Steven Goodwin ACA

Interest in international travel over the next six months is at its highest level since 2020, with far more travelers than in previous years planning trips between November and April. The low-cost and less-crowded nature of off-peak vacations continues to be alluring to American travelers. Full Article:

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🏨 Hotel Industry Alert: The Occupancy Puzzle of 2024! The U.S. hotel industry is navigating a complex landscape in 2024, with occupancy rates hovering at 63.9% - slightly below the pre-pandemic 66.9% benchmark. Hybrid work models and increased hotel supply are reshaping the hospitality market, creating both challenges and opportunities for hotel owners and investors. With occupancy rates leveling off, the focus is now on boosting revenue through smarter strategies rather than just filling rooms. Ready to rethink the playbook for 2025? Quick Recap: - The U.S. hotel industry reached its occupancy peak in 2024, limiting further growth. - Revenue generation is pivoting towards rate increases and personalized services. - The industry faces a balancing act between demand and innovation. Key Insights: - Nationwide hotel occupancy averages 63.9%, compared to 66.9% in 2019 - 618 net new hotels added since 2019, increasing available room inventory - Corporate travel patterns shifting with shorter, more compressed business trips - New York City leads with 86.6% occupancy, while cities like Minneapolis struggle at 50% - Hotels adapting strategies through meeting spaces, leisure targeting, and cost management Who's ready to reimagine hospitality in this evolving landscape? Drop a 🔑 if you're tracking these industry shifts! #HotelIndustry #TravelTrends #HospitalityInnovation #BusinessTravel

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Most Top 25 Hotel Markets Show Improvement in Group Demand "In the first six months of the year, 21 of the top 25 largest hotel markets recorded higher group demand from a year ago. But despite almost uniform demand increases as of late, most markets are still struggling to record a full return of group demand to pre-pandemic levels." #DSHHotelAdvisors #HotelBusiness #Costar #MarketData https://lnkd.in/eyTz9YvV

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Hilton's 2025 Trends Report reveals that 2025 will be the "Year of the Travel Maximizer," with travelers blending relaxation with impactful adventures. Learn more about emerging travel trends like "Go Getaways" for thrill-seekers, "Hurkle-Durkling" for leisurely escapes, and the rise of "Frolleagues" and "MeMooners" embracing solo journeys. What travel and hospitality trends are you expecting to see in 2025? #HospitalityTrends #HospitalityInnovation #EmergingTravelTrends #HospitalityInsights #FutureOfTravel

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"Hotel stocks posted gains in June driven by the global hotel brands’ outperformance; for the fourth consecutive month, the hotel REITs declined and relatively underperformed their real estate benchmark,” said Michael Bellisario, senior hotel research analyst and director at Baird. #HotelIndustry #RealEstate #MarketTrends #Investment #Hospitality #HotelStocks #REITs #Finance #StockMarket #EconomicTrends

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The post-pandemic landscape continues to highlight the divide between the haves and have-nots. While stimulus packages briefly narrowed the gap during the K-shaped recovery, rising inflation in essential goods swiftly erased those gains.

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Hyatt is seeing the "exit of older hotels." Which means that the owners are not "renewing the flag." Most hotel franchises require mandatory upgrades after so many years, to keep a certain standard across the brand. These upgrades can cost millions of dollars on behalf of the franchisee. An increasing number of them seem to be saying no. Why do I care? Because...housing. Converting a hotel to multi-family can run as little as $30,000 per door. Costs per door for these buildings is frequently under $100,000. Which means that you can have housing on the ground in 6-12 months at sub $150k per door. Versus a minimum $250k per door for new built multi-family and $400-500k per door for office conversions. This is of course a very generalized numbers, but it helps for comparison's sake. Existing hotels represent one avenue by which I believe, we can start to address the housing crises. While the room sizes are small (300-500sqf typically), they generally have amenity spaces and laundries. Further, the MEP (Mechanical, Electrical, and Plumbing) are located in roughly the right area. Unlike with office conversions, where centralized plumbing stacks have to be drastically modified to accommodate multi-family. They also work well for student housing, elderly housing, and transitional housing as many have fully functional commercial kitchens that could provide meals, and most have elevators. Rooms can be combined to provide for family housing as well. I can't take credit for this idea; it was initially introduced to me by another member of the Affordable Housing Counsel at CREW. The more I look at it, the more it makes sense. If we are going to address this housing crises it will take a multi-pronged approach. This is one prong that deserves a little more attention than it's getting as we discuss housing policy for the upcoming administration, whoever they may be.

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Recently I had the privilege of presenting to the American Hotel & Lodging Association (AHLA) General Managers (GM) Roundtable about Mergers & Acquisitions (M&A) in the industry.   The GM Roundtable is comprised of leading hotel General Managers across the U.S. and provides a forum to discuss current issues including the impact of federal and state legislation and regulations affecting those at the frontline of the hotel industry. M&A, while often used interchangeably, have distinct meanings. Mergers involve the consensual joining of two entities, whereas acquisitions occur when one company purchases another and transfers ownership. Opportunities presented by M&A are many, including geographic expansion, entry into new markets, enhanced competitive edge through diversification, operational synergies that improve financial performance, business model transformation, elimination of competition, and access to cutting-edge technology and new talent.   However, these opportunities come with challenges including potential job losses, regulatory and antitrust hurdles, financial uncertainties, potential culture and management clashes, and while the goal is value creation there is a risk of erosion and in some cases destruction.   The lodging industry requires significant capital investment in fixed assets and human capital.   Brand awareness is highly important in the lodging industry as trade identities ideally represent perceptions of the qualities that distinguish services and products amongst competitors.   Growth patterns of the travel and leisure time industries are correlated with the evolution of hotel companies.  -----Increasing international travel motivates domestic and foreign hotel brand companies to launch cross-border mergers and acquisitions.  ----------i.e. AccorHotels purchase of 21c Museum Hotels and Marriott International takeover of AC Hoteles C. A.  -----Hotel brand companies typically operate on an asset-light and fee-oriented strategy.   Over the years many M&A deals have occurred in the lodging sector including property ownership companies as well as management and brand platforms.   A link to my presentation appears below.   #hotelindustry #hospitalitytrends #mergersandacquisitions

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Institutional investors are expected to turn their attention back to the leisure hospitality segment in 2025, according to a panel of experts speaking at the Resort and Residential Hospitality Forum. KSL Capital Partners

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Green Key Global’s Managing Director, Anick Levesque contributed to Green Lodging News' recent article, “What Hoteliers Need to Know About Green Key Global" Read this article to hear what she has to say : https://ow.ly/2q8h50TUFZn #GreenKeyGlobal #HotelManagement #SustainableHospitality #GreenLodgingNews #SustainabilityCertifications #TheFutureIsSustainable

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Leading with Luxury Indeed, 2024 will go down as a year when hardly any portfolios of note changed hands—unless you count a handful of deals where a pair of assets were sold. Probably the biggest of these was Host Hotels & Resorts’ $530 million spend on the 215-key 1 Hotel Nashville and 506-room Embassy Suites by Hilton Nashville Downtown in an all-cash deal with Starwood Capital, Crescent Real Estate and High Street Real Estate Partners. Full Article:

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As seen in the Q2 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the second quarter, there are 6,095 projects with 713,151 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and an 8% YOY increase in rooms compared to Q2 2023 totals. https://lnkd.in/gFQjzT_V

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Sharing our most recent white paper on how hotel owners are rethinking their approach to asset management. Insights from leading owners KSL Capital Partners, BDT & MSD Partners, Trinity Investments, among others. Thanks Irina Zavina-Tare!

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Very interesting article about the Florida market, hotel growth and market mix. It’s worth the read!

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Savannah, Georgia is one of the strongest Airbnb markets in the US. It received a near perfect 99/100 AIRDNA Market Score. Even with 3235 live Airbnb listings on the market, multiple niche opportunities exist as shown in the video. As a micro example, 70% of Airbnb hosts don’t allow 1 night stays in Savannah. Hence, if you just allowed 1 night stays, you’d be competing against only 30% of Airbnb hosts. What are your thoughts on the Savannah, Georgia Airbnb market? #savannah #georgia #georgiastate #savannahlife #savannahrealestate #vrbo #vrbohost #Airbnb #airbnbbusiness #airbnbsuperhost #savannahrealtor #realestateagent #georgiarental 

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