The sentiment at the 2018 NYU Hotel Investment Conference was very positive for the industry with expectations of continued growth in the coming years. Among the wealth of relevant information from the conference, we identified several key takeaways that highlight the state of the industry in 2018 and beyond: Improved Performance: Occupancy and ADR will
The waterpark industry continues to expand in North America, with more than $1 billion in new investment in indoor and outdoor waterparks and their related resorts slated for 2018. In the latest edition of ParkWorld Magazine, David Sangree discusses new development and where the industry is heading in 2018 and beyond. https://content.yudu.com/web/69r/0Aiy7l/PWMay2018/html/index.html?page=24&origin=reader
David Sangree, MAI, CPA, IHSC and John Burke are headed to the NYU International Hospitality Industry Investment Conference, taking place June 3-5 at the Marriott Marquis in New York City. If you’re headed to the conference and would like to meet with David or John, click on their names to send an email.
Hotel News Now breaks down the CBRE “Trends in the Hotel Industry” study that shows U.S. hoteliers saw revenue growth in 2017 while keeping rising expenses low. Published by: Robert Mandelbaum/Hotel News Now Published date: May, 2018 Hoteliers in the U.S. enjoyed an eighth consecutive year of increasing profits in 2017 despite another slowdown in the
Published by: Sam McCaffery/BlooLoop Published Date: April, 2018 In an earnings call this week, Jim Reid-Anderson, CEO of Six Flags Entertainment, said that the company plans to accelerate its strategy to purchase water parks and theme parks close to properties it already owns. “There are dozens of parks within reasonable driving distance of our existing portfolio in
Development in the Poconos isn’t done yet! Township officials have announced plans to create a massive $350 million development project dubbed Pocono Springs Entertainment Village, which will include a 75,000 square foot aquarium, a movie theater, helium balloon rides and space for a slew of retail and restaurant spaces. The site is adjacent to the
U.S. News and World Report’s Top 30 Indoor Waterparks from around the world… It’s great to see so many wonderful properties we’ve worked with on the list! We have had the pleasure of working with a majority of the properties in North America in preparing waterpark feasibility studies, appraisals, economic impact studies, and other consulting
H&LA was pleased and proud to have taken part in the Epic Waters project in Grand Prairie, Texas, preparing the waterpark feasibility study for the project. Now open, Epic Waters is gathering much deserved support and attention from leaders in the industry. This insightful article showcases interviews with several key people who helped bring the
The latest from Hotel News Now research shows little correlation between hotel room night demand and ADR. Published by: M. Brian Riley/Hotel News Now Published date: March 2018 With a lens focused on identifying seasonal patterns in the key performance indicators, STR reviewed three years—2015 to 2017—of U.S. performance data. We found that on a national basis,
Miscellaneous revenue-generating sources have shown to be decreasing the size of their contributions to a hotel’s overall revenue since 2010. Published by: Robert Mandelbaum/Hotel News Now Published date: February 2018 In hotel industry jargon, other operated departments are frequently referred to as minor operated departments. Based on recent trends in other operated department revenues and
Marriott is cutting the industry standard 10% commission paid to third party booking channels to 7% in the U.S. and Canada. Check out the story at Meetings and Conventions News: http://www.meetings-conventions.com/News/Third-Party/Marriott-Cuts-Third-Party-planner-Commissions/?cid=eltrMtgNewsfirstname.lastname@example.org
Meeting and Conventions Magazine published a story about how some NYC hotels are now adding an “urban destination fee” to their nightly room rate. The fees cover an array of services from high-speed internet access to laundry services and city walking tours. According to the article, hotels are on target to rake a record $2.7
H&LA President, David Sangree weighed in with The Cleveland Plain Dealer on the occupancy drop in Cleveland hotels in 2017: Published by: Susan Glasser/The Plain Dealer Published date: January 2018 Hotel occupancy in downtown Cleveland dipped for the second straight year, a result of the hotel building boom leading up to the Republican National Convention.