• 2016 Lodging Industry Enjoys Positive Cycle

     
    POSTED July 24, 2017
     

The hotel industry’s performance during 2016 was solid in most Michigan markets and the year ended on a positive note, reports Charles Skelton of Hospitality Partners in Ann Arbor. The firm has tracked the state’s lodging sector performance for years.

“We are at the point in our cycle where gains in occupancy will be much slower while rate will continue to increase, but at a more reasonable pace," says Skelton in his firm’s spring/summer newsletter released earlier this month.. "I think 2017 will be a solid year with softening coming in 2018 and 2019. To what degree that softening takes place really depends on what happens nationally."

Detroit’s renovated Cobo Convention Center is receiving rave reviews, Skelton adds. “Coupled with the sports teams, bars and restaurant activity, and the newly arrived residents, the D is heading into the century reclaiming some of its glory as the 1940s and 1950s when it was truly a world-class city and an engine for the Midwest.”

BIG Wall Décor challenges the notion that owning large, beautiful artwork is only for the wealthy art connoisseur. With more than 20 years of experience printing for luxury brands, the BIG Wall Décor team uncovered a new print/framing solution that makes it easy and affordable (pieces start at $125) to display large-scale, on-trend artwork in trade show booths, at events, in the office, and at home. 

 

The meetings and events industry has faced its fair share of ups, downs, and everything in between since early 2020. There have been lessons learned, approaches changed, and flexibility fostered to keep moving ahead during the pandemic. Let’s take a quick look at what to expect for 2023 through the lens of the 12th annual Global Meetings & Events Forecast, produced by American Express Meetings & Events, a division of American Express Global Business Travel. 

 

Results from the Incentive Research Foundation’s (IRF) 2022 Incentive Travel Destination Preferences & Their Impact on Motivation confirmed that interest in incentive travel as a motivating sales reward is at an all-time high. 91% of 405 survey respondents described group incentive travel as extremely or very motivating compared to 80% last year. Individual incentive travel was rated even higher as a motivational award at 96% versus 84% last year.