2023 U.S. Hotel Forecasts; Industry M&A; Demand Momentum

	November 2022

PwC: 'Headwinds' Threaten 2023 U.S. Hotel Recovery Pace

By Angelique Platas

U.S. average daily hotel rates and revenue per available room in 2023 will continue to climb, but at a slower and more manageable pace, according to PwC's recently released U.S. Hospitality Directions report. However, the consulting giant still expects demand from individual business travelers and groups to rise in 2023. Keep Reading

STR Slightly Cuts 2023 U.S. Hotel Rate, Occupancy Forecast

Anticipating a "mild" recession going into 2023, STR and Tourism Economics now project U.S. hotel rates and occupancy next year will decrease slightly year over year, a bit below the companies' previous forecast. Keep Reading

Hyatt Agrees to Acquire Dream Hotels for $300M

Hyatt Hotels Corp. has agreed to acquire Dream Hotel Group and its lifestyle hotel brands for upwards of $300 million, the companies announced Tuesday. Keep Reading

Mastercard Agrees to Take Stake in Conferma

Mastercard is partnering with Sabre Corp. and Conferma Pay to build new capabilities for virtual cards, and Mastercard will take a minority stake in Conferma as part of the deal, Sabre announced. Keep Reading

Air India, Vistara Agree to Merge

Singapore Airlines and conglomerate Tata Sons have agreed to merge Indian carrier Vistara with Air India. Singapore Airlines plans to take a 25 percent stake in the combined entity. Keep Reading

[Large buyers] have an expectation that they ... can negotiate big discounts, but they're just not materializing because capacity is constrained and the world is different."

- Flight Centre's
John Morhous

Amex GBT Reports Transaction Momentum After 'Softer' Summer

American Express Global Business Travel reported a nearly steady recovery rate in transactions for the third quarter, although executives said the company is seeing momentum from a late-quarter pickup in corporate travel. Keep Reading

ATPCO Sets Course to Dynamic Air Offers

Q&A with ATPCO's Alex Zoghlin

When Alex Zoghlin took the reins of ATPCO as CEO in January 2021, he set a goal of simplifying processes at the company. Has he succeeded? BTN's Donna M. Airoldi recently spoke with Zoghlin about his tenure and ARC's new airline order posting solution. Keep Reading

Execs Weigh in on Travel Trends at Phocuswright Conference

Key issues for corporate travel frequently took center stage at the annual Phocuswright Conference, including challenges as travel rebounds and a hopeful prediction on New Distribution Capability adoption. Keep Reading

Survey: Industry Rebound Optimism Exceeds Corp. Travelers'

Business travelers and travel professionals alike indicated a bullish attitude toward business travel growth in 2023, according to the Expedia Group's Traveler Value Index. Keep Reading

ARC: October U.S. Airfares Creep Up Again

October domestic roundtrip airfares increased for the second straight month, according to Airlines Reporting Corp., up 3 percent from September's level to $578. Keep Reading

STR: October U.S. Hotel Rates Rise as Corp. Demand Up

Average U.S. hotel daily rates and revenue per available room were up again in October—month over month and over 2019—according to STR. Keep Reading

Flight Centre Reports Record Sept., Oct. Corp. Sales

Flight Centre Travel Group reported record monthly corporate travel sales in September and October, though managing director Graham Turner said the TMC still has a lot of room for growth in demand recovery. Keep Reading

U.S. Ext.-Stay Q3 Occupancy Dips as Rates Rise

Third-quarter demand and revenue per available room reached record highs for the U.S. extended-stay hotel sector, while occupancy fell for the first time since 2020, according to The Highland Group. Keep Reading