The recently released white paper Hospitality Inflation Report 2023 reveals that the hotel industry has effectively handled inflation and passed on the increased energy and labor costs to guests.
Long-Haul travel sentiment to Europe improves despite high global inflation
The desire for overseas travel in 2023 has increased significantly in large travel markets compared to a year ago. Over 60% of potential travellers in Australia, Brazil, Canada, China, and the US intend to travel long-haul in 2023, with Europe being top of mind. Travel sentiment to Europe in the first four months of the year has also improved, with the most notable year-over-year increases observed in China (+21 points) and Brazil (+13 points). The exception to these positive trends is Japan, with 27% of respondents enthusiastic about long-haul trips in 2023 as a whole and 13% between January and April.
Third Quarter trading update to 30 September 2022
Q3 group RevPARa +28% vs 2021; +2.7% vs 2019, with Americas +6.8%, EMEAA (0.1)% and Greater China (20.0)%
Average daily rate +13% vs 2021, +11% vs 2019; occupancy +8%pts vs 2021, -6%pts vs 2019
Gross system size growth +4.3% YOY; opened 8.0k rooms (51 hotels) in Q3, similar to Q2 and ahead of Q1
Underlying removal rate -1.7% YOY; removals YTD equate to an annualised underlying rate of -1.3%
Net system size growth +2.6% YOY on an adjusted basis
The global system of 888k rooms (6,061 hotels); 67% across midscale segments, 33% across upscale and luxury
Signed 13.2k rooms (89 hotels) in Q3, similar to Q2 and last year; global pipeline of 278k rooms, +2.9% YOY
UNITE HERE: At the Federal Reserve’s Doorstep Workers Demonstrate About Economic Woes with Subcontractor
Sodexo food service workers picket the employer at the Federal Reserve building in New York to demand a solution as wages aren’t keeping up with inflation
Macro-level obstacles little match for global hotel industry
The global hotel industry is producing strong performance numbers all against a climate of financial unease.
Staff shortages and cost of living looms for European tourism
Sudden surge in consumer demand coupled with staff shortages pose serious challenges for the sector going into the summer months.
Companies need to rethink their travel program for a new era
Ground transportation, sustainability, bleisure travel, and meal options are just a few of the considerations, according to a new study from Uber for Business and GBTA.
Move over COVID, business travel industry tackles new challenge
New GBTA poll shows business travel recovery remains strong while emerging issues challenge accelerated recovery.
Rising travel costs the leading concern across Europe
Overall, travel sentiment remains resilient in the face of ongoing challenges.
Inflation and gas prices impact travel decisions more than COVID
New survey conducted by Morning Consult and commissioned by the American Hotel & Lodging Association.
