LOS ANGELES— U.S. hotel room revenues fell 7% to 9% in February, marking the industry’s best performance in months, according to Smith Travel Research. Hotel occupancy rates for the month fell 3% to 5%. While February saw a room revenue decline, it was a clear improvement over January, when the figure was down 12.9%. It was also the first month the industry suffered only single-digit decreases since September 11. The luxury segment still suffered the most among the price sectors, showing an 11%-13% room-revenue decline. Economy hotels meanwhile, suffered a more modest 2%-4% drop. Despite the improved showing, analysts forecast that it will still take until the third quarter of this year for the industry show stop showing year-to-year declines; part of the improvement will come from the fact that third-quarter 2001 will be easy to beat.
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