Archive for PKF

May
16

PKF: Hotel Room Rates Going Up

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Now that the national hotel occupancy rate is approaching its long run averages and scarcity has returned in certain markets and property types, guests have to pay more to rent rooms. However, after the guests have checked in, managers are struggling to get them to spend more on the additional services and amenities offered by hotels. This finding comes from the recently released 2013 edition of TrendsĀ® in the Hotel Industry, the annual compendium of hotel operating statistics prepared by PKF Hospitality Research, LLC (PKF-HR) that dates back to 1937.

Based on a sample of operating statements collected from approximately 6,500 hotels during the 2013 TrendsĀ® survey, rooms revenue increased by a healthy 6.3 percent from 2011 to 2012; however, total hotel revenue grew by just 5.0 percent. This means that the combined revenue earned from food and beverage, other operated departments, and rentals and other income increased only 2.3 percent per available room (PAR), or a mere 0.5 percent when measured on a dollar per occupied room basis (POR).

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Categories : National News
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Jul
28

PKF Hotel Horizons Market Update

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Categories : National News
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Jul
13

US Lodging Occupancy on the rise

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The recovery of the U.S. lodging industry continues in a pattern established in the first quarter of 2010, with occupancy gains still outpacing gains in room rate. According to the June 2011 edition of Hotel HorizonsĀ®, PKF Hospitality Research (PKF-HR) forecasts that the demand for U.S. hotel rooms in 2011 will increase a solid 4.9 percent, while the average daily room rate (ADR) paid by guests will rise a modest 2.4 percent.

Categories : National News
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