As the nation is experiencing record levels of inflationary growth, rising wages, and labor shortages, the hospitality industry is encountering extreme difficulty finding workers. How are hotel owners and operators managing rising labor costs and inflationary risk to drive their bottom line during these unprecedented times?
In 2020, San Diego-area hotels suffered unprecedented declines in demand because of the COVID-19 pandemic, similar to most cities in the United States. Since then, many travelers have returned, and the greater San Diego hotel market has rebounded. What has the recovery looked like thus far? What must happen in the next 18 months for the market to reach pre-pandemic performance? What factors will shape the “new normal” for the market?
Philadelphia hotels experienced unprecedented declines in demand during the COVID-19 pandemic, similar to most top-25 markets in the United States. Considering the city’s large number of demand generators, Philadelphia hotels are well positioned for a recovery, albeit a slow one. How far did the Philadelphia hotel market fall? What factors will shape this recovery?
Reeling from the impact of new supply, seasonality, civil unrest, and a global pandemic, Minneapolis-St. Paul hotels faced a staggering RevPAR drop in 2020, worse than most cities in the United States. While the greater metro-area hotel market has begun to bounce back, it is at a much a slower pace than the national rebound. What has the recovery looked like thus far? When will the market return to pre-pandemic levels?
Remote work has opened several new avenues for hotels, including new customer segments and ancillary revenue streams. However, with most companies across industries now getting back to a hybrid or full work-from-office model, will these concepts continue to grow?
Buyers face challenges with high pricing, elevated operating costs, and labor issues, but the industry remains optimistic.
After facing a severe downturn in 2020 with a GDP contraction of around -2.1%, the Israeli economy rebounded strongly in 2021, recording growth of 7.1%. This article explores the hotel performance and development pipeline in Israel.
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%.
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.