U.S. 2008 hotel revenue seen rising at slower rate
January 29, 2008 | Hospitality Industry
Revenue for U.S. hotels will keep rising in 2008, but at a slower rate than in the past couple of years as leisure travel softens and the supply of new hotel rooms increases, industry experts said on Monday.
Despite recession fears, steady demand from business travelers is expected to allow hoteliers to raise room prices by 5.2 percent this year, while occupancy slips 0.8 percent, bringing revenue per available room—a combination of room rates and occupancy that is a benchmark of industry health—up 4.4 percent for the year, according to a forecast from Smith Travel Research presented at a lodging industry conference in Los Angeles.
Revenue per available room, or revpar for short, rose 5.7 percent last year and 7.8 percent in 2006.
U.S. consumers are cutting back on spending and a full- blown recession would indeed crimp the business travelers that hotels have come to rely on as their best-paying customers, but Smith Travel, which tracks the lodging industry, does not forecast a recession.
Get the full story at Reuters
Related Articles
Rate integrity in a down market
02 Jul, 2009 | Hospitality Industry
Marketing is storytelling
02 Jul, 2009 | Hospitality Industry
How to maximize your hotel’s GDS distribution
30 Jun, 2009 | Hospitality Industry
Aloft incorporates gaming into its Web experience
30 Jun, 2009 | Hospitality Industry
Asia: Rate parity - the elusive dream which just got more elusive
25 Jun, 2009 | Hospitality Industry
Carlson empowers employees to make revenue optimization decisions
25 Jun, 2009 | Hospitality Industry
How to ask better questions
25 Jun, 2009 | Hospitality Industry
Hotel technology moving into the cloud
24 Jun, 2009 | Hospitality Industry
New hotel review site launches with independent, expert reviews
24 Jun, 2009 | Hospitality Industry
Pegasus taps VFM Leonardo for ODD and Content Hub
24 Jun, 2009 | Hospitality Industry
Most Popular Articles
How to maximize your hotel’s GDS distribution
30 Jun, 2009 | Hospitality Industry
PKF sees hotel rates continuing to fall in 2010
17 Jun, 2009 | Hospitality Industry
If you discount, do so carefully
18 Jun, 2009 | Hospitality Industry
Summer travel trends according to hotels.com
23 Jun, 2009 | Online Travel
Luxury brands waking to a new reality
18 Jun, 2009 | Hospitality Industry
New hotel review site launches with independent, expert reviews
24 Jun, 2009 | Hospitality Industry
Hotel technology moving into the cloud
24 Jun, 2009 | Hospitality Industry
Destination marketing in the age of Web 2.0 and beyond
16 Jun, 2009 | Online Travel
Information key feature for tourism social networking
25 Jun, 2009 | Online Travel
“Thriving” not just “surviving” in a depressed economy: Tips for the independents
17 Jun, 2009 |
Economic Downturn
Rate integrity in a down market
02 Jul, 2009 | Hospitality Industry
The incredible shrinking airline
02 Jul, 2009 | Online Travel
U.S. spending on travel, tourism dropped 5.9% in first quarter
18 Jun, 2009 | Online Travel
If you discount, do so carefully
18 Jun, 2009 | Hospitality Industry
Luxury brands waking to a new reality
18 Jun, 2009 | Hospitality Industry
Travelocity says book now
17 Jun, 2009 | Online Travel
LHW courting guests discreetly with sweet deals
16 Jun, 2009 | Hospitality Industry
The new normal, according to McKinsey
11 Jun, 2009 | Internet Marketing
Pressure on hotel rates not likely to go away soon
04 Jun, 2009 | Hospitality Industry
Travelocity issues ‘Traveler Confidence’ report
03 Jun, 2009 | Online Travel
New study reveals changes in leisure travelers’ online search behavior
02 Jun, 2009 |
Marriott launches ‘Deal of the Day’, exclusively on Twitter
02 Jun, 2009 | Hospitality Industry
Expedia makes airline no-fee policy permanent, eliminates hotel cancel/change fees
28 May, 2009 | Online Travel
The new high-end consumer
28 May, 2009 | Internet Marketing
Hoteliers most concerned with marketing ROI
26 May, 2009 |
E-Mail Newsletter
Visit our sponsors:
