PORTSMOUTH, N.H.—Lodging Econometrics (LE) reports that in 2016, 842 hotels/98,990 rooms opened in the United States, the most since 2009 and up from the 736 hotels/82,094 rooms reported in 2015. According to industry wide operating metrics, supply growth was a reported 1.6 percent in 2016, slightly below demand growth of 1.7 percent, meaning that demand has exceeded supply growth for the seventh consecutive year.
LE forecasts that new hotel openings will jump to 1,111 hotels/120,372 rooms in 2017. That should equate to a 2 percent supply increase in 2017. Unless there is some reversal in declining demand trends, aggregate supply growth in 2017 will exceed demand for the 1st time since 2010.
Seventy-eight million Americans, or 59 percent of the workforce, are paid hourly. A new study by LinkedIn and Snagajob shows who these hourly workers are and what kind of jobs they work. Approximately 71 percent of hourly workers are under 30 years old. For more information, click here.
Hilton CEO Christopher Nassetta says the Trump administration’s economic policies will likely outweigh the aftermath of the attempted travel restrictions. For more of his thought’s on the administration’s travel impact, click here.
In 2016, many of the world’s largest hotel companies continued to expand. According to STR, Marriott International, Hilton Worldwide, and InterContinental Hotels Group have the three largest pipelines as of December 2016. The world’s largest brands are Holiday Inn Express, Holiday Inn, and Hampton. To read more, click here.
After studying data from 70 million hotel reviews, Revinate has determined that nearly four out of five of all hotel reviews are from guests who had a satisfactory or better experience. Roughly 8 percent of all reviews came within the one- or two-star range. For more information, click here.
U.S. private accommodations revenue has grown to nearly a quarter of all U.S. hotel revenue recently due to the rise of homesharing services. Phocuswright expects the sector’s revenue to reach $36.6 billion this year. To read more, click here.