RSS
Home
Hotels see RevPAR fall in third quarter
Print
Email
RSS
Subscribe
The sluggish economy continues to impact the hotel industry. According to Smith Travel Research, revenue per available room (RevPAR) for the third quarter of 2009 dropped to $58.61. That's a 16.9 percent decline compared to the same period in 2008.
The good news is the drop is an improvement from the previous two quarters this year. For example, first quarter RevPAR was down 17.7 percent and the second quarter dropped 19.5 percent.
Overall according to STR, the industry’s occupancy dropped 7.9 percent to 60.5 percent, and average daily rate fell 9.8 percent to $96.84.
“Third quarter U.S. lodging industry performance improved marginally from the first two quarters of 2009, but remained weak,” said Bobby Bowers, senior vice president of STR. “The industry has now experienced five consecutive quarterly
"RevPAR declines and eight consecutive quarterly occupancy declines. Fourth quarter comparables will be much easier, but we still expect negative industry RevPAR movement for the remainder of 2009 and most of 2010.”
Related Articles:
Add a Comment
