Last year, when many people stopped traveling, hotels cut prices in the hopes of bolstering their struggling occupancy rates. A year later, occupancy is coming back, although the average daily rate (ADR) charged by hotels is still lags. (The exceptions are New York and a few other scattered markets where ADR is pretty much back […]

Lodging Econometrics (LE) has revised its forecast for new constructed hotel openings downward for 2011 and 2012, as the  banking crisis continues to strain the availability of construction financing. Next year, a revised 562 new hotels/57,482 rooms are now projected to open, while the forecast for 2012 lowered to 515 hotels/52,213 rooms. This year, the […]