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2013 STR Data

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  • 1. 1 Hotel InduSTRy Overview Hoosier Hospitality Conference Lauren Faulkner Business Development Executive
  • 2. 2 Todays Agenda: March 12, 2014 Total U.S. Review Top Markets Review Indiana Performance Overview Pipeline Forecast
  • 3. 3 www.hotelnewsnow.com Click on Data Presentations
  • 4. 4 Total U.S. Review
  • 5. 5 January 2014 (12 MMA): Strongest Demand Ever % Change Room Supply* 1.8 bn 0.7% Room Demand* 1.1 bn 2.2% Occupancy 62.3% 1.4% A.D.R.* $110 3.7% RevPAR* $69 5.2% Room Revenue* $123 bn 6.0% January 12 MMA 2014, Total US Results * All Time High
  • 6. 6 Quarterly RevPAR % Change: ADR Drives Growth 8.8 8.1 8.0 7.97.9 7.9 5.1 6.56.4 4.9 5.5 5.1 Q1 Q2 Q3 Q4 2011 2012 2013 * Total US, RevPAR % Change, by Quarter, Q1 2011 Q4 2013
  • 7. 7 Demand & Supply Move Back Towards Long Run Averages -8 -4 0 4 8 1990 2000 2010 Supply Demand -6.9% -0.9% - 4.7% Total U.S., Supply & Demand % Change, 12 MMA 1/1990 1/2014 8.0% 2.2%
  • 8. 8 ADR Growth Anemic This Time Around -10 -5 0 5 1990 2000 2010 Demand % Change ADR % Change -4.5% 7.5% 6.8% -8.7% 3.7% Total U.S., ADR & Demand % Change, 12 MMA 1/1990 1/2014
  • 9. 9 OCC Will Probably Continue To Slow. Steady ADR Growth. -10 -5 0 5 1990 2000 2010 OCC % Change ADR % Change -6.7% 7.5% 6.8% -9.7% 6.2% Total U.S., ADR & OCC % Change, 12 MMA 1/1990 1/2014 4.2%
  • 10. 10 Positive RevPAR Growth For The Foreseeable Future -20 -15 -10 -5 0 5 10 1990 2000 2010 -16.8% -2.6% -10.1% 9% 8.6% Total U.S., RevPAR % Change, 12 MMA 1/1990 1/2014 65 Months 41 Mo.112 Months
  • 11. 11 Chain Scale Review
  • 12. 12 Scales: Upscale Supply Growth Now Noticeable 0.7 2.1 4.0 -0.7 1.7 0.60.7 2.7 4.4 1.4 5.7 4.6 Luxury Upper Upscale Upscale Upper Midscale Midscale Economy Supply Demand *Supply / Demand % Change, by Scale, January 2014
  • 13. 13 Scales: ADR Growth Strong For Luxury & Economy Hotels 0.0 0.6 0.4 2.1 4.0 4.0 5.6 3.1 2.8 2.3 2.5 3.3 Luxury Upper Upscale Upscale Upper Midscale Midscale Economy Occupancy ADR *OCC / ADR % Change, by Scale, January 2014
  • 14. 14 Scales: RevPAR Catches Up To Prior Record Highs $213 $113 $84 $62 $44 $31 $216 $116 $87 $64 $43 $30 Luxury Upper Upscale Upscale Upper Midscale Midscale Economy 2007 2013 *RevPAR $, by Scale, 2007 & 2013
  • 15. 15 Segmentation
  • 16. 16 3% 4% 5% 6% Jan 12 Jul 12 Jan 13 Jul 13 Demand ADR *Transient Demand and ADR % Change, 12 MMA, 1/2012 1/2014 Transient Growth Rates Healthy
  • 17. 17 -2% -1% 0% 1% 2% 3% 4% Jan 12 Jul 12 Jan 13 Jul 13 Demand ADR *Group Demand and ADR % Change, 12 MMA, 1/2012 1/2014 Is No Group Demand Growth The New Normal?
  • 18. 18 Transient Occupancy Share Increases 43% 57% 2005 Group Transient 36% 64% 2013 Group Transient *Transient and Group Occupancy as Share of Total OCC, 2005 and 2013
  • 19. 19 Transient ADR Premium Not As Strong As In Last Upturn $10 $15 $20 $25 1 year 2 years 3 years Starting 2005 Starting 2011 *Transient ADR Premium over Group ADR, 12 MMA, 1/05-12/07 & 1/11-1/14
  • 20. 20 Markets
  • 21. 21 January 2014 RevPAR: Best / Worst Performing Markets Market RevPAR % Change Market RevPAR % Change Florida Keys 23.7 Omaha, NE -5.3 San Francisco/San Mateo, CA 19.3 Central New Jersey -5.4 Philadelphia, PA-NJ 17.9 North Dakota -5.8 Denver, CO 16.5 Mississippi -6.0 Myrtle Beach, SC 16 North Carolina East -8.1 Wyoming 15.9 Pennsylvania Area -8.6 West Palm Beach Boca Raton, FL 15.8 California North Central -9 California Central Coast 15.7 Washington, DC-MD-VA -23 Los Angeles-Long Beach, CA 15.2 Long Island -29.4 San Jose-Santa Cruz, CA 15.1 New Jersey Shore -32.6
  • 22. 22 January 2014 ADR: Best / Worst Performing Markets Market ADR % Change Market ADR % Change Florida Keys 13.0 Chicago, IL -1.7 San Francisco/San Mateo, CA 11.9 Chattanooga, TN-GA -1.8 San Jose-Santa Cruz, CA 11.3 Kansas City, MO-KS -1.8 West Palm Beach-Boca Raton, FL 10.7 Jackson, MS -1.9 Los Angeles-Long Beach, CA 9.7 North Dakota -2.3 Oakland, CA 9.3 Baltimore, MD -3.3 Oahu Island, HI 8.6 New Jersey Shore -4.7 Maui Island, HI 8.6 Long Island -5.6 Bergen-Passaic, NJ 7.7 California North Central -5.9 Greenville-Spartanburg, SC 7.5 Washington, DC-MD-VA -17.6
  • 23. 23 State of Indiana
  • 24. 24 Hotels 965 Rooms 84,366 STR Sample 76% Occupancy 58.3% 1.8% ADR $88 0.7% RevPAR $51.12 2.6% Room Revenue $1.2mm 3.4% State of Indiana Key Performance Indicators 12 Months Ending January 2014, Indiana Results
  • 25. 25 3.4 -1.3 -4.5 2.1 -2.5 2.9 -6.4 -9.0 -5.0 1.1 5.9 4.7 -1.2 3.5 1.1 4.9 3.7 3 6.8 0.9 4.3 3.4 5 8.5 0 1.8 1.8 0.6 2.4 Supply Demand Occupancy ADR RevPAR 2008 2009 2010 2011 2012 2013 State of Indiana- Key Performance Indicators % Change Full Year 2008 2013 Moderate Growth Among All KPIs
  • 26. 26 -16 -8 0 8 16 2006 2007 2008 2009 2010 2011 2012 2013 2014 Supply % Chg Demand % Chg OCC % Chg ADR % Chg Recovery? Indiana: Supply, Demand, OCC, & ADR % Change Twelve Month Moving Average 2006 through January 2014
  • 27. 27 $50 $60 $70 $80 $90 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Indiana: Actual ADR ($) Twelve Month Moving January 2001 thru January 2014 ADR Has Surpassed 2008 Peaks $87 Sept. 08 $82.00
  • 28. 28 1.6 -1.5 43.9 0.1 2.6 Indiana North Indiana South Indianapolis Occupancy ADR RevPAR 1.9 1.9 -1.4 Indiana Markets - Occ / ADR / RevPAR % Change Twelve Month Moving Average January 2014 Growth in Most Indiana Markets
  • 29. 29 55.2 54.9 61.8 $81.85 $81.00 $90.32 $45.19 $44.46 $55.83 Indiana North Indiana South Indianapolis Occupancy ADR RevPAR Indiana Markets - Occ / ADR / RevPAR Twelve Month Moving Average January 2014 Strongest Performance in Indianapolis
  • 30. 30 63.8 61.8 55.2 55.0 53.8 49.7 Gary MSA Indianapolis, IN Market Indiana North Market Evansville-Henderson MSA Indiana South Market Fort Wayne MSA -3.5% Indiana Markets & Sub-Markets: Occupancy & % Change Twelve Month Moving Average January 2014 4% 1.6% -0.2% -1.9% 0.7% Gary Highest OCC % but Indianapolis Strongest OCC Growth
  • 31. 31 $90.32 $81.85 $80.21 $78.59 $77.84 $72.67 Indianapolis, IN Market Indiana North Market Gary MSA Evansville-Henderson MSA Indiana South Market Fort Wayne MSA Indiana Markets & Sub-Markets: Actual ADR & % Change Twelve Month Moving Average Ending January 2014 -1.4% 2.3% 1.5% 4% 4.4% 1.9% Strongest Rate Growth in Indiana South & Evansville
  • 32. 32 Indiana Pipeline
  • 33. 33 Indiana Customer Segmentation
  • 34. 34 Indiana: Monthly Transient Room Demand (sold) January 2007 Through December 2013 400 500 600 700 800 900 1,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2007 2011 2012 2013 Dec. 2013. 672,954 rooms sold Thousands Transient Rooms Sold in August 2013 Out Pacing Prior Years
  • 35. 35 Indiana: Monthly Transient ADR January 2007 Through December 2013 $70 $80 $90 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2007 2011 2012 2013 Dec.2012 $77.60 Transient ADR Surpasses 2007 Peaks (Mostly)
  • 36.