CBRE Hotels Research is scheduled to release our Q2 2021 forecast this week. This quarter you will see revisions to historical performance data that were the result of methodology changes enacted by our data provider, Kalibri Labs.
Kalibri Labs revised its historical performance and supply metrics for past periods to account for the following enhanced hotel performance research: a re-estimation of ADRs in markets with high percentages of independent hotels; a complete and necessary audit of their hotel census; the addition of two new data providers; and the reclassification of Independent Hotels into their most logical chain class. A complete breakdown of the changes is provided by Kalibri Labs in the document linked below.
2021 Kalibri Labs Data Methodology Updates
Our comparison of the history provided by Kalibri Labs for our upcoming report to what was published 90 days ago revealed the following:
- - Historical performance recalculations did impact certain markets. We found the greatest variances in two categories:
- - Large urban markets with independents
- - The lower-priced segment
These two groups require the greatest need to estimate performance.
We have assurance from Kalibri Labs that they are committed to reducing the frequency and magnitude of revisions to their procedures. Our top priority continues to be the delivery of our most current and up to date thinking possible. As such, we will continue to proactively communicate any changes that impact our product.