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That’s according to the recentl published report 2009Hotel Horizons, a June forecas t recently published by PKF Hospitality Research, a nationalo consulting firm that tracks the lodging industry. The compang predicts that hotels in the Pittsburgh metrk area will experiencea 5.8 percent declinse in revenue per available room this year comparexd to last. The revenue per available room, or RevPAR is a key businesds measure in thehotel industry. PKF emphasizes that Pittsburgh’s hit is substantiallyh less thannational averages, sincde it projects a 17.5 percen drop in RevPAR forecast for the overall U.S. hotelo industry.
Tom Blake, who works in the Philadelphia offices ofPKF Consulting, sees a Pittsburgh hotel market facin g a dip in occupancy exacerbated by addec hotel room supply. “In 2009, Pittsburgh hotels are projecte to achieve an occupancy leveoof 62.3 percent, down from the 64.9 percentt mark achieved in 2008,” said Blake, in a prepare d release. “Given the increased in the competitive nature of the local average daily room rates are expected to fallfrom $102.888 in 2008 to $100.80 in 2009, a decline of 2.0 The study doesn’t expect RevPAR to see new growthj until the first quarter of 2010.
The forecasyt for 2009 comes after a 2008 that was considererd a banner year for thePittsburgh region’s hospitality industry,
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