Hotel data show rising rates for upper tiers
July 26, 2010 |
Upper hotel tiers increased rates year over year in June, while lower tiers continued to see rates fall, according to data released on Wednesday by Smith Travel Research
Overall for June, U.S. hotel occupancy climbed to 65 percent, up 6.9 percent from its levels in June of 2009. Average daily rate increased by 1 percent, and revenue per available room was up 8 percent.
"While this is certainly an encouraging sign, virtually all the increase in room rates was found in upper-end hotels and those in New York City," STR president Mark Lomanno said in a statement. "The industry's recovery will not be in full swing until room rate increases are seen in a much wider swath of industry segments."
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