US hotel news far from stellar
It’s not been a good spell for the hotel sector, especially in the US. We won’t bore you with all the details; those are available here. But a few nuggets from Calculated Risk are in order.
In year-over-year measurements, the industry’s occupancy fell 8.7 percent to end the week at 65.4 percent. Average daily rate dropped 9.5 percent to finish the week at $97.49. Revenue per available room for the week decreased 17.4 percent to finish at $63.74.
We’ll be on the lookout for comparable European numbers.
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