Hospitality & Tourism Industry Outlook

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Presentation transcript:

Hospitality & Tourism Industry Outlook John A. Williams, Ph.D. Dean The College of Business Administration Director The Hospitality Research Center

Record Spending for Tourism $7.05 billion – a 3.5% increase over visitor spending in 2014 62.9% are repeat visitors Visitors with household income of $200,000 or more are now 10.4% of visitors

Record Spending for Tourism 24.2% of visitors have a household income of $100,000-$149,000 The percentage of visitors with an income of under $25,000 continues to decrease

Average Booking Window (In Months) Source: NOCVB Definite Bookings

Booking Window (In Months) Source: NOCVB Definite Bookings

Hotel Room Rate (In dollars/Annual Average) Source: Smith Travel Research

Hotel Occupancy Rate (Percent/Annual Average) Source: Smith Travel Research

Hotel Room Supply (Annual Average) Source: Smith Travel Research

Casino Revenues ($Millions/Monthly Average) Source: Louisiana State Police

Change in Jobs New Orleans Metro vs. US (2015 over 2014)

Leisure and Hospitality Employment (Jobs in Thousands/Annual Average) Source: US Bureau of Labor Statistics

Employment (Jobs in Thousands/Annual Average) Source: US Bureau of Labor Statistics

Visitation and Spending *Total spending is not adjusted for inflation. Gambling was added to the analysis in 2012. Source: New Orleans Visitor Profile 2014, HRC

Hotels In Constr. Final Planning Planning Luxury 1 Upper Upscale 2 6 Upper Midscale 5 8 Midscale 4 Economy Independent TOTAL 7 14 Source: Smith Travel Research

Rooms In Constr. Final Planning Planning Luxury 350 Upper Upscale 692 Upper Midscale 196 882 168 Midscale 522 737 233 Economy Independent 701 TOTAL 718 1,619 2,144 Source: Smith Travel Research

Thank you