PKF Hospitality Research projects average daily rates for U.S. hotels will increase by 5.4 percent on a compound annual basis through 2016. Although U.S. fiscal cliff negotiations have the potential to derail hotel performance next year, the overall four-year period should be a "period of sustained levels of prosperity" with "record profitability" for hoteliers, PKF Hospitality Research president Mark Woodworth said in a statement. U.S. hotel occupancy by the end of 2013 should reach 62.1 percent, above the long-term average, according to PKF.
This page is protected by Copyright laws. Do Not Copy. Purchase Reprint
Kirk Kinsell, president of InterContinental Hotels Group's operations in the Americas, will become CEO of Loews Hotels & Resorts in March 2015,... read more »