Hotels Food
CBRE Forecasts Enhanced RevPAR Growth in 2023 Despite Economic Headwinds
Written by: Rachael Rothman and Matt Mowell Despite projections of persistent inflation and a moderate economic recession, CBRE’s November 2022 Hotel Horizons® forecast calls for a 5.8 percent increase in rooms revenue per available room (RevPAR) in 2023. This is up from CBRE’s previous forecast of a 5.6 percent increase in RevPAR for 2023. Propelling CBRE’s increased outlook for RevPAR is an expected 4.2 percent rise in average daily rate (ADR), driven in part by the continuation of above long-run average inflation. For 2023, CBRE is forecasting the Consumer Price Index in the US to increase by 3.5 percent YoY.…
Hotels Food
How to find an eco-friendly hotel
A hotel bed. Illustrated | Getty Images You reduce, reuse, and recycle at home. And when it’s time to stay in a hotel, your desire to be as good to the planet as possible doesn’t go away. But finding an “eco-friendly” hotel can be a challenge. There’s a lot more to reducing a property’s environmental footprint than asking guests to reuse their towels. Hotels need to find ways to conserve energy, reduce water use and waste, source products from local vendors, and eliminate items like single-use plastic. It’s important to be on the lookout for buzzwords and claims that can’t…