Are you a hotel asset manager, general manager or owner representative in the middle of tweaking your projections for 2012? Cannot decide if the economy both nationally and internationally will be a boom next year?? Here are two recently published reports that send a mixed message. According to this report* just released in the Los Angeles Times: – “International tourists continue to spend record amounts in the U.S. and are on pace to top the previous annual high mark in tourist expenditures set in 2008, according to new data from the U.S. Office of Travel and Tourism Industries. The agency, which released the report Tuesday, predicted that international tourism spending will surpass $152 billion for 2011, up from the previous record of $141 billion in 2008.” *The takeaway here for a hotel asset manager, if your lodging property is close to the Northern and Southern U.S. borders, is 31% and 13% is projected from Canada and Mexico respectively. However, the conflicting news**, that was published just a day ago in Travel Weekly when deciding your marketing plan for a hotel, is the slower growth estimated for USA hotels in 2012. According to interviews with several fellow hotel advisors in hospitality services: – “Analysts say revenue per available room among U.S. hotels will advance by about 5% or so, down from about 8% this year, as continuing questions about the global economy and tougher year-over-year comparisons will slow occupancy growth to a crawl.” **One silver lining is that national hotel development is at a standstill. Raising room rates as part of your hotel asset manager budget should be very doable given that both occupancy and room rates are still expected to increase in many domestic markets.
Perry Group
Hotel & Restaurant Experts For The Hospitality Industry
