PKF Hospitality Research predicted yesterday that revenue per available room, or “RevPAR”, a key measure of rate growth for hotels and resorts, will grow by 4.9 percent in the last six months of 2012.
Overall this year, the firm expects revenue per available room for U.S. hotels will rise by 5.8 percent. Next year, it projects that measure will increase by 6.6 percent. It predicts growth will accelerate between 2014 and 2016.
The biggest price increases will be captured by mid-priced hotels, PKF said. That’s counter to the trend of the last few years, when rates at luxury hotels rose at the fastest pace coming out of the recession.
Blogger’s note: This information is adapted from an MSN article published today.
“The private sector is doing just fine.” Dave Hogg