NATIONAL REPORT— Extended-stay hotels reported stronger demand growth and less decline in RevPAR than the overall U.S. hotel market in the first quarter 2003 compared to the same period in 2002, according to the latest research by The Highland Group. However, the overall numbers do not tell the full story, noted Mark Skinner, partner, The Highland Group, a hospitality consulting and research firm. The upscale segment’s 7.8% increase in demand was primarily responsible for the overall demand growth because economy and mid-price segments saw demand fall, Skinner indicated in a prepared statement. The mid-price segment’s 2.4% growth in average rate was the key component in overall rate growth because economy and upscale segments reported declines in average rate. The upscale segment was the only segment to report growth in RevPAR, which was enough to offset relatively steep falls in economy and mid-price segments and produce a smaller decline in RevPAR than the overall hotel industry, according to The Highland Group’s research.
Previous ArticleAffinia Hospitality Debuts In NYC
Next Article Omni Adds To Management Team