Clockwise from top left: Christina Jelski of Travel Weekly; Nicolas Graf of New York University's Jonathan Tisch Center of Hospitaltiy; and Rebecca Tobin of Travel Weekly.
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With this year's NYU International Hospitality Industry Investment
Conference just wrapped, it is a good time to look at the state of U.S.
hotel business. And what we heard might surprise you. According to
industry researchers STR, growth of RevPAR - that's "revenue per
available room" -- is now projected to be 2% this year, down from 4%.
And luxury-hotel RevPAR growth is now predicted to be down 0.2%, instead
of up 5%.
But is this downgrade troubling, or is it just a
correction from the last few years of postpandemic growth? At the
conference, hotel executives talked up the return of corporate travel,
the growth of group bookings and the need to grow their brands' room
counts. Host Rebecca Tobin delves into all that in this episode with Nicolas Graf, a
clinical professor at NYU's Jonathan Tisch Center of Hospitality, and
hotels editor Christina Jelski.
Episode sponsor
This episode is sponsored by the Globus Family of Brands, which includes Globus, Cosmos and Avalon Waterways
Stay
tuned at the end of the episode for a special sponsored interview with
Globus' chief sales officer Camille Olivere, led by Mary Pat Sullivan,
executive vice president of marketing and partnerships for Northstar
Travel Group.
Related links
Demand for U.S. hotels drops,
forecast adjusted
With
leisure leveling off, hotel CEOs welcome a surge in business travel and
groups