging performance has been favorable, with occupancy levels at higher-priced hotels ahead of prior peak levels, real RevPAR that is above its long-term average, and slow supply growth. This positive trajectory is expected to continue, resulting in RevPAR growth of 5.9 percent in 2013. PwC expects slightly stronger RevPAR growth of 6.2 percent in 2014, driven by strengthening economic growth and solid room rate gains in the context of below-average lodging supply growth.

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Leisure Reservations Surged Ahead in April as North American Corporate Bookings Struggled to Maintain Global Pace
Pegasus Solutions has issued data specific to North American hotel performance concurrent with the 35thAnnual NYU International Hospitality Industry Investment Conference. The single largest processor of electronic hotel transactions is reporting that the region's corporate bookings struggled to maintain the record global pace of +8.8% with a more modest +5.0% increase over April 2012. However, North America's leisure market surged ahead by an impressive +7.0%, surpassing the global rate of +6.2%.

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Deloitte - French Hotel Industry Performances (April 2013) - Sluggish performance of the French hotel industry
Directly dependent on the economic context, the hotel industry saw a further drop in rooms revenue in April. Even Paris and the Cote d'Azur who have up till now managed to resist experienced a decline in revenues. Occupancy continues to suffer as a result of the gloomy economic environment, but more worryingly, average rates are now starting to fall, which does not herald good news for the industry.

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May

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U.S. Hotel Guests Spend More to Rent Rooms, But Not on Much Else | PKF Reports
Now that the national hotel occupancy rate is approaching its long run averages and scarcity has returned in certain markets and property types, guests have to pay more to rent rooms. However, after the guests have checked in, managers are struggling to get them to spend more on the additional services and amenities offered by hotels. This finding comes from the recently released 2013 edition of Trends in the Hotel Industry, the annual compendium of hotel operating statistics prepared by PKF Hospitality Research, LLC (PKF-HR) that dates back to 1937.

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Deloitte - French Hotel Industry Performances (March 2013) | The red light is back on...
February's timid upswing was short lived, as rooms revenue fell in March both in Paris and throughout France. The shift in the school holiday period had inflated performances in business destinations in February, temporarily erasing the difficult economic context. In March, the decline was even steeper, with regional France in particular feeling the pinch. The Luxury segment less dependent on the national market was the only category to extricate itself.

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HotStats MENA Chain Hotels Market Review March 2013
Hotels in Abu Dhabi and Dubai capitalised on a surge in GCC demand in March driven by the spring break for schools in the region, which was complemented by an array of cultural, sports and other events, according to the latest HotStats survey of full service four and five star hotels by TRI Hospitality Consulting.

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April

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HotStats European Chain Hotels Market Review March 2013
In the first three months to March 2013 the biggest GOPPAR declines were experienced in Istanbul (-26.9%) and Vienna (-22.0%), whilst Amsterdam market GOPPAR performance remained flat. First quarter GOPPAR decline was also experienced in Brussels (-6.5%), Frankfurt (-0.7%), London (-7.2%), Paris (-3%) and Stockholm (-4.6%).

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HotStats UK Chain Hotels Market Review March 2013
The London hotel market experienced a gross operating profit decline of 7.3 per cent in the first quarter of 2013, according to the latest HotStats survey. In the first three months of 2013, RevPAR (Revenue per Available Room) and TRevPAR (Total Revenue per Available Room) performance declined by 3.4% and 2.5%, respectively, when compared to 2012 performance.

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