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Well past the second anniversary of the pandemic, business travel is showing its first significant signs of recovery. As that recovery gains momentum, a new landscape has formed with the presence of both traditional and new forms of business travel. Amid this new landscape, however, there remains mixed consumer sentiment toward business travel as well as a large gap between current volume and pre-pandemic comparables. STR’s consumer research from May 2022 produced telling insights into this always popular topic.

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January 27, 2023 / Travel

Almost half of global hotel markets recovered RevPAR with challenging 2023 ahead

From STR
STR’s global bubble chart update for 2022 shows resilient performance and plenty of momentum to face a challenging 2023 ahead. Almost half of the STR-defined markets around the world fully recovered revenue per available room (RevPAR) to 2019 levels. Among the 64 countries with room supply of more than 50,000 rooms, Jamaica, Israel, Cyprus, Switzerland, and Singapore were the top five performers on an absolute RevPAR basis in 2022. In most regions, performance was driven more by hotel prices while occupancy lagged pre-pandemic levels. Israel led all countries with an average daily rate (ADR) of more than US$300.
January 27, 2023 / Business

Washington, D.C. Population Changes & Trends

From Placer
With its high concentration of government institutions, universities, and thriving art scene, Washington, D.C. has long attracted out-of-towners willing to relocate to take advantage of the city’s unique professional, academic, and cultural opportunities. And while the population influx slowed over COVID, domestic migration trends appear to have fully bounced back, with both D.C. and its surrounding counties looking stronger than ever. We took a closer look at migration patterns and demographic trends over the past three years to explore who is moving in and who is moving out of the capital city and its surrounding areas.
January 27, 2023 / Real Estate

Loan Performance Insights – January 2023

From CoreLogic
The CoreLogic Loan Performance Insights report features an interactive view of our mortgage performance analysis through November 2022. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To more comprehensively monitor mortgage performance, CoreLogic examines all stages of delinquency as well as transition rates that indicate the percent of mortgages moving from one stage of delinquency to the next.
January 27, 2023

U.S. Home Seller Profits Top 50 Percent In 2022 Despite Market Slowdown

From Attom Data Solutions
ATTOM, a leading curator of real estate data nationwide for land and property data, today released its Year-End 2022 U.S. Home Sales Report, which shows that home sellers nationwide realized a profit of $112,000 on the typical sale in 2022, up 21 percent from $92,500 in 2021 and up 78 percent from $63,000 two years ago. Despite a market slowdown in the second half of last year, profits rose from 2021 to 2022 in 98 percent of housing markets with enough data to analyze.
January 26, 2023 / Travel

New York City’s comeback and luxury destinations highlighted U.S. hotel performance recovery in 2022

From STR
Top-line performance recovery was aplenty around the U.S. in 2022 as record-breaking levels of demand were combined with strong pricing power in an inflationary setting. Among the recovery highlights, New York City made a phenomenal comeback to grab the nation’s top spot in revenue per available room (RevPAR), while smaller hotel destinations with a primary focus on high-end travelers also found significant levels of success for the year.
January 26, 2023 / Business

A Location Intelligence Perspective on Macy’s Rightsizing

From Placer
With the announcement of Macy shuttering some additional stores in 2023, we dove into the location intelligence data to understand the rationale behind the brand’s store fleet optimization strategy. Macy’s first announced its Polaris transformation strategy in February 2020 – a month before COVID-19 upended the brick-and-mortar retail landscape. The three-year plan involves closing 125 stores – mostly in malls or in underperforming locations – along with opening smaller, stand-alone venues, revamping the brand’s loyalty program, and ramping up investment in private labels.
January 26, 2023 / Business

Leveraging Data As Collateral Starts With Knowing Its True Value

From Nomad Data
It isn’t just the December chill rolling in. The frosty winds of recession are blowing steadily and prompting many companies to brace against a global financial downturn. While many in the tech sector are opting to cut costs through staff cuts and hiring freezes, companies without such a payroll cushion are seeking ways to squeeze value from every asset they have.
January 25, 2023 / Business

The Macro Effects of Micromanaging

From Revelio Labs
For most junior employees, the culture in which they work is defined by their managers. We previously covered how Toxic Corporate Culture was a main driver of The Great Resignation and how Gen Z is redefining work culture as we know it today. Today, we look at whether excess management has a negative effect on company culture. And if so, what is the business impact of being a top-heavy company?
January 25, 2023 / Business

Amazon-Powered Shopping: The Future of Brick-and-Mortar Grocery?

From Placer
For over a century, grocery shopping has been an essential part of our daily lives. And because inflation has led many Americans to opt for more meals at home, supermarkets have become an even bigger part of our routines. But that doesn’t mean that grocery shopping has to be a dull affair. Thankfully, many exciting experiences can be found at grocery stores across the country, and perhaps the most exciting development is the infusion of technology into how we shop for food.
January 25, 2023 / Business

MediaRadar’s Recession Ready Weekly Advertising Overview: Hobbies & Travel Take Off

From MediaRadar
This week MediaRadar reviewed ad buys from the week of January 2, 2023, and compared them to ads that ran the week of December 26, 2022. While we highlighted four categories in this article, you can see the shifts in ad spend among all categories here. We look at Quarter-Over-Quarter (QoQ), Month-Over-Month (MoM) and Week-Over-Week (WoW). Here are some key weekly takeaways from advertising shifts that took place. Travel advertising increased over 15% WoW. This represents over a $75mm investment during the first week of 2023.
January 25, 2023 / Business

Total Construction Starts Increase in December

From Dodge Analytics
Total construction starts jumped 27% in December to a seasonally adjusted annual rate of $1.185 trillion, according to Dodge Construction Network. During the month, nonresidential building starts increased 51%, nonbuilding starts increased 30%, and residential starts rose less than one percent. Across 2022, total construction starts were 15% higher than in 2021. Nonresidential building starts rose 38% over the year, nonbuilding starts were up 19%, and residential starts were down 3%.
January 23, 2023 / Real Estate

December Pre-Lease Rate Surpasses 40%

From RealPage
Much like the last couple months, student housing pre-lease rates for Fall 2023 continue to perform at their strongest level in years. Over 40% of student housing beds at the core 175 universities tracked by RealPage Market Analytics were pre-leased for the Fall 2023 academic year, marking the highest December reading on record by a wide margin.
January 23, 2023 / Travel

Outbound China travel surges for Lunar New Year but will peak in summer

From ForwardKeys
China’s decision to ditch its zero-Covid policy has triggered a surge in flight bookings, according to the latest data from ForwardKeys. And it’s the intra-regional neighbours in Asia who will reap the benefits the most. ForwardKeys China Market Analyst, Nan Dai, shared the latest figures in a joint webinar with Dragon Trail International and the consumer sentiment data aligned with the booking trends.
January 20, 2023 / Business

Wawa and 7-Eleven: Leaning Into the “Slurpee Effect”

From Placer
Convenience stores (c-stores), once dismissed as uninspiring places to grab a quick cup of coffee or a sugar-laden snack, are re-inventing themselves as go-to, affordable places to shop, pick up tasty, ready-made meals, and splurge on low-cost treats. In the face of rising prices and shifting post-pandemic work routines – with more people working from home and commuting less often – this positioning has helped the sector sustain remarkable growth despite economic headwinds.
January 20, 2023 / Business

2022 and Beyond: Catching Up With McDonald’s & Chipotle

From Placer
When we last checked in with McDonald’s and Chipotle, both were outpacing their category peers and introducing new initiatives to help drive foot traffic and sales. With 2022 in the rearview, we dove into the quarterly performance of both chains and consider what might lie ahead for them in 2023. McDonald’s and Chipotle enjoyed impressive foot traffic growth all months analyzed. Much of this success is tied to the expansion both chains have undergone – Chipotle has grown from around 2,500 stores in 2019 to nearly 3,100 in 2022, and plans on opening an additional 250 locations in 2023.
January 20, 2023 / Business

The End of 3G: A Credit Boost for US Telecoms?

From Credit Benchmark
3G has been a major legacy network overhead and consumer of spectrum bandwidth in the US. But as 5G moves into high gear the Big 3 wireless carriers needed to reallocate capacity to fully support the 5G network, and free up resource for the development of 6G and beyond. AT&T stopped 3G services in early 2022 and T-Mobile started to retire its older networks last summer. This month, Verizon became the last of the Big 3 to shut down its 3G network – meaning 3G has effectively ended in the US.
January 20, 2023 / Real Estate

Serious Delinquency Rates for All Mortgage Loan Types Continue to Fall

From CoreLogic
The nation’s overall mortgage delinquency rates have improved significantly over the last year, according to the latest CoreLogic Loan Performance Insights Report. Data shows the serious delinquency rate for October 2022 declined one percentage point from 12 months prior to 1.2%. Compared to the peak serious delinquency rate for mortgages in August 2020, the rate in October was down three percentage points, which was mostly driven by strong labor market conditions since the U.S. economy reopened.
January 18, 2023 / Business

Holiday spending trends paint a rosy picture at Ulta and Sephora

From Second Measure
Beauty companies like Ulta Beauty (NASDAQ: ULTA) have been in the spotlight over the past several months, in response to rising cosmetic sales in the wake of high inflation and economic uncertainty (a phenomenon sometimes referred to as the “lipstick effect”). In fact, Ulta recently surpassed investors’ expectations in its third quarter earnings report and even boosted its holiday sales outlook. So how did the beauty retailer’s holiday sales fare? Using consumer transaction data, Bloomberg Second Measure analyzed holiday spending trends at Ulta and its LVMH-owned competitor Sephora.
January 18, 2023 / Business

Where Have All the Crypto Bros Gone?

From Revelio Labs
FTX’s collapse has had a domino effect on the cryptocurrency market, leading to a series of crypto-related bankruptcies. As expected, these events have had negative impacts on workers across the crypto space. However, signs of decline appeared in the crypto workforce well before the 2022 crash. Attrition from crypto companies began to increase as early as July 2021. Meanwhile, employee sentiment in crypto companies started to decrease with the dip in crypto prices in January 2022.
January 18, 2023 / Business

Let’s Have Some Fun! Going Out Is In

From Placer
The past couple of years haven’t been easy ones. But the uncertainty and stress brought on by the pandemic and the rising cost of living haven’t stopped consumers from seeking out fun things to do with friends and family – in fact, quite the opposite. Even though budgets are tight, many have a new post-pandemic appreciation for going out and continue to prioritize recreational activities as a way to de-stress and find joy and fulfillment. We analyzed foot traffic for three leading brands – Dave & Buster’s, Bowlero, and X-Golf – and broader entertainment categories in order to take a closer look at the impact demand for fun is having on visits.