Recent statistics this month that we reviewed as part of our hotel expert analysis for clients suggest the turnaround in the lodging industry continues although cautiously by many accounts. Two recent reports by hotel analyst firm PKF and major hotel chain Starwood highlight certain aspects of the recovery. According to this month’s Hospitality Market Update from PKF Hospitality Research, the following key hotel fundamentals are up in March and are expected to remain positive until 2016: “Hotel RevPAR in the USA is projected to rise approximately 6%;” “Occupancies almost 2%;” and “Average Room Rates slightly up over 4%.” Access to the full report for owners and operators can be found at Hotel-Online by this hotel expert services firm here. In a separate report on the impact of gasoline prices and according to this summary from the CEO of hotel and resort management giant Starwood Hotels & Resorts Worldwide: “The jump in oil cost echoes on a further enhancing economy worldwide and in our own United States, which often times can aide instead of hinder the hotel and resort industry. The increase in oil costs would have to be significantly high enough to disturb hotel or resort growing demand. When oil price tags ended up going on to an unheard-of level, it might be a big concern. Should it be these prices increase even from which they tend to be now, I am not alarmed.” Need other updates and input about the hotel and lodging industry? Subscribe to The INNsider newsletter and check out what other hotel advisory services say from time to time. You can also contact me directly. I will be happy to provide a no-cost preliminary hotel expert overview about what is going on in the hospitality industry now.
Perry Group
Hotel & Restaurant Experts For The Hospitality Industry
