The following are selected excerpts from an article on today’s HotelNewsNow.com site:
The North American hotel industry continues to show strength and stability, according to Tim Hart, executive VP of business intelligence for TravelClick.
For the next 12 months, committed occupancy on the books is up 4.8% year-over-year, average daily rate is up 4%, and revenue per available room is tracking ahead by 6.5%, according to TravelClick’s October 2011 North American Hospitality Review.
The group and business sectors are particularly strong.
“Rates are improving,” Hart said.
While retail rates have shown strength, the metric hasn’t grown as strongly as it should have because the hotel industry is still burning off the lower-priced corporate and group rates negotiated during the downturn, he said.
TravelClick expects steady improvement in ADR to fuel RevPAR growth in the high single digits for the rest of the fourth quarter, and possibly into the 10% range by the first quarter of 2012, Hart said.