Feb
02

Hotel Rates Reach New Record; More Guest Fees to Come

By

sales up graphIf hotel rates seemed a bit more expensive last year, it wasn’t your imagination.

The average U.S. hotel rate in 2014 was the highest ever — up 4.6% to $115 per night — and industry experts are predicting a 5.2% increase by the end of this year. On top of higher rates, you can also expect hotels to add more guest charges, such as early check-in fees.

A new report by STR Inc., a hospitality research firm, also shows that the average revenue collected by hotels per available room rose by 8.3% to a record $74, and occupancy jumped 3.6% to 64.4%.

The highest room rates in 2014 were in New York, where hotel guests paid an average of $263 a night, according to STR. The second-highest average rate was on Oahu Island in Hawaii ($221 a night), followed by San Francisco ($207) and Miami ($185). The average hotel rate in Los Angeles last year was $147, about $10 higher than the average for 2013, according to STR. That’s a boost of about 7%, which outpaced the national increase.

READ MORE HERE

Be Sociable, Share!
    Categories : National News

    Comments are closed.