Worst year ever. That’s how a lot of hotel industry observers are looking back at 2009. Just consider the stats. Revenue per available room was down 17 percent to $53.71, occupancy dropped 9 percent to 55 percent, and average daily rate decreased 9 percent to $97.51, according to Smith Travel Research’s year-end report.
"Good riddance to 2009," said Mark Lomanno, president, STR, in a news release. "The combination of a distressed economy in conjunction with panic pricing drove RevPARs