Luxury-Level Hotel Supply Expanding In Meeting Marketplace

Published on : Thursday, June 16, 2016

334424d7-15f2-447c-9186-a11b327e5a49The continued growth in demand for face-to-face meetings, convention spaces and accommodations continues to be evident in today’s marketplace. Hotel occupancies are projected to reach record levels in 2016, and likely will remain at elevated levels before slowly receding as new supply eventually grows faster than demand. Luxury-level hotels and resorts are experiencing all-time highs in terms of occupancy, and demand for future meetings will continue to grow at a faster pace in the luxury sector than new supply. In a nutshell, inventory compression in the Meeting & Incentive (M&I) marketplace will likely to continue to build through 2019.

 

Even so, meeting, incentive and convention professionals will see additional exciting options as new inventory is starting to become available. This trend is reflected in the Membership of Associated Luxury Hotels International (ALHI), which has five hotels which just opened or will soon open.

 

“There are a number of market dynamics that continue to reinforce the importance of Meetings, Incentives and Conventions to Four- and Five-Star properties,” said ALHI President Jim Schultenover. “First, the opening of several exceptional new M&I-focused hotels and resorts. Second, several of our other ALHI Member hotels and resorts have recently expanded, or are expanding, their own meeting space and/or accommodations to meet the demand. And finally, many Members are increasing their group business because of the total value a Meeting, Incentive Program or Convention provides.”“We are thrilled to be working with these exciting new properties which complement our existing unique and authentic Member hotels and resorts,” said Schultenover.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 01 AIME 2018 BB
  • 02 WTM Latin America 2018
  • 04 AIME-2018 small
  • 05 itb-china 2018
  • 06 Central & Eastern Europe 2018
  • 06 TTF-2018
  • 08 mice-arabia 18
  • 09 JTTX 2018
  • 09 The hotel shows audiarabia 18
  • 10 hotelfair 2018
  • 10 miceforum 18
  • 11 Digital Travel 2018
  • 11 Hotelex-Shanghai 18
  • 12 mitt 18
  • 13 aitf 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com