Jul
29

Hotel-Sector Fundamentals Rebound

By
– Loopnet

The national hotel market is improving for the first time since entering a steep and steady nosedive in 2008.

Occupancy level gains have offset still-weak room rates to help drive the sector’s revenue per available room metric up during the first half, according to data from Smith Travel Research.

The Hendersonville, TN, research firm noted that during the second quarter, the national occupancy level rose 3.6 percentage points to 60.7%, while the average rate held flat at $97.87, resulting in a RevPAR gain of 6.2% to $59.44.

For the first half of the year, occupancy rose 2.4 percentage points to 56.4% when compared to the same time a year earlier. Meanwhile, the average rate fell 2% to $97.18 and RevPAR increased 2.3% to $54.80.

ARTICLE SHORTENED DUE TO LENGTH….

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