Market Trends

💸 September 22, 2026, Europe: Booking.com's Peter Lochbihler claims balanced hotel distribution, citing HOTREC study. Online travel agencies account for 29.9% of bookings, with Booking.com taking 66.1% of that, or 19.8% overall. Booking Holdings, including Agoda and Priceline, reaches 20.6%. The EU court upheld Booking's market dominance claim on September 9. Direct bookings stand at 51.3%. Independent hotels see Booking Holdings at 69.4% of OTA bookings. HOTREC urges Digital Markets Act enforcement.

📈 Indonesia's economy grew 5.03% in 2024 and 5.11% in 2025, supported by household consumption and public spending. Inflation is expected to rise to 3.4% in 2026. Tourism accounted for 5.1% of GDP in 2024, contributing IDR 1,138 trillion, with projections for 5.5% in 2025. The hotel market saw luxury and upper-upscale hotels lead recovery, while midscale hotels lag. Bali, Jakarta, and West Java face occupancy challenges despite ADR growth. Regional comparisons highlight Indonesia's price-centric recovery.

🏨 Access Point Financial released a report on hotel construction loans, highlighting key trends up to 2026. Hotel development is shifting from new builds to renovations due to rising costs. Luxury hotels show active construction with 59 projects underway by Q1 2026. Construction costs rose by 8% in 2022 and 6% in 2023. Hotel CMBS rates are 5.85%-6.85% as of July 2026. U.S. hotel supply growth dropped to 0.5% in 2025, leading to increased mergers and acquisitions.

📈 In H1 2026, Italian hotel investment hit €1.3 billion, down 18% YoY but 53% above the 10-year average. Milan's investment soared 143% YoY to €346m, while Rome dipped 36% to €308m. Cross-border capital accounted for 67% of total volume, with European buyers up 249% YoY. Italy's hotel RevPAR grew 11.3%, topping Europe, with Milan's February RevPAR up 206% due to the Winter Olympics. Tourist arrivals reached 88 million (+4.4% YoY).

📈 Business and leisure travel segments can distort hotel forecasts. Mixing segments like transient business (400 room nights) and conferences (200 room nights) in one code can result in miscalculations. For example, a 500-room-night congress can lead to a forecast error of 450 room nights. To correct this, mapping segments separately without altering PMS codes is crucial. Shifts from OTA to direct bookings can falsely indicate demand change, affecting marketing and budget decisions.

🏠 Villa Pieds Dans L'Eau, designed by Savin Couëlle, is situated on Corsica's Cavallo Island in the Strait of Bonifacio. Built over four years in the 1970s, the villa spans 700 sqm with 12 bedrooms and 12 bathrooms, set in a 4,700 sqm coastal park. The property features a central granite staircase, organic architecture, and direct sea access. It includes an independent guest house and a private beach. For sale via Lionard Luxury Real Estate for €18 million.

🏠 San Francisco's Hilton hotels sold for $408M in November 2025, 75% below their $1.5B 2016 peak. By June 2026, Hyatt Regency Embarcadero sold for $340K per key, reflecting market recovery. Midwest markets like Columbus excel, with a 6% occupancy rise and 14.5% more rooms sold since 2019, driven by Anduril, Amazon, and Meta investments. Chicago improves with a 3.9% occupancy rise despite a negative reputation. Detroit, Cincinnati, and Indianapolis failed due to oversupply.

📊 In November 2025, Hilton San Francisco Union Square and Parc 55 sold for $408M, 75% below their $1.5B value in 2016. By June 2026, the Hyatt Regency Embarcadero sold for $340,000 per key. Columbus, with a 6% occupancy increase and 14.5% rise in rooms sold, emerged as a top Midwestern market. Chicago's full-service occupancy rose 3.9% and ADR by 9.5%. Detroit, Cincinnati, and Indianapolis failed due to supply issues, with new pipelines at 16%, 18%, and 25%, respectively.

🏨 Aimbridge Hospitality now manages The Westin Cincinnati, a 456-key hotel, and will operate the 700-key Cincinnati Downtown Marriott under construction in the Convention District. The Marriott, anchoring an $828 million redevelopment, began construction in July and secured $540 million in financing. Portman, the developer, acquired The Westin in 2025 and plans renovations next year. The Marriott will feature 60,000 sq. ft. of meeting space and a 17,000 sq. ft. events terrace. Aimbridge is an equity partner in the project.

🏁 During the Madrid Formula 1 weekend, hoteliers faced inventory issues despite a 69.6% increase in ADR from €286 to €485. Despite 350,000 spectators, hotel occupancy stalled at 70% due to inventory custody issues. Flight searches surged from the UK, France, South Korea, and Uruguay. Hotels faced problems with room allocations and late release of unsold rooms. Lessons for future events: focus on inventory control alongside demand metrics.