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On 24th May 2018, you are going to watch the students of two most prominent universities in the UK and the world viz., Oxford and Cambridge battle it out on the Thames during The Cancer Research UK Men's Boat Race and also during the second event called The Cancer Research UK Women's Boat Race.

DRIVEN BY STRONGER-than-expected demand and moderate supply, CBRE has raised its forecast for hotel performance again this year, resulting in increased occupancy. CBRE revised its forecast for 2023 RevPAR to $97.89, up 6 percent year-over-year and an increase of $0.43 rise from the previous forecast. This positive revision is based on a 65-basis-point increase in expected occupancy compared to the previous forecast issued in February, CBRE said in a statement. Furthermore, the ADR is projected to grow by 3.7 percent in 2023, slightly lower than the previous forecast of 4.2 percent. According to CBRE Hotels Research, this is primarily due to slightly lower inflation expectations and a higher proportion of group travel and shoulder-period demand, which typically have lower rates. CBRE's baseline scenario forecast envisages an average GDP growth of 0.8 percent and average inflation of 4.6 percent in 2023. Given the strong correlation between GDP and RevPAR growth, changes in the economic outlook will directly impact the performance of the lodging industry, CBRE noted. "We are already starting to see signs that the easing of travel restrictions in Japan and China, combined with continued improvements in group and independent business demand, are bolstering demand heading into the heavy summer travel season," said Rachael Rothman, head of hotel Research & data analytics at CBRE.

ACCORDING TO THE March 2022 edition of CBRE's Hotel Horizons national forecast report, the total revenue for a typical U.S. hotel is not expected to return to pre-COVID 2019 nominal dollars until 2023. Accordingly, hotel owners and operators continue to seek ways to control expenses, and that can include property taxes. One potential reduction opportunity is property taxes, according to an article from Robert Mandelbaum, director of research information services for CBRE Hotels research, and Mark Whitney, managing director of CBRE's Property & Transaction Tax Services platform. Based on a sample of 3,400 hotels from CBRE's Trends in the Hotel Industry database, U.S. hotel property tax expenditures declined by 13 percent from 2020 to 2021. This decline put 2021 property taxes 9.9 percent below 2019 levels. Unfortunately, this compares unfavorably to the 41.3 percent decline in revenues and 57.4 percent falloff in profits during the same period. For this analysis, profits are defined as earnings before interest, taxes, depreciation, and amortization, or EBITDA. Relationship to Profits Compared with other forms of real estate, hotel financial performance is relatively volatile. Because of the lack of long-term leases, hotel revenues and profits will react almost instantaneously to changes in the economy. This was evident during 2020 when we observed a sudden 64.3 percent drop in revenues along with a 109.4 percent decline in EBITDA in reaction to the pandemic.

A STRONG PERFORMANCE by U.S. hotels during the first quarter of 2022, along with other factors, are leading CBRE Hotels Research to raise its forecast for the rest of the year. The Research firm now expects a full recovery in ADR in 2022 and in demand and RevPAR in 2023. First quarter RevPAR reached $72.20, up 61 percent from year earlier, despite a surge from the COVID-19 omicron variant, according to CBRE. RevPAR growth was driven by a 39 percent increase in ADR and a 16 percent increase in occupancy. ADR was 5 percent ahead of 2019's levels, marking the third consecutive quarter in which levels exceed the same period in 2019. These rising rates demonstrate that travelers aren't price-sensitive in many peak-demand markets.

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AS ARTIFICIAL INTELLIGENCE continues to permeate society on every level, there is a place for it in the hotel industry, AAHOA said. AI technology can improve operational efficiency and cut costs, the association said, but it must be developed and used ethically. AAHOA referenced two recent research studies, one conducted by the Conrad N. Hilton College of Global Hospitality Leadership at the University of Houston, and another by Morgan Stanley, to endorse the integration of artificial intelligence into hotels for enhanced guests' experience. The University of Houston's study explored AI's transformative impact on the industry and its acceptance among hotel guests. Meanwhile, Morgan Stanley's research report released on August 18, titled "AI for Hotels: Will the Hotel of the Future Fit in the Palm of Your Hand?" documented the benefits of hoteliers, online travel agencies and hotel brands adopting AI technology early.

THE BAIRD/STR HOTEL Stock Index jumped 16.4 percent in the first month of 2023, according to STR. A drop in recession fears and other factors gave investor confidence a boost, the research firms said. In January, the Baird/STR Index surpassed both the S&P 500, up 6.2 percent and the MSCI US REIT Index, increased 10.5 percent, STR said in a report. The index dropped 10 percent in December, and it was down 15 percent for 2022. According to STR, the Hotel Brand sub-index increased 16.2 percent from December to 10,342, while the Hotel REIT sub-index rose 17.1 percent to 1,216. "Hotel stocks rebounded sharply in January and were significant outperformers as the back-and-forth recessionary concerns once again subsided to start the year," said Michael Bellisario, senior hotel research analyst and director at Baird. "Industry-wide RevPAR trends finished the year on a strong note despite tougher calendar comparisons and weather-related travel disruptions in December. Several Hotel REITs provided fourth-quarter operational updates, and performance generally was in line with prior expectations. More broadly, investor sentiment has improved, which boosted stock prices across the board in January, but the macroeconomic indicators have remained mixed."

MAGNUSON HOTELS HAS added a new hotel to its Magnuson Independent Collection portfolio, the Studios & Suites 4 Less Charlotte, in Charlotte, North Carolina. It is the sixth hotel added to the Independent Collection by owner Ray Patel of Charlotte. The 126-room hotel is near Charlotte Douglas International Airport, The Billy Graham Library, the NASCAR Hall of Fame and the Levine Museum of the New South, according to Magnuson. The new hotel looks to draw a 52-week nonseasonal business base from the regional banking, finance, software, and biotech sectors. Charlotte is also home to the Research Triangle Park, a globally prominent Research center with over 170 companies and federal agencies in the U.S. "When Ray Patel called us in 2005, he wanted to build his own brand called Studios & Suites 4 Less, and that is exactly what Ray did," said Thomas Magnuson, CEO of Magnuson Hotels. As Patel's team manages the Studios & Suites 4 Less brand and operations, Magnuson Hotels provides the technology, distribution, and marketing for the brand. "We appreciate our partnership with Magnuson Hotels, which is now entering its 17th year of consecutive increases," said Patel of Charlotte. "It is a pleasure and privilege to continually add new properties in our home market of Charlotte, North Carolina," he added.

PEACHTREE HOTEL GROUP added seven hotels to its portfolio this week for $135 million. Three of the hotels also are part of Peachtree's third investment partnerships with San Mateo, California-based Verakin Capital led by partners Rupesh and Bimal Patel and Hiten Suraj. The new acquisitions include 829 rooms and are in five different states, according to Peachtree and its management division Peachtree Hospitality Management, which will operate all seven hotels. The new hotels are: The dual-brand Hilton Garden Inn Phoenix Tempe, University Research Park, 120 rooms, and Home2 Suites by Hilton Phoenix Tempe, University Research Park, 108 rooms, in Tempe, Arizona, which were built in 2017. Aloft Hillsboro-Beaverton in Hillsboro, Oregon, 137 rooms, built in 2017. Hilton Garden Inn Casper, 121 rooms in Casper, Wyoming, built in 2008. Home2 Suites by Hilton Eugene Downtown University Area, in Eugene, Oregon, 120 rooms, built in 2016. Home2 Suites by Hilton Pittsburgh/McCandless in Pittsburgh, Pennsylvania, 119 rooms, built in 2013. Hilton Garden Inn West Lafayette Wabash Landing in West Lafayette, Indiana, 104 rooms, built in 2003.

U.S. HOTEL REVPAR is expected to grow steadily in 2024, driven by improving group business, inbound international travel, and traditional transient business demand, according to CBRE. This follows a strong performance in 2023 that muted the new forecast in some areas. The research firm forecasted a 3 percent increase in RevPAR growth in 2024, with occupancy improving by 45 basis points and ADR increasing by 2.3 percent. It indicates ongoing recovery of the lodging industry, with RevPAR in 2024 expected to surpass 2019 levels by 13.2 percent, CBRE Hotels said in a statement. CBRE's baseline forecast expects 1.6 percent GDP growth and 2.5 percent average inflation in 2024. Given the strong correlation between GDP and RevPAR growth, the economy's strength will directly impact the lodging industry's performance, the statement said. "We expect RevPAR growth to be slower in the first quarter due to last year's strong performance, but to reach its peak in the third quarter driven by the influx of inbound international travelers during the busy summer season," said Rachael Rothman, CBRE's head of hotel research and data analytics. "Urban and airport locations should particularly benefit from group and inbound international travel, as well as the normalization of leisure travel."

STR FILED A motion to dismiss a lawsuit that claims it, along with several major hotel companies conspired to inflate luxury hotel rates. The research firm said in the motion that the seven individuals named as plaintiffs in the lawsuit failed to show a knowing conspiracy to fix prices through STR's "Forward STAR" program in violation of federal antitrust laws. The lawsuit, filed in February in federal court in Washington state, alleges that STR, owned by commercial real estate information researcher CoStar Group, and hotel companies including IHG Hotel & Resorts, Marriott International and Hyatt Hotels Corp., entered an exchange of "competitively-sensitive information about their prices, supply, and future plans" in violation of the antitrust provisions of the Sherman Act, according to the lawsuit. The plaintiffs seek to make it a class-action filing on behalf of every person who stayed at the defendants' hotels from February 2020 until the present for an unspecified amount. However, STR's motion claims it fails to provide evidence of any illegal actions and is mistakenly part of a current legal trend.

HOSPITALITY SOFTWARE PROVIDER Canary Technologies recently closed a $50 million Series C funding round to research AI guest technology in the hospitality sector, bringing its total fundraising to nearly $100 million. The company's software includes mobile check-in and checkout, tablet registration, upsells, guest messaging, Canary AI and digital tipping. The recent investment round was led by global software investor Insight Partners, who also led the company's Series B, with participation from existing investors F-Prime Capital, Thayer Ventures, Y-Combinator and Commerce Ventures, Canary said in a statement. California-based Canary is led by CEO Harman Singh Narula and President SJ Sawhney. "AI is transforming the way we live, work and travel," said Narula. "Canary is at the forefront of delivering enterprise-grade hospitality AI solutions that empower hoteliers to streamline operations, boost efficiency and elevate the guest experience, This funding milestone is a reflection of the team's hard work and the immense impact that Canary is making for hoteliers, including many of the world's largest enterprise hotel brands. We continue to see significant demand in the market for our products and are excited to extend our partnership with existing investors."

Many people want to relax their mind by spending holidays and weekends in popular destinations across the world. However, one should always make a research about them before planning a trip.

Many people want to relax their mind by spending holidays and weekends in popular destinations across the world. However, one should always make a research about them before planning a trip.

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Bharat Book Bureau Provides the Trending Market Research Report; on"Hotel And Other Travel Accommodation Market Global Report 2017". The Hotel And Other Travel Accommodation Market Global Report provides strategists, marketers and senior management with the critical information they need to assess the global hotel and other travel accommodation sector.

IN RECENT WEEKS, CBRE Hotels Research has revised its forecast for the hospitality industry upward in light of several factors, such as rising occupancy levels, improvement in domestic travel and some opening in international travel. Recent developments, however, including the rise of the Omicron variant of the virus that causes COVID-19, elevates the uncertainty level of those forecasts, but still the industry is expected to return to 2019 levels by the second half of 2023 rather than 2024. Hotel occupancy in the third quarter rose 35.1 percent over the previous year, according to CBRE's December 2021 edition of Hotel Horizons. ADR also saw gains, reaching 2019 nominal levels in the third quarter. "CBRE expects ADR will continue to exceed 2019 levels, followed by a demand recovery in early 2023," CBRE said in a statement. "Pent-up demand for leisure destinations, an increase in household personal savings and fewer constraints on availability compared with earlier in the pandemic contributed to the brisk pace of ADR recovery. The resumption of inbound international travel will help gateway markets regain occupancy in the coming year."

PEOPLE ARE SHOWING a desire to get back to travel, but within certain limits, according to a Reuters Events Travel webinar. The webinar featured information on the current state of the industry from IHG Hotels & Resorts, Visit California and digital consultancy Appnovation. Whether planning, booking or experiencing a vacation, today's travelers are more cautious than ever and are taking more time to research plans and are using digital tools for it, according to the webinar titled "Destination Experience: Driven by Data, Inspired by Travelers." As many as 41 percent of respondents to a survey from Appnovation cited a readiness to travel out of state or province, while only 19 percent were ready for international trips. Almost half of Americans, 49 percent, are likely to travel out of state and 24 percent are likely to travel internationally. "With data, brands are much better equipped to understand these shifts, and use their marketing tools more effectively. In short, you can't innovate properly until you innovate on your internal processes," said Anton Morrison, vice president of user experience and design, Appnovation.

THE REPRESENTATION OF Black and women members on hotel industry boards is on the rise, signaling progress in board diversity, according to recent research commissioned by AHLA Foundation and conducted by Penn State's School of Hospitality Management. The surge surpasses the 2022 averages for firms in the Russell 3000 Index, while indicating multiple gains for the industry. The 2022 data analysis involved 230 board members from 28 companies spanning the years 2016 to 2022, the AHLA Foundation said. Key findings from the report include: In 2022, women held 31.3 percent of independent board seats on hotel public company boards, a notable surgefrom 22.5 percent in 2021. This surpasses the 2022 Russell 3000 Index average of 28.4 percent for women representation.