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Hotel lobby overseen by hotelAVE, a hospitality consulting firm providing hospitality industry insights and hotel advisory services
Archive
Category: Industry Insights

Condo Hotel Developments and Hotels With Residential Rental Programs Are Fraught With Complexity

Drawing from over 25 years of experience in commercial real estate, Loren Balsam, hotelAVE’s Chief Investment Officer, shares his insights on navigating the complex world of hotel development with a residential touch. This article tackles the hurdles of traditional hotel development and the growing preference for condo hotels. Success in this arena requires careful negotiation..

Third Quarter Hospitality Earnings Summary

Our Third Quarter 2023 Hospitality Earnings Summary is now available! We’re thrilled to share positive insights into the hotel industry’s recovery. A glimpse: Q3 2023 showcases impressive mid-teens RevPAR growth, driven by surging occupancy rates and increased ADR. While leisure demand sees a gradual uptick, business demand has rebounded to 84-90% of pre-pandemic levels, with..

The Impact of QR Code Integration in Hotels

QR codes are revolutionizing the hospitality industry, from the booking confirmation to post-checkout messaging. Here are just a few ways QR codes are being used to enhance the guest experience: Arrival: QR codes can be used to provide guests with information about their room, property maps, Wi-Fi passcodes, and more. Guests can also use QR codes..

Asset Manager hotelAVE Bullish on Corporate, Group Travel Expectations

In a recent call hosted by Truist, hotelAVE an shared optimistic outlook for 2024 for corporate and group travel. Despite ongoing workplace dynamics, corporate and group travel are expected to experience significant RevPAR growth, with a projected increase of 5.8% year-over-year and a 12% improvement relative to the 2019 baseline. Other key takeaways: Challenges persist..

Are U.S. Hotels Ready for ‘Revenge Travel’ from China?

China is set to relax international travel restrictions following three years of strict quarantine policies. In 2019, China stood as the fifth-largest contributor of international travelers to the United States, with nearly 3 million visitors, as outlined in the International Trade Association’s “China—Country Commercial Guide.” With Chinese travelers gearing up for a comeback, hotels should..

How Eroding Customer Satisfaction Impacts Profit

As hotel demand returns to pre-COVID levels (or exceeds it in the case of destination resorts), hotels are facing new challenges particularly as it relates to the guest experience. Staffing shortages, supply chain challenges and reduced or modified levels of service show their scars throughout the industry. What has changed? Customers are voicing discontent. If..