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

2016

May

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M-Commerce, youth feed China's outbound travel boom - PhocusWright Report
Chinese travelers are relatively inexperienced with overseas trips, but thanks to decades of increasing prosperity, along with the recent easing of visa restrictions, they are making up for lost time. If recent adverse economic events have Mainland households protecting their savings, overseas travel does not seem to be the first budget item to be trimmed, according to a new report from travel industry research authority, Phocuswright. Chinese travelers spent US$205.7 billion, or 1.3 trillion, on outbound trips in 2015.

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April

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Overview of tourism and the hotel industry in Mauritius [Infographic]
Discover our infography about tourism and the hotel industry in Mauritius, an extract from our report \"Mauritius: the rising star of the Indian Ocean keeps shining\".

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Courchevel: reaching for the top [Infographic]
Courchevel, a ski resort of superlatives, made a place for itself in the ranks of global elite luxury destinations. Performances for the 2015/2016 season, trends and future developments: portrait of a hotel market that keeps reaching new peaks.

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March

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PwC report: Hospitality investment strategies in Greece
The new study of PwC Greece \"Hospitality Invetsment Strategies in Greece\" provides an in depth analysis of the hospitality industry and suggests three strategies for development. Greece is a significant global tourist destination and its direct contribution to the country's GDP exceeds 7%. The hospitality industry has been growing fast and systematically in the last three years, but it is not particularly internationally competitive, mainly due to price.

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February

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Whitebridge EMEA Hotels Monitor - Issue 17
Although the political landscape across the region was little changed in the last six months of 2015 in Europe, it remains to be seen what the impact of a new 'ultraconservative' government in Poland will be (which recently nationalised local media and elements of the financial sector). Multiple attacks in Paris on 13 November had major ripple effects across Europe, where even London saw disappointing results in December. The year ended with a spectacular blaze at The Address Downtown in Dubai, but fortunately the cause was poor wiring rather than anything more sinister.

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Travel and Hospitality Industry Outlook - Interview with Deloitte's Guy Langford
Fresh off the back of a robust and dynamic 2015, many travel and hospitality (T&H) companies are heading into 2016 with strong momentum for continued success. But this success is not a given: T&H organizations will need to proactively and effectively respond to a set of evolving challenges around customer and market expectations, data use and integration, recruitment and retention, competitive dynamics, and risk management. In the following interview, Guy Langford, vice chairman and US Travel, Hospitality & Leisure leader, Deloitte & Touche LLP, shares his thoughts on growth opportunities and industry trends T&H companies should be mindful of in 2016.

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The Zika Virus - An Evolving Risk to the Lodging Industry | By Brett Edgerton
The recent outbreak of the Zika virus in the Americas has raised global concerns about the health threats posed by the virus. On February 1, 2016, the WHO declared the microcephaly cases and other neurological disorders reported in Brazil as a result of Zika infections to be a public health emergency. Similarly, the Centers for Disease Control and Prevention (CDC) has urged pregnant women to postpone any travel to countries where the outbreak is occurring (see Figure 1 for countries currently at risk). Since mosquitoes are known to carry and spread the virus, Zika has the potential to spread to unaffected countries throughout the Americas, including the United States and parts of Canada. Florida, where the mild climate is ideal for mosquito-borne disease to spread, has declared a state of emergency in five counties where residents have contracted the virus abroad live. There have already been reports of airlines refunding tickets to travelers as tourists seek to avoid active transmission regions. The lodging industry is particularly exposed to the risks caused by short-term health and safety issues like Zika because the industry relies on daily demand rather than long-term leases that shelter other real estate classes from volatility. To gain insight into what effects, if any, the Zika outbreak may have on the hotel industry, we examine past disease outbreaks and industry performance.

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Seven Key Takeaways | The Americas Lodging Investment Summit 2016 (ALIS)
The annual Americas Lodging Investment Summit (ALIS) kicked off the year with insights into hotel transactions, performance, and lending trends. What do experts expect for the industry in 2016? A modest tempering of enthusiasm for development, performance, and the near future of the U.S. hotel industry was prevalent among delegates at the 2016 ALIS conference in Los Angeles, which traditionally sets the tone for the present year of lodging news and forecasts. Forecasts call for a continuing rise in hotel RevPAR and NOI; however, falling oil prices and the decline in REIT stock prices fed into a balance of cautious optimism at the conference. The rise of the U.S. dollar and its impact on foreign travel was at the forefront of many discussions; while gateway markets are being affected, secondary hotel markets are benefiting from the lower cost of gas. Mixed-use developments that integrate hotel components are on the rise. Tighter restrictions on CMBS loans are making large transactions more challenging. Financing for new hotel development remains available, but will likely undergo stricter underwriting. The following are some key takeaways from ALIS 2016. 

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January

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Meetings/Hospitality Industry Riding Crest of Upswing
After a stretch of rapidly rising room rates and increased meetings attendance following the recovery from the Great Recession of 2008, the sense of prosperity felt within the meetings and hospitality industry seems to have plateaued, with hotel room rates expected to rise at a reduced clip and attendance predicted to continue its gradual upward momentum.

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Three Million Rooms Highlights Banner 2015 | hotel-online.com
2015 was a banner year for the US lodging industry. Sector fundamentals have never been stronger, and at this juncture hotel property values have generally exceeded prior peak levels in most markets across the country. Mergers and acquisitions of individual hotels, portfolios, and corporate consolidations occurred at a blistering pace reaching a crescendo with the late year announcements of Marriott International's blockbuster acquisition of Starwood Hotels & Resorts Worldwide, Inc., Accor SA's purchase of FRHI Holdings Ltd which includes Fairmont, Raffles and Swissotel, and Hilton Worldwide Holdings' plan to separate its real estate assets into a publicly traded entity.

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Key West Priciest Destination in Florida, Survey Shows
Key West has just been revealed as the most expensive destination in Florida in which to stay the night. That's according to the latest survey from MiamiHotels.org, which compared 30 destinations in the state based on the cost of lodging.

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2015 results in US strongest on record: STR | hotelsmag.com
Compared with 2014, the U.S. hotel industry's 2015 occupancy was up 1.7% to 65.6%; its average daily rate rose 4.4% to US$120.01; and its revenue per available room increased 6.3% to US$78.67, according to STR Inc. The absolute values in the three key performance metrics were each the highest STR has ever benchmarked.

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Australia: Business confidence lifts despite tough conditions in hospitality sector | hospitalitymagazine.com.au
According to a recent quarterly report from marketing services company Sensis, business confidence in Australia has jumped to its highest level in almost five years, registering a net balance of +39. According to the Sensis Business Index (SBI) survey, more than three times as many small businesses are now confident (57 percent) as opposed to those that are worried (18 percent) about the current economic climate, representing a 12 point rise in confidence among SMEs in the December quarter.

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Positve Operating Leverage Results in Another Year of Hotel Value Gains; Cap Rates Start to Rise | By Suzanne Mellen
Five years of steady cap rates and rising NOI have resulted in significant U.S. hotel asset appreciation. The current economic landscape is likely to cause hotel cap rates to rise in 2016, moderating future value gains.

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PKF Global Economic Insights - January 2016
The performance of U.S. hotels has becoming increasing influenced by changes in the global economy. In this video, Richard Barkham, Chief Global Economist for CBRE, shares his views on the major regions of the world.

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In focus: Budapest, Hungary
This article presents an update on the hotel market in Budapest, discussing hotel demand and supply factors, along with recent performance and investment trends.

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Indian Hotel Industry Survey 2014-2015
The survey, representing 1,295 hotels in various cities across different star categories in India, presents key statistics for the industry. It provides information about financial performance, marketing media usage patterns, guest segmentation, etc.

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Knowledge Center Forecast: U.S. Business Travel to Grow at 'Stable and Steady' Rates in 2016, 2017 | successfulmeetings.com
Despite global economic uncertainty, business travel in the United States will grow at \"stable and steady\" rates over the next two years, according to the latest forecast from the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA).

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In Focus: Cyprus
This article discusses the Cyprus hotel market in terms of supply and demand and analyzes past tourism trends.

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The HVS Greater China Update - 4th Quarter 2015
Economic slowdown continued to affect tourism and hotel markets across Asia in the third quarter.

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Luxury Market Surges In Los Cabos | Travelmarketreport.com
Hoteliers are betting on Los Cabos' reputation as a top destination for luxury travelers, as they continue to bring upscale brands to the area. The good news: it seems to be paying off. The hot spot saw a 14.7% tourism increase in 2015 compared to 2014, welcoming more than 1.5 million tourists a year. Delta Vacations and Aeromexico Vacations bookings to the destination have seen healthy double-digit increases, said Delta Vacations senior vice president of marketing and product development Tina Iglio. Iglio predicts Los Cabos will represent a huge opportunity for travel agents in 2016.

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Hotelbeat London & Regional UK - January 2016
STR Global and Whitebridge Hospitality are pleased to present this updated analysis (first undertaken in 2011) which demonstrates the true state of the hotel sector in London and in Regional UK. The data is based on two constant samples of hotels (totalling more than 25,000 rooms), over an 15-year period (2000-2014), whose performance statistics have been re-based in constant 2014 values ('real terms'). Naureen Ahmed, Manager Marketing & Analysis, STR Global, comments: \"It is reassuring to see the turnaround in UK hotel markets. Demand growth over recent years has driven occupancy and Regional UK hotels have reflected the pick up in the domestic economy through improved performance levels. London has sustained higher levels of performance for many more years, including GOP margins around 50%, even during the recession years.\" Philip Camble, Director of Whitebridge, comments: \"It is encouraging to see Regional UK occupancy return to 'pre-Crunch' levels and GOP levelling off. However, ADR still has some way to go and an ADR-led recovery should result in further consolidation in GOP and, with a fair wind, lead to more solid growth in profits in years to come.

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HotStats UK Chain Hotels Market Review November 2015
Glasgow Hoteliers Missing Their MTV as Year-on-Year Profit Levels Plummet. Year-on-year profit levels at Glasgow hotels fell by 17.2% this month as the city's hoteliers lamented the absence of MTV European Music Awards-related demand which fuelled a 35.1% increase in RevPAR (Revenue per Available Room) this time last year, according to the latest data from HotStats.

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HotStats MENA Chain Hotels Market Review November 2015
Performance levels plunge for Dubai and Sharm El Sheikh hotels. Five and four star hotels in Dubai continued to experience weakening average room rates (ARR) in November, falling 6.9% to US$315.03, whilst occupancy levels remained strong, albeit marginally lower than the same period last year at 84.9%. The 8.1% decrease in revenue per available room (RevPAR) was compounded by significantly lower food and beverage revenues which fell 12.0%, driving total revenue per available room (TRevPAR) 10.9% lower, to US$449.80. Higher operating expenses compounded lower overall revenues, reducing gross operating profit per available room (GOPPAR) by 15.8% to US$214.83.

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HotStats European Chain Hotels Market Review November 2015
Paris Hotels Suffer Profit Drop in Wake of Terrorist Attacks. Year-on-year profit per room at full-service hotels in Paris dropped by 19.0% this month, as the terrorist attacks, which took place on 13 November, were the root cause of a substantial decline in demand for hotel accommodation, according to the latest data from HotStats.

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Development boom propels growth in Sunshine Coast markets
The Sunshine Coast is positioned to become Queensland's next investment hotspot, with the region's property market set to benefit from population growth, a diversifying economy and a swag of new developments. A new CBRE Viewpoint highlights favourable conditions for the Sunshine Coast's commercial property markets, with a number of key drivers aligning the region for a period of major growth.

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Horwath 2015 Poland Report
There are high hopes for Poland to become a leading tourism destination in the future. In 2015 the total number of tourists will amount to 28,49 million and over the next 15 years is expected to increase to 30,64 million annually. Additionally, Poland has a strong domestic tourism market that amounted to 17,2 million visitors in 2014.

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Hotel Market Data Index Shows Miami Region to Experience a 6.31% Increase in Hotel Room Supply in 2016
The total supply of hotel rooms in the Miami-Fort Lauderdale MSA region is expected to increase from 86,000 to 92,000 by January of 2017 as 40 hotels are projected to open over the next 12 months. The Miami growth comes out to a 6.31% increase in hotel room supply, a mark that outpaces the 3.71% projected national growth in 2016. According to the HMD Index, the supply of luxury rooms within the Miami region is expected to increase by 9.10%, and the supply of mid-range hotel rooms is expected to increase by 7.25% over the next 12 months. By January 2017, Hilton Worldwide (NYSE: HLT) will likely see the greatest increase in hotel room supply in the Miami region with 10.42% growth, while InterContinental Hotels Group (NYSE: IHG) is showing the second highest growth forecast at 6.79%. The HMD Index's real-time hotel supply and construction pipeline data is driven by Hotel Market Data's construction reports, profiles, and analytics. Visit www.hotelmarketdata.com/HotelIndex now to sign up for free email notifications for specific US markets, hotel scales, and hotel franchises.

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French Hotel Industry Performance - November 2015
Paris and the Ile de France region were dramatically hit by two terrorist attacks in 2015. The impact on hotel activity is evidently substantial and hotels in this area will finish the year on a lower note. November saw a fall in occupancy in Parisian hotels of all categories compared to the same period 2014. Although the impact appears to have been less strong in regional France, intermediary categories nonetheless recorded lower performances in November 2015, particularly on the Cote d'Azur. Our fears were unfortunately confirmed as Paris suffered a significant drop in occupancy further to November's attacks (a fall of 10,9% to 14,6% depending on the category). Stable average rates limited the drop in RevPAR, although rooms revenue was still affected. Paradoxically, Luxury hotels managed to stabilise or grow RevPAR (+3,3%), although this was an illusion, since November 2014 was not a particularly good month (aggravating the findings for other categories). The rest of the region fared better, and inferior categories (Budget and Super Budget) in certain departments even managed to increase RevPAR. The rest of France suffered to a lesser extent. The Upscale and Midscale categories were the only ones to record fairly significant drops in RevPAR in November 2015: -9,8% for regional Upscale hotels given the combined fall in occupancy and average rates and -9,5% for Midscale hotels on the Cote d'Azur given the significant drop in occupancy. All other categories recorded stable or better performances, confirming the more encouraging pattern recorded over the past few months. Even though we should remain cautious when comparing results against November 2014, year-end performances show a marked increase, with December not likely to reverse the trend. For Super-budget hotels, the months go on and resemble each other. Maintaining a +1,5% increase in average rates since the start of the year has not been sufficient to offset declining occupancy: RevPAR is down

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2015

December

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Hotel Market Data Shows Supply of Hotel Rooms within the US Market Expected to Increase by 3.71% in 2016
Over the next 12 months, the supply of hotel rooms within the US market is forecasted to grow 3.71%. Over 1,100 hotels are being constructed within the next year, resulting in approximately 150,000 new rooms becoming available within the US market in 2016.

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Trivago Hotel Price Index North Africa Trend Hospitality - December 2015
This month the hotel rates of major cities and regions of the North African countries show little change. If Morocco and Egypt see their hotel rates increase by 4% and 2% compared to last month, accuses Tunisia for its 6% decrease including - 11% in Hammamet and Nabeul in the region.

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HotStats European Chain Hotels Market Review October 2015
Hotels in Istanbul suffered a 14.3% year-on-year decline in RevPAR (Revenue per Available Room) for the month of October as a result of declines in both occupancy (-4.3 percentage points) and achieved average room rate (-8.5%), but are fighting hard to maintain profit, according to the latest HotStats data.

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French Hotel Industry Performance - October 2015
As the months go by, the pattern observed thus far is becoming stronger. Although year-to-date performances at the end of October were more or less balanced, October marked a strong decline in almost all categories, compared (true) to a good October 2014. The sharp drop in Ile-de-France hotel performances was decidedly the most striking feature and dragged down average performance in France as a whole.

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November

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HotStats UK Chain Hotels Market Review October 2015
Hotel Profit in Cardiff Surges by 116.5% as Rugby World Cup Fills City. Despite the exit of their home nation in the quarter finals of the tournament, hoteliers in the Welsh capital were wearing broad smiles in October as they recorded a 116.5% year-on-year increase in Gross Operating Profit per Room (GOPPAR) for the month as the city swelled with Rugby World Cup fans, according to the latest data from HotStats.

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The Hague - Market Snapshot, 2015
The Hague is the third largest city in The Netherlands, after Amsterdam and Rotterdam, and the administrative capital of the province of South Holland. The city is the seat of the Dutch government and home to more than 160 international organisations, such as the International Court of Justice, the International Criminal Court and over 100 foreign embassies and consulates.

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Remarkable Boom In The South Florida Hotel Market | By Kathy Conroy
During the September 2015 HVS South Florida Hotel Market Connections (SFHMC) event, one message stood out loud and clear: just when we thought South Florida couldn't get any hotter, it is. Miami-Dade, Broward and Palm Beach hotels are all celebrating record-breaking years in ADR, occupancy and RevPar.

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Mercury Rising on the Spanish Hotel Market - Hotel and Tourism Highlights
This article considers some of the key trends we have seen in both urban and resort markets in Spain over the last few months. We focus more specifically on Madrid and Barcelona, as well as Marbella, Ibiza and Tenerife as prime examples.

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Santa Monica Hotel Market Update
Driven by the tourism and tech industries, Santa Monica's lodging market continues to boom, reaching record levels. Investors are eager to enter the market as they look toward redevelopment and new build opportunities.

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Western European Economy Gathering Steam, Business Travel Experiencing Breakout
Business travel spending in Germany, the U.K., France, Spain and Italy combined will grow at over 6 percent in 2015 and 2016, a leading indicator that the European economy is \"gathering steam\" and is poised for a moderate economic breakthrough. These findings are part of the semi-annual GBTA BTI Outlook Western Europe report, conducted by the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA), and sponsored by Visa, Inc. These five markets comprise nearly 70 percent of Western Europe's business travel market. Business travel spending in the countries will grow 6.4 percent in 2015 and another 6.3 percent in 2016. In total, this segment of the Western European business travel market will grow from $186.3 billion USD (140.2 [1] billion) in 2014 to $210.6 billion USD (220.3 [2] billion) in 2016. \"The study shows that the European economy is gathering steam and beginning to put its economic woes in the rear-view mirror,\" said Catherine McGavock, GBTA's Regional Vice President EMEA. \"Business travel is faring even stronger than the moderate economic breakthrough, with double digit spending growth in Germany as well as over 7 percent growth in both the U.K. and Spain this year. Still uncertainties in the global economy present risks to this business travel breakout, leading to a cautiously optimistic outlook for many companies.\" After 2014 proved to be a bounce-back year for Western European business travel, the recovery continues to pick up the pace in 2015 with Germany, the UK and Spain leading the way, according to the report. Germany represents over 20 percent of Western Europe's business travel activity and continues to be the strongest market on the continent. The UK has exhibited some of the strongest performance in the region as improving employment and low energy prices have spurred consumption. Spain continues its impressive economic turnaround and is expecting robust business travel growth th

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Hoteliers Improve Average Daily Rate Performance Despite Weakening Reservation Pace
As hoteliers prepare for the holiday season and head into the new year, hotels in major North American markets are experiencing a strong, improved ADR (average daily rate) performance, according to new data from TravelClick's October 2015 North American Hospitality Review (NAHR).

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HVS Asia Hotel Operator Guide 2015 - Summary
The report provides owners and investors a unique reference about the presence and scale of 53 international operators with 182 brands, across 791 markets and 5,400 properties in Asia. To purchase the full version with operator profiles, click here.

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Room for growth: European cities hotel forecast for 2015 and 2016
2014 was a good year for hoteliers. Europe attracted 22 million more international tourists than it did in 2013. All but two of the markets we look at saw RevPAR growth, and many are breaking records, especially on occupancy.

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HotStats MENA Chain Hotels Market Review September 2015
Dubai and Kuwait hotels experience weakening performance levels. Five and four star hotels in Dubai continued to experience weakening average room rates (ARR) in September, falling 2.3% to US$207.55. Occupancy levels remained stable, albeit marginally lower than the same period last year at 76.6%. The reduction in revenue per available room (RevPAR) was compounded by significantly lower food and beverage revenues which fell 19.0%, driving total revenue per available room (TRevPAR) 8.1% lower to US$282.55. Slightly higher operating expenses compounded the lower overall revenues, reducing gross operating profit per available room (GOPPAR) by 8.7% to US$84.66.

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October

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French Hotel Industry Performance - September 2015
September was encouraging for hotels on the Cote d'Azur and in regional France as they continued to post growth in occupancy and average rates. On the other hand, having stagnated, or even declined, in recent months, Parisian hotels struggled. Although year-to-date performances at the end of September are slightly higher than last year, the final trimester is important in determining 2015's end result.

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Prices Are Dropping: Where Travellers Can Make The Best Bargain
Due to dropping prices for accommodation, low prices for oil, and weak foreign currencies, travelling for a bargain is easier than ever. The price barometer of international booking portal HOTEL INFO shows which destinations cost the least and how accommodation expenses fare within the UK.According to calculations published by the Office for National Statistics (ONS), the Consumer Prices Index (CPI) in the UK has dropped by 0.1% in September 2015*. Especially fuel prices have gone down. Prices for accommodation services, however, have increased slightly, according to studies carried out by the international booking portal HOTEL INFO. Thereby, the accommodation price trends vary drastically from town to town, as can be seen in the latest price barometer.Edinburgh and Coventry decidedly cheaperLondon is represented with a plus of 7.35 %, reaching 144.53, in the latest price barometer, and is therefore still very high-priced. Numerous trade fairs and several events resulted in a high demand for rooms and a high revenue for hotel owners.In Edinburgh, Coventry and Leeds, on the other hand, people could make a bargain. Accommodation costs in the Scottish capital dropped by an average of 16.38 % to 92.54, whereas in the industrial town in the West Midlands they went down by 10.73 % to 74.75, and in Leeds they went down by 7.79 % to 88.91.

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2015 Canadian Hotel Valuation Index
The HVS 2015 Canadian Hotel Valuation Index (HVI) not only releases countrywide hotel values for 2014 but also projects the direction of these values through 2018.

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HotStats UK Chain Hotels Market Review September 2015
Rate Growth Across All Segments Signals Trading Success for East Midlands. Hoteliers in the East Midlands successfully recorded growth across all key market segments this month to fuel a 6.8% year-on-year increase in RevPAR (Revenue per Available Room), according to the latest data from HotStats.

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Global tourism shakes off crises - 23rd World Travel Monitor Forum in Pisa
ITB World Travel Trends Report forecasts rising figures for world tourism Germany remains world champion for outbound trips - Latest surveys by the IPK World Travel Monitor published exclusively by ITB Berlin

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Hamburg - Market Snapshot, 2015
With a population of around 1.8 million, Hamburg is the second most populated city in Germany. Over the last decade, the city underwent major developments, counting two iconic transformations: the successful extension and modernisation of the port which has become the second largest port in Europe in terms of container volume and the ongoing redevelopment of the HafenCity, one of the most important urban conversions in Europe.

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PolyU Study Finds Chinese Luxury Hotels Equalling Foreign Rivals
Domestic travellers in China are equally satisfied with foreign and domestic luxury hotel brands, according to Professor Cathy Hsu of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University in a recently published research article. Considering the brand evaluations of domestic travellers at both foreign and domestic brand luxury hotels, Professor Hsu shows that any previously perceived differences in quality between the two no longer exist. Chinese hotel guests, she writes, are now \"just as satisfied\" when staying at domestic brand hotels as they are when staying at their foreign counterparts. This equivalence has obviously important implications for the Chinese hotel sector.

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Fifty Percent of Holiday Travelers Wait for Last Minute Deals Before Booking
New research from ADARA, the leader in leveraging global travel data to drive future business performance, reveals that there is still time for marketers to influence holiday travelers who are in the planning and pre-purchase modes. TheHoliday 2015 Travel Prediction report shows that in 2014, only half of all holiday flights were booked by November 17, and half of all holiday hotel stays were booked after December 14.

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Passport Stamps and Travel Budgets: Asia Pacific Travellers Taking More Trips, Spending More
Travellers from Asia Pacific are filling up their passport pages at a faster rate than their global counterparts and are now leading the world in leisure travel, according to Visa's Global Travel Intentions Study 20151 (\"Study\").

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Toulouse - Market Snapshot, 2015
Ideally situated in southwestern France, between the Atlantic Ocean and the Mediterranean sea, Toulouse counts 455 000 inhabitants, making it the country's fourth largest city behind Paris, Marseille and Lyon.

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Q3 2015 Greek Hospitality Industry Performance
This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socioeconomic developments

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PKF-HR issues U.S. lodging forecast at Historic Hotels of America annual conference
The outlook for the U.S. lodging industry, particularly historic hotels, continues to be extremely strong, according to PKF Hospitality Research (PKFHR is a CBRE company). For the second consecutive year, PKF Hospitality Research, a CBRE Company (PKF-HR) presented a Historic Hotels of America PKF-HR five-year forecast at the Historic Hotels of America annual conference. PKF-HR relies on historical hotel performance data from STR, Inc., and economic forecasts from CBRE Economic Advisors, to prepare its lodging forecasts.

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In Focus: Malaysia - Finding the Silver Lining
The article outlines the performance and outlook of the tourism and hotel industry in Malaysia. Given the strength of the market fundamentals and investment in tourism infrastructure, there's still potential for future growth.

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Africa tourism set for sustained growth
The hotel and tourism industry in Africa is beginning a period of sustained growth, according to the sector's leading experts gathered at the Africa Hotel Investment Forum in Addis Ababa (http://www.Africa-Conference.com).The conference heard that inward international flights were recovering after being hit by the ebola outbreak. And the hotel sector reported significant expansion, as well as increased visitor numbers, boosted by demand from African business.Now in its fifth year, AHIF (30 September to 1 October 2015) brought together 500-plus leading international hotel investors, local operators, ministers, government officials and industry experts from around 40 countries.The immediate good news came from ForwardKeys, which monitors future travel patterns by analysing 14 million reservation transactions each day. Its analysis showed there was an increase of 6.4% in international arrivals in September in Sub-Saharan Africa. The upturn marked a turning point after the ebola outbreak, which had wiped out four years of strong growth.

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HotStats MENA Chain Hotels Market Review August 2015
Dubai and Amman hotels feel the pressure of declining profits. Four and five star hotels in Dubai reported weakening performance levels in August, with revenue per available room (RevPAR) declining 10.1% to US$147.45 for the month compared to the same period last year. Due to a marginal rise in occupancy levels by 0.6 percentage points, the contraction in room revenues was led largely by average room rates (ARR) falling 10.8% to US$196.49. The drop in room revenues also impacted total revenue per available room (TRevPAR) which fell 10.6% to US$271.01. Profitability levels remained under pressure as key operating expenses rose, causing gross operating profit per available room (GOPPAR) to drop by 9.8% to US$69.10.

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HotStats European Chain Hotels Market Review August 2015
Hotels in Budapest Refusing to Slow Down. Hoteliers in Budapest recorded growth of 21.6% in RevPAR (Revenue per Available Room) this month, which contributed to an increase in GOPPAR (Gross Operating Profit per Available Room) of 20.5% as performance in the Hungarian capital goes from strength to strength, according to the latest data from HotStats.

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UNWTO/PATA Report Global Trends Shaping Tourism in Asia-Pacific 2nd Edition
The second edition of the UNWTO-PATA Tourism Updates has been released and is available for free download. The highlight article of this edition is an article headlined: Fifteen global challenges that will determine the \"State of the Future\".

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HotStats UK Chain Hotels Market Review August 2015
Lack of Summer Sun Fails to Dull Spirits of North West Hoteliers. Hotels in the North West sizzled this August despite the soggy summer, recording a 5.2% increase in Revenue per Available Room (RevPAR), to 56.69, which contributed to a 3.8% increase in Total Revenue per Available Room (TrevPAR), to 101.43, according to the latest data from HotStats.

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September

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French Hotel Industry Performance, August 2015
After two months of recovery, August showed mixed results depending on category and location. While \"intermediary\" categories (Midscale, Upscale) resisted well thanks to higher average rates, Superbudget hotels confirmed declines in RevPAR. For higher-end hotels, August's results varied from region to region, resulting in an overall drop in occupancy and rates. Despite all this, August's results must be put in perspective when compared with August 2014 a particularly good month and year-to-date growth, which remains positive.

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Key Takeaways, 4th Annual HVS Hotel Market Connections
The North American hotel industry is still firing on all cylinders, with yearto-date occupancies at an all-time high. While some markets face challenges from new supply, prospects appear healthy in the near term.

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UNWTO/PATA Report Global Trends Shaping Tourism in Asia-Pacific
Bangkok/Madrid The UN World Tourism Organisation (UNWTO) and the Pacific Asia Travel Association (PATA) have joined forces to publish a series of bi-monthly reports highlighting the linkage between the global travel industry and the UN's new Sustainable Development Goals (SDGs).

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HVS Annual Hotel Market Connections Conference Series Highlights Improvements in Hotel Performance, Demand
The annual HVS Hotel Market Connections conference series produced by HVS's Hotel Consulting & Valuation division revealed overall positive trends in supply, demand, performance, and transaction dynamics in top North American hotel markets. Nationwide, occupancy hit a new high in July 2015, surpassing the prior peak set two decades earlier. As demand continues to outpace new supply across the U.S., the upward trend is expected to continue through 2018. As of September, more than 3,500 hotelsapproximately 430,000 roomswere in the planning or construction stages of development in the U.S. For major hotel transactions (representing a price of $10 million or higher), 993 properties totaling 155,275 rooms were sold through the trailing-twelve-month period ending in June 2015. At approximately $250,000, the average price per room has reached an all-time high for these major transactions.

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2015 Hotels in India: Trends & Opportunities
The Trends & Opportunities Report analyses the key hospitality trends, highlighting 13 Indian markets. The report also presents existing and future opportunities in the hospitality industry of interest to investors, developers and hotel operators.

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In Focus: Philippines - A Diamond in the Rough
The Philippines has started to perform closer to its true potential by focusing on growing its BPO and Tourism sectors. This article aims to showcase the country's potential and evaluate current performance given the changes in its tourism market.

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In Focus: Belgrade, Serbia
This market snapshot summarizes the recent tourism trends and developments in the Serbian capital, Belgrade.

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French Hotel Industry Performance, July 2015
Looking at June's results, we had dare hope that the French hotel industry was on the road to recovery July's performance helped confirm our hopes, particularly at the upper end of the scale. The clement weather in July was obviously one reason for this. However, depending on the region and the hotel category, the shift in Ramadan also had a positive effect. The only fly in the ointment was the Budget and Super-budget categories who failed to benefit from this bright spell.

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2015 Manhattan Lodging Overview - 2Q | By Roland deMilleret and Erin S. Bagley
The 2015 HVS Manhattan Lodging Overview examines the effects of up and down economic cycles on Manhattan hotels, reviewing trends in hotel performance, supply, and demand over the past 25 years. The report also provides the most current information available on today's market, as well as forecasts for supply growth and hotel performance.

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HotStats MENA Chain Hotels Market Review July 2015
Abu Dhabi Hotels reported a 27.2% growth in revenue per available room (RevPAR) to US$73.01 in July, driven by a 10.5 percentage point rise in occupancy levels to 60.8%. The improvement in RevPAR can also be attributed to an average room rate (ARR) growth of 5.2% to US$120.05. The rise in room revenues helped offset the decline in food and beverage sales during the month and translated to a 19.9% increase in total revenue per available room (TRevPAR). A growth in overall revenue helped hotels in the city increase gross operating profit per available room (GOPPAR) to US$11.40.

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HotStats European Chain Hotels Market Review July 2015
July was a strong month for Barcelona as the city registered an 18.5% increase in revenue per available room (RevPAR) thanks to a 1.5 percentage point uplift in occupancy combined with a 16.6% growth in average room rate (ARR). Further increases were reported in revenues per available room derived from food (+16.1%), beverage (+14.7%) and meeting room hire (+4.3%) which further supported the total revenue per available room (TRevPAR) growth of 17.1%. A decrease in payroll (-1.7 percentage points) resulted in departmental operating profit per available room (DOPPAR) rising by 21.8% to 198.64 leading to a GOPPAR growth of 24.9% to 151.61.

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PKF Hospitality Research Not Concerned About The Current Tumultuous Stock Market
September 1, 2015, Atlanta, Ga. Recent gyrations on Wall Street may have hoteliers questioning whether this is the beginning of the end to the good times that have characterized the U.S. hotel industry for the past five years. PKF Hospitality Research (PKF-HR), a CBRE Company, does not believe so and is reaffirming its near-to-mid-term forecast for strong lodging financial performance. According to PKF-HR's recently released September 2015 edition of Hotel Horizons, U.S. hotels will continue to enjoy above long-run average revenue per available room (RevPAR) growth through 2018.

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HotStats UK Chain Hotels Market Review July 2015
North East hotels grow bottom lineThe UK provincial hotel market registered positive year-on-year movements across all key performance indicators for the month of July. Hotels in the North East recorded a 3.3% increase in gross operating profit per available room (GOPPAR) according to the latest data from HotStats.

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August

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Indonesia Hotel Watch 2015 | By Bhoomija Vadehra
2015 has been a year of change and opportunities for Indonesia's hospitality industry, with various political and economic factors affecting the country, which have in turn had varying levels of impact across its different markets. Policies anticipated to make a lasting impression on the industry's performance include the controversial ban on government meetings in hotels and the ban on foreign currencies in domestic transactions. The effects have been felt heavily in some markets, and in others the full impact of these policies remains to be seen.

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Whitebridge EMEA Hotels Monitor, Issue 16
The last six months have been something of a political rollercoaster in Europe. In January, Greece voted for the left wing Syriza party and faced the Grexit precipice. In May, the UK elected a Conservative government with a surprise majority. Multiple terror attacks across Europe and North Africa tested home security and the increasing flow of migrants across the Mediterranean has finally made the world stand up and think about how best to tackle IS. Against this turbulent backdrop the hotel sector in EMEA appears to be sailing serenely towards record performance levels. Whilst Moscow and Istanbul continue to slide, most destinations appear to be in positive RevPAR territory. The standout performer was Cairo (+72.7% in RevPAR), which is great news for this strife torn nation.

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Are Hotel Management Companies All the Same? 2015 Hotel Management Benchmark Study | By Hans Detlefsen and Emiliia Gordiienko
Hotel Appraisers & Advisors (HA&A) recently completed our 2015 Hotel Management Company Benchmark Analysis. The study was designed in response to a series of questions we frequently hear from our clients in the hotel industry. These developers and investors seek our help identifying hotel operators and negotiating hotel management contracts. They ask us: Aren't most hotel management companies basically the same? How much does it really matter which operator we select? Is there any quantitative data suggesting that different management companies produce different profitability results?

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CBRE Forecasts High-end Franchising to Increase by 50% Over the Next Five Years Across Europe
Commercial property consultant firm CBRE reports that more than 50% of all new four-star hotel deals taking place over the next five years will be under franchise rather than traditional management agreements with branded operators.

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PKF U.S. Hospitality Research Forecast Accuracy Remains High
PKF Hospitality Research (PKF-HR), a CBRE Company released the results of their latest assessment of the accuracy of their Hotel Horizons forecasts for the U.S. lodging industry. This is the fourth periodic review conducted by PKF-HR since 2005 and is an important and critical component of the firm's forecasting efforts.

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French Hotel Industry Performance - June 2015
Further to a lacklustre month of May with destinations posting conflicting results, June seemed to herald a recovery throughout France. Depending on the category and zone, this recovery amplified the positive results or helped make up for the negative performances recorded since the start of the year. The good weather and the announced beginning of economic recovery doubtless favoured this, although June 2015 is being compared to June 2014 which was particularly quiet given the lack of major events.

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HotStats MENA Chain Hotels Market Review June 2015
Sharm El Sheikh hotels experienced a 4.8 percentage point increase in occupancy levels to 64.6% in June and when coupled with a 2.9% increase in average room rate (ARR) to US$38.61, resulted in revenue per available room (RevPAR) growing 11.2%, compared to the same period last year. Complemented by solid food and beverage demand, total revenue per available room (TRevPAR) rose by 10.6%. Despite a strong revenue performance, hoteliers witnessed a 17.6% reduction in gross operating profit per available room (GOPPAR) to US$7.19. The decrease in profitability was attributed to an escalation in payroll costs by 2.9 percentage points and an overall rise in operating expenses.

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Continued Growth in the Dallas Hotel Market | By Nuresh Maredia
The Texas economy had a bumpy start in 2015 due to a sharp drop in global oil prices in late 2014, which resulted in thousands of lost jobs. However, the continued growth of the Dallas-Fort Worth market's broad and diversified economy is one reason Texas managed to stave off a downturn despite those oil-related job losses. A diversified and growing economy, robust convention market, growing tourism and increasing population have all contributed to the success of the Dallas-Fort Worth hotel market. The hotel market occupancy increased from 52.8% in 2009 to 67% in 2014 and is projected to grow for the foreseeable future.

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Q2 2015 Greek Hospitality Industry Performance
From the end of June until the Euro summit of the of July 12, the Greek tourism sector saw a significant drop in late bookings, particularly from Germany. However, as many trips had been booked long before and deposits are usually not refunded following a cancelation, the impact has been limited. Today with easing fears of capital controls as cash withdrawals do not affect foreign bank card holders, hotel bookings are recovering and tour operators and airlines mention that their reservations are showing renewed energy showing mild increases overall compared to last year. Turkey's recent involvement in the war against IS and the terrorist attack in a beach hotel in Tunisia could also be of influence.

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July

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Central Florida Hotel Market: Orlando's Transformation | By Donald Stephens Jr.
Following a steady restabilization period since the economic downturn, Orlando's hotel market is back on top. Through the first half of 2015, all three indices, occupancy, average daily rate (ADR) and revenue per available room (RevPAR) continue to demonstrate significant growth. Comparative to period ending June 2014, Orlando's current room inventory reflects a mere 1.7% increase, while demand (occupied room nights) increased 5.7%. Orlando's occupancy rate increased from 76.9% to 80.1%, representing a percentage change of 4.1% over the same six-month period in 2014 - surpassing an occupancy threshold for the first time since 1998, seventeen years ago. Average rate grew 4.4%, and RevPAR ended the first half of the year up 8.7%

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CBRE Hotels Australian hotel market update
While the fundamentals in many of Australia's traditional property asset classes are benign, the dynamic characteristics of the hospitality market continue to place the hotel sector under the investment spotlight. According to CBRE Hotels' latest Australian Hotel Market Update, RevPar grew by 3.4% across Australia's major hotel markets in the first half of 2015, relative to the previous corresponding period.

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HotStats European Chain Hotels Market Review June 2015
Gross Operating Profit per available room (GOPPAR) at hotels in Amsterdam and Hamburg surged by 15.0% and 14.2% respectively in June, according to the latest HotStats.

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Euro vs. British Pound Comparison: Hotel Prices up to 21% cheaper in GBP; 15% more expensive in Euros
With the pound at an eight year high against the euro, hotel search website trivago.co.uk has analysed the average cost of a hotel room in both euros and pounds. Based on the 12 most popular countries in the Eurozone, prices in July 2015 compared to July 2014 have increased in euros and decreased in pounds.

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HVS In Focus: Sonoma County California Hotel Market | By Anurat Rojanapairat and Ester Wan
As a major Northern California recreational and tourist destination, the Sonoma County hotel market is flourishing. With more available land than neighboring Napa, lower barriers to entry, and healthy demand levels, hotel supply is increasing.

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Trends and Opportunities: Israel Hotel Market Overview 2015 | By Jill Barthel and Russell Kett
Numerous international companies are showing increased interest in the Israeli hotel market. This article provides an insight into the country's tourism demand, its hotel market and hotel values and investment.

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French Hotel Industry Performance - May 2015
A mixed bag in May: some regional destinations post real growth in RevPAR, with Paris, Lille, Marseille and others recording a drop. Does the explanation lie in the bank holidays or the timing of the school holidays? In May, the French hotel industry was laughing one day and crying the next. Results varied widely throughout France, with some destinations recording sharp drops in RevPAR and others strong growth.

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PKF Consulting USA Lodging Insights - July 2015
Mark Woodworth and Jack Corgel discuss recent pessimism in the lodging industry and what to expect for the balance of 2015 and 2016. Mark then gets Jack's opinion on recent trends in labor costs for hotels. PKF Consulting, USA (www.pkfc.com), a CBRE Company, is an advisory and real estate firm specializing in the hospitality industry. PKF Hospitality Research is the research affiliate of PKFC. The firm has offices in New York, Boston, Indianapolis, Nashville, Chicago, Philadelphia, Washington DC, Atlanta, Jacksonville, Tampa/Orlando, Houston/Dallas, Los Angeles, Bozeman, and San Francisco. 

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Marrakech 1001 Hotels | By Nicole Perreten and Sophie Perret
Marrakech has established itself as a popular tourism destination over the past decade and has shown phenomenal growth in visitation. This article discusses recent tourism trends and hotel performance and provides an overview of the hotel pipeline.

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International tourist arrivals up 4% in the first four months of 2015
International tourism demand continued to be robust between January and April 2015 with tourist arrivals increasing 4% worldwide according to the latest UNWTO World Tourism Barometer. Almost all regions enjoyed strong growth. Prospects for the May-August period remain upbeat, with close to 500 million tourists expected to travel abroad during these four months.

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HVS In Focus: Silicon Valley Hotel Market Update | By Hari Jun
Driven by the tech industries, Silicon Valley's lodging market continues to boom, reaching record levels. Despite the opening of a number of new hotels, with more under construction and in the pipeline, lodging demand continues to outpace supply in the market. Eager to get a piece of the pie, investors have looked toward acquiring and redeveloping existing assets. Conversions and rebrandings at a number of hotels following recent transactions reflect that brand affiliations are still important in this market.

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The HVS Greater China Update 4th Quarter 2014
Markets in the region are experiencing some headwind amid an economic slowdown, changes in demand patterns and increases in supply. Hong Kong received 16.1 million visitors in the third quarter of 2014, reflecting an 11.2% yearon-year (YOY) growth. Despite the Occupy Central Campaign, growth was mainly driven by Mainland Chinese visitors. Looking forward, it is difficult to estimate the effect of the Occupy Central Campaign. There were a total of 12.8 million mainland Chinese visitor arrivals (79.6% of the market share) during the period. According to CAPA Centre for Aviation, the fast growth in the South Korean market was mainly attributable to the expansion of low cost carriers connecting Seoul and Hong Kong, dominated by HK Express with two daily flights

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Whitebridge HotelBeat - Barcelona Overview
Whitebridge Hospitality is pleased to issue its latest research in the form of a quick overview of Barcelona's hotel sector, based on a recent highest-and-best-use study undertaken in the city. Hotel Performance Trends: Generally speaking, the growth in supply has been matched by growth in demand since 1990 and occupancy has been relatively stable over the period. Indeed since 2010, room occupancy has barely fluctuated from an average of circa 77% per annum. Although increased supply is being absorbed successfully and occupancies are stable, the effects of such dramatic increases in supply are being felt in terms of ADR, which has only increased in small increments. Graph below shows the variance between different hotel grades in terms of occupancy and ADR in 2013 and 2014.

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June

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French Hotel Industry Performance - April 2015
April's results were generally somewhat gloomy. However, a closer look reveals a contrasting hotel landscape. After the brief lull in March, the Capital began to slide again. On the other hand, regional cities benefited from the school holidays, allowing them to record relatively good trading results in April.

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HVS Releases 2015 U.S. Hotel Valuation Index
HVS, the world's leading hospitality consulting and valuation firm, in collaboration with Smith Travel Research, is pleased to deliver the 2015 U.S. Hotel Valuation Index (HVI). The HVI offers critical information on 65 U.S. hotel markets and the nation, including:

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PKF Hospitality Research Issues Consistent U.S. Lodging Forecast
The outlook for the U.S. lodging industry continues to be extremely strong, according to the recently released June 2015 edition of PKF Hospitality Research's (PKF-HR) Hotel Horizons (PKF-HR is a CBRE company). The report forecasts that U.S. hotels will continue to enjoy revenue per available room (RevPAR) growth more than twice the long-run average (7.2 percent increase in 2015 and 6.8 percent in 2016). The slowdown in 2016 should not worry hoteliers because the growth in average daily room rate (ADR) will drive the increase in RevPAR, which ultimately is more profitable for hoteliers.

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2015 Manhattan Lodging Overview | By Roland deMilleret and Erin S. Bagley
The 2015 HVS Manhattan Lodging Overview examines the effects of up and down economic cycles on Manhattan hotels, reviewing trends in hotel performance, supply, and demand over the past 25 years. The report also provides the most current information available on today's market, as well as forecasts for supply growth and hotel performance. The 2015 HVS Manhattan Lodging Overview provides detailed insight and data-rich graphs, charts, and tables in order to track the trajectories of hotel supply, demand, and performance. Together, these insights shed light on the most current factors affecting the hotel landscape in Manhattancritical market intelligence that hotel developers, lenders, owners, and brand representatives can put to use.

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Excerpts: China Hotel Investment Watch 2015
The annual China Hotel Investment Watch, now in its sixth edition, serves as an important indicator of the investment climate in the Chinese hotel market for stakeholders in their effort to evolve the Chinese hotel industry to the next level!

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May

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HotStats European Chain Hotels Market Review April 2015
Both Barcelona and Brussels hoteliers reported significant year-on-year increases in gross operating profit per available room (GOPPAR) of 30.5% and 34.7% respectively, according to the latest data from HotStats.

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HotStats UK Chain Hotels Market Review April 2015
In April, London hotels posted negative results with a decrease in gross operating profit per available room (GOPPAR) mainly driven by rooms revenues. On the other hand, the UK Provinces once again recorded positive year-on-year movements across all key performance indicators, according to the latest data from HotStats.

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HotStats MENA Chain Hotels Market Review April 2015
In April, a 10.8 percentage point reduction in occupancy levels to 62.3% had a direct impact on the performance of Amman hotels. The lower demand during the month saw both average room rate (ARR) and revenue per available room (RevPAR) fall by 4.3% and 18.5% respectively to US$154.94 and US$96.48. Hotels were able to offset the decline in room revenue with stronger food and beverage demand, which increased by 19.0% and 4.7%. Hotel profits were impacted by higher operating expenses, falling by 25.1% to US$55.26.

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Hotel Occupancy Continues to Surprise in 2015 According to PwC US
An updated lodging forecast released today by PwC US expects another year of solid revenue per available room (\"RevPAR\") growth in 2015, with a stronger-than-previously-expected increase in occupancy levels, offset by softer than anticipated growth in room rates. Despite weak U.S. economic performance driven in part by unseasonably harsh winter weather conditions, the U.S. lodging sector registered solid demand performance during the first quarter of 2015, with a year-over-year increase in RevPAR of 8.0 percent, and increasing demand levels driving RevPAR increases to a larger extent than previously anticipated. PwC expects this positive momentum in demand to continue for the remainder of 2015, supporting a RevPAR increase of 7.0 percent in 2015. In 2016, PwC expects RevPAR to grow 6.1 percent, driven almost entirely by average daily rate (\"ADR\").

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French Hotel Industry Performance - March 2015
The situation started to pick up a little for the French hotel industry in March. Although hotels did not record exceptional results, March did allow the first trimester to close on a positive note, particularly in Paris. This was especially the case for Budget and Midscale hotels, and to a certain extent, Upscale hotels, too.

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Middle-East Hotels Face Supply Glut According to PwC's Middle East Hotel Forecast Report
This first edition of our Middle East cities hotel forecast is published amidst some of the fastest growing tourism and hotel markets in the world. There are six cities in this new Middle East econometric forecast - Abu Dhabi, Doha, Dubai, Jeddah, Muscat and Riyadh. All are important gateway or capital cities and/or business and tourism destinations. Some are emerging as magnets for Meetings, Incentives, Conferences and Exhibitions (MICE), Mega Events and leisure/ shopping travelers. Some, including Dubai and Doha are heading at breakneck speed into the future. Dubai will host the Expo in 2020 and Qatar the FIFA World Cup in 2022. Although outside the parameters of this forecast, planning is already heavily underway and will mean significant new supply preparations.

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