According to PricewaterhouseCoopers’ latest forecast, revenue per available room is going to go up 6.3 percent in 2004, the biggest leap in 20 years.
- "We were criticized for being too negative in 2002 and 2003, but our forecasts were almost exactly the actual results, and for 2004 and 2005 we have been criticized for being too positive. But this regularly scheduled quarterly update is for even more positive growth in rate; our demand forecast for 2004 is unchanged," said Dr. Bjorn Hanson, Global Practice Leader of PricewaterhouseCoopers Hospitality & Leisure Practice.
Smith Travel Research also has optimistic findings for hoteliers:
- The hotel industry is in its first solid year of recovery, posting a 5.3% increase in room revenue in the week of Sept. 18 from a year earlier, according to Smith Travel Research.
Following a three year slump, occupancy in the week rose 4% to 67% and the average daily rate rose 1.3% to $85.23. Revenue per available room rose 5.3% to $57.08.
Do you suppose that those tacked-on fees for everything from fitness centers to newspapers to energy will go away as RevPAR increases? Somehow, I’m not holding my breath
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