Dec
10

Hotel RevPAR Projected to Hit Historic Lows in ’09

By
– National Real Estate Investor

Revenue per available room (RevPAR) is now forecast to drop 7.8% in 2009, according to PKF Hospitality Research, the fifth largest annual decline since 1930, when the measure began. What’s more, hotels are not projected to see a year-over-year increase in RevPAR until mid-2010.

“The speed and severity of the downturns in employment and income continue to accelerate,” says Mark Woodworth, president of PKF based in Atlanta. “Given the strong correlation between these two economic measures and demand for lodging accommodations, we are forecasting 2.5% fewer occupied rooms in 2009. This follows an estimated 1% decline in demand for year-end 2008.”

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://nreionline.com/finance/news/revpar_historic_lows_1209/
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