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Originally seen HERE. Throughout 2020 and 2021, the extended-stay segment of the hotel industry has proved to be both pandemic and recession-proof. According to a report from the Highland Group, overall extended-stay hotel demand rose 8.6 percent in Q1 of 2021, while overall U.S. hotel demand decreased 11.9 percent. Extended-stay occupancy has been lower in 2021 than any first quarter Continue Reading about Extended-stay leverages strengths for continued staying power

Originally seen HERE. Merck made a formal request for EUA approval from the FDA Monday for its COVID pill treatment, known as 'molnupiravir'. Merck MRK said Monday it has submitted a formal application to the Food & Drug Administration for emergency approval of its oral COVID treatment.  Merck said it's seeking Emergency Use Authorization for the pill, known as Continue Reading about Merck Applies For Emergency FDA Approval Of COVID Pill Treatment

Originally seen HERE. Canadian and Mexican Borders Slated To Welcome Travelers on Nov. 8 Hoteliers in U.S. markets that have traditionally been heavily reliant on land travel from Canada and Mexico are excited about plans to reopen the borders of those countries to tourists, but they still believe it's too early to say just how significant the resulting demand will be. President Continue Reading about US Hoteliers Optimistic as Borders Reopen for Non-Essential Travel

Originally seen HERE. Optimistic signs of return and tangible recovery in the business travel sector could be seen over the past month. In the latest poll from The Global Business Travel Association (GBTA), half (52%) of industry respondents reported more optimism compared to September. October also saw an increase to 66% of those polled who said their companies are allowing Continue Reading about GBTA: New international border openings set to accelerate business travel

Originally seen here.U.S. group meetings volume in October increased 30.4% over September’s figure, according to data from Knowland, a provider of data-as-a-service insights on meetings and events for hospitality. Average attendees per event remains stronger than 2019 for the second month in a row. Additionally, average space used was still higher than 2019, however, the gap between these Continue Reading about Knowland: October U.S. meetings volume rises 30.4% over September

Originally seen HERE.Research from the World Travel & Tourism Council (WTTC) reveals the U.S. travel & tourism sector could experience year-over-year (YOY) growth of 35.6% in 2021, significantly outpacing the year’s overall global tourism recovery. The outlook is even more rosy for 2022, with the travel sector in the U.S. expected to grow by another 28.4%, reaching nearly $2 Continue Reading about WTTC: U.S. travel sector rebounds in 2021, may surpass pre-pandemic levels in 2022

Originally seen HERE.Even though interest rates have ticked up slightly, now is a good time to be a hotel seller due to the limited number of properties available in the open market.  Most markets have not seen supply significantly outpace demand, but virtually all properties are still waiting for the return of business travelers and group business. Given all the uncertainties already Continue Reading about Why a successful hotel sale depends on preparation

Origninally seen HERE. Although November U.S. group meeting volume decreased 12.4 percent over October, this decline reflects normal seasonality trends for this time of year with less of a decrease than pre-pandemic trends, according to the latest data from Knowland.   The average number of attendees per event continues its strong performance, outpacing the same period in 2019 for Continue Reading about November U.S. meetings, events reflect normal trends

Originally seen HERE. U.S. hotel occupancy came in lower than the previous week but reached an all-time high on Christmas, according to STR’s latest data through December 25, 2021. Christmas Day occupancy (47.2 percent) was just above the previous high from 2015 (47.0 percent). While Omicron-related closures and service disruptions affected performance in New York City, Continue Reading about STR: U.S. Hotel Occupancy Reaches All-Time Christmas High

by Steve Kirby, Managing PrincipalThroughout 2022, resilience will be the word heard most frequently in the lodging industry . Over two tumultuous years – through disease, labor shortages, supply chain issues and inflation - the hospitality industry has faced the challenges, reshaped itself, and moved ahead. The second most frequent reference will be hope. Hope that the issues out of our Continue Reading about Resilience and Hope in 2022

Originally seen HERE.As the ALIS Conference kicked off at the JW Marriott/Ritz-Carlton Los Angeles L.A. Live today, the American Hotel & Lodging Association released its 2022 State of the Hotel Industry report, developed with Accenture.  According to the report, the travel outlook for 2022 is “trending positively,” but the association expects “continuing volatility,” with full Continue Reading about AHLA releases 2022 State of the Hotel Industry report at ALIS

Originally seen HERE. Analysts at Lodging Econometrics (LE) report that at the fourth quarter close of 2021, the total U.S. construction pipeline stands at 4,814 projects/581,953 rooms, down 8% by projects and 10% by rooms year-over-year (YOY). While project totals have dipped slightly YOY, the number of projects in the early planning stage continues to rise. In the final quarter of 2021, Continue Reading about The U.S. Construction Pipeline Stands at 4,814 Projects/581,953 Rooms at Year-End 2021

Originally seen HERE. It’s the beginning of an entirely new industry, based around places and spaces that turbocharge employee gatherings. Retreats, offsites, onsites — call them what you want, but team building will be big business in 2022 as company travel budgets are steered towards the Great Reconnection. Although sales exces will likely be among the first lucky few to return to Continue Reading about Remote Work Is Defining a New Socialization for Business Travel