PredictHQ forecasts impact of US events on hospitality

Report forecasts impact of events on hotels

[Credit: Formula 1]

US: A report by PredictHQ, a demand intelligence company, shows a steady and accelerating recovery for hospitality across the US as events return.

The Demand Impact Report: The Great Hospitality Recovery of 2021, is based on data modelling across thousands of large scale events in the United States. 

Las Vegas and Austin are nearing 2019 levels, whereas San Francisco and New York lag behind. 

In Austin, a giant spike in accommodation demand throughout September and October can be attributed to the upcoming United States Grand Prix combined with all the surrounding Formula 1 events. As a result, the city is expected to see over 1.25 million potential accommodation guests. 

The second half of the year for Las Vegas is so strong that it will surpass 2019 accommodation demand twice over. Magic Las Vegas and Las Vegas Market is expected to drawn 102,000 visitors combined, and in October EDC, NAB, and the Summerlin Festival will attract 467,000 in attendance.

From July onwards, Las Angeles is at 52 per cent of 2019 levels, whilst New York sits at 49 per cent. San Francisco is one of the only cities where event attendance dropped to single digits (six per cent) during 2020, and is currently at 27 per cent of 2019 event-driven accommodation demand.

Campbell Brown, CEO at PredictHQ, said: “We expect hotels and accommodations to see big surges in customer demand in September as more large events are rescheduled. Recovery varies widely by city, state and country due to Covid-19 rates and restrictions, and our data shows the hospitality industry can expect fluctuating degrees of demand by location. There is no playbook for navigating recovery following a global pandemic, and without sophisticated data modelling that blends a full spectrum of real-time signals, businesses are flying blind. That’s why it’s critical for industries to get accurate, predictive data on live events, which have a tremendous impact on consumer demand.”

PredictHQ’s full report on The Great Hospitality Recovery of 2021 can be downloaded here.

The PredictHQ demand intelligence API helps customers understand the impact of events on their business. Users are able to access relevant event notifications, aggregated from hundreds of sources, allowing them to plan and prepare for demand. Customers of PredictHQ include Uber, Domino’s , Accenture, and other companies in the accommodation, food retail, and travel sectors.

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