US hotel industry ends ‘09 with double-digit RevPAR drop
January 26, 2010 | Hospitality Industry
Revenue per available room fell 16.7 percent to US$53.71 during 2009, according to year-end reports from Smith Travel Research. The industry’s occupancy fell 8.7 percent to 55.1 percent for the year and average daily rate dropped 8.8 percent to US$97.51.
“Good riddance to 2009, a year which we believe will go down as the worst in the modern hotel industry,” said Mark Lomanno, president at STR. “The combination of a distressed economy in conjunction with panic pricing drove RevPARs down to levels that were virtually incomprehensible just a year and a half ago. I look for a significant improvement in the key hotel performance indicators in 2010.”
None of the Top 25 Markets reported year-end increases in any of the three key metrics.
Get the full story at HotelNewsNow.com
Related Articles
Virgin America’s guide to not screwing up customer service
12 Mar, 2010 | Internet Marketing
Does your hotel really need a social media strategy?
11 Mar, 2010 | Hospitality Industry
Amadeus breathes new life into Otedis, aims to “shake up hotel representation model”
11 Mar, 2010 | Hospitality Industry
The need for a more holistic approach to revenue management
10 Mar, 2010 | Hospitality Industry
Carlson Hotels taps HotelsCombined.com
10 Mar, 2010 | Online Travel
Revenue management and the vicious circle of guerrilla pricing
10 Mar, 2010 | Hospitality Industry
UK travelers plan to take multiple trips abroad in 2010
09 Mar, 2010 | Online Travel
Marriott plans to double presence in Europe by 2015
09 Mar, 2010 |
Increase in OTA bookings comes at expense of GDS and voice
08 Mar, 2010 | Hospitality Industry
U.S. tourism measure draws mixed industry reviews
08 Mar, 2010 | Online Travel
Most Popular Articles
Social media in travel becomes a legitimate business force
04 Mar, 2010 | Online Travel
Does your hotel really need a social media strategy?
11 Mar, 2010 | Hospitality Industry
Travelport brings GDS advertising in-house, says good-bye to TravelClick
03 Mar, 2010 | Hospitality Industry
Un-stoppable growth in OTA bookings, GDS still lacking behind
05 Mar, 2010 | Online Travel
Content is king, but conversion is queen
03 Mar, 2010 | Internet Marketing
6 ways to drive more online travel sales in 2010
11 Mar, 2010 | Online Travel
The need for a more holistic approach to revenue management
10 Mar, 2010 | Hospitality Industry
How TripAdvisor engages mass influencers
12 Mar, 2010 | Online Travel
Raise RevPAR with value selling
03 Mar, 2010 | Hospitality Industry
The 3 key personalities of the online consumer
05 Mar, 2010 | Internet Marketing
Economic Downturn
Virgin America’s guide to not screwing up customer service
12 Mar, 2010 | Internet Marketing
UK travelers plan to take multiple trips abroad in 2010
09 Mar, 2010 | Online Travel
Un-stoppable growth in OTA bookings, GDS still lacking behind
05 Mar, 2010 | Online Travel
Global hotel prices dropped beyond 2004 levels during 2009
02 Mar, 2010 | Hospitality Industry
Things are looking up for U.S. airlines
02 Mar, 2010 | Online Travel
Asia leads travel industry’s recovery
26 Feb, 2010 | Online Travel
Meeting buyers see budget cutbacks ease
25 Feb, 2010 | Hospitality Industry
Travel companies grapple with “new normal”
23 Feb, 2010 | Online Travel
Europe likely to see recovery, not growth, says STR
22 Feb, 2010 | Hospitality Industry
Hogg Robinson Group sees early signs of recovery
22 Feb, 2010 | Online Travel
US Travel growth expected in 2010
18 Feb, 2010 | Online Travel
IHG’s profit drops 18%, as hotel rates continue to fall
16 Feb, 2010 | Hospitality Industry
Hotels offer perks in exchange for less housekeeping
08 Feb, 2010 | Hospitality Industry
Online travel growth expected to slow substantially
03 Feb, 2010 | Online Travel
Travel buyers increase hotel competition and negotiating leverage
03 Feb, 2010 | Hospitality Industry
E-Mail Newsletter
Visit our sponsors:
