The global spa movement, which includes wellness tourism, amounts to upwards of $3 trillion dollars per year. What physical and strategic elements are key to driving bottom-line performance at traditional and wellness-focused spas?
Richmond was recently rated among the world’s top tourism destinations, and leisure demand remains a pillar of the city’s hotel industry. Corporations, government institutions, and conventions are also driving occupancies and interest in new supply.
Hotel stakeholders shared a diversity of insights into U.S. hotel industry trends during the lifecycle of a hotel, including development, conversion/repositioning, and disposition.
Investors, buyers, bankers, appraisers, and owners gathered at the Hunter Hotel Conference in Atlanta, Georgia, March 22–24, 2017.
For 2017, the highest RevPAR growth is anticipated for markets such as Sacramento, Washington D.C., Tucson, Chicago, Salt Lake City, Albuquerque, Houston, and Nashville, per the ALIS presentations.
Traditional hotel development in ski resort towns has slowed nearly to a halt, with barriers like limited land and high costs putting pressure on new builds. But hotel demand and performance are on the rise and the “barriers” may not be so imposing.
Hotel assets continued to appreciate in 2016, but at a more modest pace due to slowing RevPAR growth and a rise in cap rates. The stock market rally following the election has led to cautious optimism about what 2017 will bring.
Iceland has seen explosive tourism growth since 2010. Summer's midnight sun, Winter's Northern Lights and year-round natural beauty have kept the tourists coming, resulting in strong hotel performance and a booming sharing economy.
Demand from a variety of sources has risen in Chicago, pushing occupancy to a ten-year high in 2015. More than 6,000 new rooms are expected in the market over the next three years, though average rates and hotel values should continue to grow.
Nearly 300 stakeholders in hospitality markets across the Caribbean came together in San Juan for HVS’s 6th annual regional hotel conference. What are the latest revelations for the region’s hospitality industry?