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Originally seen HERE. Mumford Company, a full-service hospitality brokerage advisory firm since 1978, finished 2023 with multiple closings and anticipates 2024 to be a banner year based on current deal flow. “Based on our solid deal pipeline of anticipated closings in the first quarter and half of 2024 along with the Fed’s announcement of pumping the brakes with no rate increases in the near Continue Reading about Mumford Company Reports Strong 2023

Originally seen HERE. A look at conversions in the hotel industry came into sharper focus at Hotel Management’s recent executive roundtable sponsored by Choice Hotels International. The event, held at the JW Marriott Desert Ridge Resort & Spa during The Lodging Conference in Phoenix in September, brought together a mix of hospitality movers and shakers who examined the variety of influences Continue Reading about HM Executive Roundtable: Conversions in the hotel industry – with Mumford Company’s Ed James

Originally seen HERE.Hoteliers have plenty to look forward to in 2024. Between accessibility and sustainability, hotels are adapting to a changing landscape in meetings and events—and the larger societal landscape. And hotels are adapting to changing workforce conditions as well. With staffing levels that have never recovered to their 2019 numbers, the focus has shifted to maximizing effectiveness Continue Reading about 2024 Is Trending in the Right Direction for Hoteliers

Originally seen HERE. The Indian hospitality and tourism sector is expected to see accelerated hiring going forward after witnessing a robust growth this year with domestic travels leading the way, according to industry players. With a report by the Hotel Association of India (HAI) projecting the hotel industry's direct contribution to India's GDP to reach USD 1 trillion by 2047, experts Continue Reading about Hospitality industry expects hiring to speed up after robust growth in 2023

Originally seen HERE. Industry leaders explore the intricate balancing act of maintaining brand consistency while allowing room for the individuality and uniqueness that hotels need to flourish in an ever-evolving market. Owner Douglas Artusio, chairman and CEO of Dellisart, said it’s a balancing act between brand consistency and honoring a hotel’s uniqueness. “Brand consistency is Continue Reading about ROI: How to balance the dynamics of hotel brand standards

Originally seen HERE. As the calendar pages turn, we bid farewell to 2023, a year that saw our steady stride back to normalcy within the hospitality sector. But as we look to 2024, we're not just walking; we're poised to leap into an era marked by the potential for unparalleled growth. The once turbulent waters of the hospitality industry have calmed, and now it's time for hotel brands to chart Continue Reading about 2024 Hotel Group, Events, and Meetings Trends & Stats That Every Hotelier Should Know

Originally seen HERE. The business outlook for hotels remains strong for the remainder of 2023 thanks to an uptick in business travel and a healthy preference among business and leisure travelers to stay in hotels, according to a survey commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult. The survey found that 68% of Americans Continue Reading about AHLA: Hotels poised for strong holiday season

Originally seen HERE. AAA data suggests that during the holidays, travelers are generally going to pay less for domestic trips compared to last year and more for international vacations.  AAA projects 55.4 million U.S. travelers will head 50 miles or more from home over the Thanksgiving holiday travel, the five-day period from Wednesday, November 22 to Sunday, November 26. This year’s Continue Reading about Thanksgiving travel up; domestic hotel prices down

Originally seen HERE. Mumford Company, a full-service hospitality brokerage advisory firm since 1978, has completed a number of deals this year to close a robust third quarter. In the last few weeks, the firms closed several deals representing a broad range of property types throughout the U.S. “Despite high-interest rates, inflation, elevated insurance premiums and widespread economic Continue Reading about Mumford Company Reports Strong Q3

Originally seen HERE. How can two people look at the same economy but interpret it so differently? To Peter Linneman, economist and former professor at the Wharton School of the University of Pennsylvania, the phenomenon is like two people standing before the same painting, except one of them is viewing the complete canvas from a distance while the other is up close and squinting to make Continue Reading about Peter Linneman On How To Make Sense Of Today’s Economy

Originally seen HERE. As expected, U.S. hotel performance from Sept. 24-30 was lower than the previous week, but year-over-year comparisons were improved, according to CoStar’s latest data. For the week (percentage change from comparable week in 2022): Occupancy was up year over year on the positive side of the Rosh Hashanah calendar shift. At the same time, the Yom Kippur observance Continue Reading about U.S. weekly hotel results: Sept 24-30

Originally seen HERE. Hurdles include bid-offer spreads, the interest rate plateau and relative reality checks. Triggers may come in the form of debt deadlines, ROI reviews and icebreaker action. Dealmaking in the hotel and hospitality sector is in a funk. No one can predict with any certainty when activity will return to normal or, indeed, know what the new normal will look like. That said, Continue Reading about M&A: Three hurdles and triggers

Originally seen HERE.Travel continues to move in a positive trend, according to the Mews Data Snap, a real-time measure of hospitality’s performance during the summer of 2023 (June, July, and August). The report compares this year’s data to summer 2022 to pinpoint how the hospitality sector is changing. Based on data from Mews partners worldwide, the Mews Data Snap consists of hospitality’s Continue Reading about Summer ADR and RevPAR saw positive movement

Tripadvisor released the next in its Seasonal Travel Index series, revealing data and trends about what to expect for travel this fall. Although the popular summer vacation season is coming to a close, travel doesn’t appear to be fading with it: 74 percent of U.S. travelers surveyed report they will travel this fall, well above the 61 percent planning to travel at the same time last year. Continue Reading about Tripadvisor: U.S. Travel to Remain Strong This Fall

Originally seen HERE. Despite rocky economic conditions and pressures within organizations to cut down on travel costs, business travel is making an unexpected and robust comeback. According to Capterra’s 2023 Travel Survey, 46% of business travelers report going on more trips than before the pandemic—on average, they travel six times a year, with trips lasting about three days. Increased Continue Reading about Survey: Business travel jumps 46% compared to pre-pandemic