Lowest repar in ten years for US hotels
21 March 2001
American hotels will see the lowest revenue per available room (revpar) for almost 10 years during 2001, according to a new report.
The US Lodging Forecast by advisor PricewaterhouseCoopers, predicts room demand will expand by only 1.9% in 2001 and average daily rates will increase by 3.8%, the slowest growth rates since 1993, and average occupancy is expected to fall to 62.9%.
This means revpar will grow by 2.9%, the report says, just above the rate of inflation and the slowest growth since 1992.
However, all is not to bleak in the long term. The report goes on to predict a 4.3% growth in revpar during 2002 and an average daily rate rise of 3.9%.
