Smith Travel Research is out with another look at the U.S. hotel industry. They reported decreases in all three key measurements during February 2010.
The occupancy rates are hovering just over 50 percent. Average daily room rates are now well under $100 at US$97.12. Those factors add up to a revenue per available room number of only $52.19.
The Luxury segment seems to be doing better than the rest, but they are reporting abysmal prior results.
Among the Top 25 Markets, Dallas is enjoying a 61.2 percent occupancy rate. And Denver, Miami-Hialeah and New Orleans have seen increases in occupancy. Miami has reached more than 80 percent and the Big Easy is at just over 70 percent.
Where some occupancy rates are increasing, Norfolk-Virginia Beach has seen occupancy drop to 40 percent and by Washington, D.C., faced with a difficult winter has seen occupancy drop to almost 50 percent.
Where occupancy is higher, the average daily rates are increasing. Where storms and declining economies are active, the room rates are dropping like the temperatures and workforce.
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There are LOTS of errors for such a short article: “Smith Travel Research is out with another look at the U.S. hotel industry.” , “The occupancy rates hovering just over 50 percent.”, “The Luxury segment seems to be doing better than the rest, but they are coming abysmal prior results.”, “Where some are increasing, Norfolk-Virginia Beach has seen occupancy drop to 40 percent and by Washington, D.C., faced with a difficult winter has seen occupancy drop to almost 50 percent.”. No editor?