Recently, we sat down with STR, premiere hotel market data and benchmarking company, to talk about what’s happening in the current hotel market, in hopes of providing planners with a more complete picture to navigate their sourcing. STR confirmed the U.S. hotel industry has come off a record breaking 2015 in all performance categories. Their research also indicates the next 18 months will continue with strong seller market conditions, with the increases in hotel revenue coming mostly from higher rates.
This analysis and forecasting doesn’t necessarily mean that planners will find it impossible to find the space they need at a rate they can afford. With the right information, the right people to help, and some pointers provided by this guide, we hope planners will be armed to navigate the sometimes tricky seller’s market with more confidence.