HVS publication In Focus Singapore 2022 provides an overview of Singapore’s economic outlook, infrastructure development, tourism landscape and hotel market performance, hotel transactions and investment in 2021, integrated resorts overview, COVID-19 situation and outlook.
Buyers face challenges with high pricing, elevated operating costs, and labor issues, but the industry remains optimistic.
Caravan tourism, a well-established niche segment of experiential tourism globally, is still at a nascent stage in India. Collaborative efforts by government agencies and industry stakeholders can help this segment become a success.
The number of visitors to Las Vegas exceeded 32.2 million in 2021, which was 10.7 million below the peak number of visitors in 2016. However, gaming revenue in Clark County in 2021 was $11.5 billion, which was approximately $600 million above the prior peak achieved in 2007. Occupied rooms in Las Vegas grew 70.7% in 2021, compared to 2020, from 21.2 million to 36.2 million; total occupancy for the year was 66.8%.
The Indian hospitality industry has long struggled with a shortage of trained workforce. Several factors and perceptions have contributed to this, and the situation is expected to worsen post the pandemic.
Since the onset of the COVID-19 pandemic, the San Francisco Bay Area has been one of the most severely affected markets in the nation. Silicon Valley, despite its status as the technology capital of the world, experienced significant declines in lodging performance because of its historical reliance on higher-rated business travel. This article discusses the changing business dynamics in Silicon Valley and the impact of the pandemic on the local hotel market.
Jammu & Kashmir has seen a significant increase in tourist traffic since the region's lockdown was lifted, however, the region is still largely unexplored with the potential to become a year-round tourist destination.
In 2021 limited/select service hotels which represent almost half of the hotels in Canada are leading the recovery over 2019 with hotel demand down by 20% and average rate down by 8% resulting in a RevPAR decrease of 28%. We will be much closer to recovery when the removal of COVID restrictions allow our full-service hotels to follow in the limited/select service footsteps.
The Middle East consists of a diverse range of hotel markets that are stimulated by varied segments of the demand and investment sphere. Hala Matar Choufany, president of HVS Middle East, Africa and South Asia, gives us an in-depth look at where the region’s hotel industry stands and what’s likely to unfold in 2022.
Omicron has resulted in increased travel restrictions and subdued travel demand around the world. Nonetheless, this time travel demand is likely to rebound at a much faster pace than in prior COVID waves. Continue reading to learn more.