Hotel room prices rose 4.3% in 2011, expected to keep climbing
January 10, 2012 | Hotel Marketing
With business and leisure travel growing, the average price for a hotel room rose 4.3% nationwide last year and is expected to climb further this year, helping the industry rebound from the Great Recession.
Last year's increases and this year's projections came in separate studies that looked at hotel bookings over the last year and advance bookings into the next nine months.
At the end of December, hotel rates nationwide were up 4.3% from a year earlier, to an average daily rate of $107.56, according to a study released Friday by STR Global, a hotel research firm in Nashville.
Hotel rates are expected to climb 3.6% this year as demand continues to grow, according to the study by TravelClick, a New York company that provides booking software and business data for major hotel chains worldwide.
Get the full story at the Los Angeles Times
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