ATLANTA, May 3 /PRNewswire/ -- According to survey results in the recently released Trends® in the Hotel Industry report issued by PKF Hospitality Research (PKF-HR), the average U.S. hotel suffered a 35.4 decline in profits in 2009. This is the greatest annual fall-off in the bottom line since PKF-HR began tracking the industry in the 1930s.
"Declines in revenues make the headlines, but the bottom line is where the rubber meets the road for owners," said R. Mark Woodworth, president of PKF-HR. "The 35.4 percent decline in profits realized in 2009 has severely stressed borrower/lender relationships throughout the country as delinquencies, defaults, foreclosures, and bankruptcies continue to escalate."
"2009 was such a singular year in terms of hotel expenses and profits," he added. "As the industry approaches a turn, all parties with a vested interest in the bottom line should be measuring their performance against that of comparable facilities to insure that optimum operational efficiency is being realized. Because of these extraordinary times, the detailed 2010 Trends® data is more valuable than ever."
Then it would be nice to see some desperate from the hotel chains. Vegas rooms are still avg $80/night. They need to get a clue and start bending over like the rest of us. Instead, they have large coffers and are planning on riding it out. Good luck with that.
ReplyDeleteare you a nut, the new eastside cannery is 29.95 a night with ceiling to floor windows and large flat screen tv with sauna tub
ReplyDeleteThanks for the tip pal.
ReplyDeleteCanery is $39/night, $69 a night on the weekends, NOT $29.95. Thanks anyway. Another proud place soon to be BK.
ReplyDeletejust paid 29.95 3 days ago, better check again and they are beautiful new rooms, hotel opened about a year ago, you will love the rooms
ReplyDeleteI travel one week per month in The U.S. All of the Hotels and Motels that I stay in are reduced in price from 2008. They still quote high rates over the phone but when I tell them I am looking for a rate about 40% less I always get it. From High end to midlevel places. Also I never see more than 50% occupancy during the week. Many times as low as 20%.
ReplyDeleteMany places that never allowed pets now do.
ReplyDeleteMany place that never allowed colored people now do!
ReplyDeleteohh snap.
ReplyDeleteThe White House yesterday vowed to keep its "boot on the throat" of BP to make sure the UK energy group pays all costs relating to the oil spill in the Gulf of Mexico, including compensation for fishermen whose livelihoods have been destroyed.
ReplyDelete"If local fishermen can't fish, that's an economic loss that BP is going to have to pay for," Robert Gibbs, the White House spokesman, told reporters yesterday. "The economic damages that are incurred are part of the cost of the incident."
Under laws enacted following the 1989 Exxon Valdez spill, the "responsible party" is required to pay for all costs. However, there is a $75m liability cap on damages such as lost earnings and harm to local resources. Three Democratic senators yesterday launched an effort to raise that cap to $10bn.
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http://www.ft.com/cms/s/0/fee351b6-5714-11df-aaff-00144feab49a.html
Hotel motel revinew decline just in time for city investments? Three cities i know recently built hotels with tax money, phoenix az, portland ore,vancover wash, and cedar rapids ia just opening!
ReplyDeleteThis would be a lot easier if this was a dictatorship.
ReplyDeleteMany places that never allowed the poor now do!
ReplyDeleteThat's desperation..
Hmm, perhaps these empty hotels can be used to temporarily warehouse the homeless, at least until the FEMA camps are in full operation. Add some bunks and I suspect you could put 10-12 to a room....Add some bars to the windows and secure locks on the doors and they're all set.
ReplyDeleteWent to a conference in Baltimore at a fancy hotel. Rooms were $110 a night plus a ton of taxes (and that was the conference rate). I also had to pay for the privilege of parking my car there--that cost $29 plus $4.50 in tax per day! And breakfast was at least $15. They seemed to have a decent number of people in the hotel, but I won't be going there again.
ReplyDeleteTry Chicago where you pay twice that $110 for a mid-level hotel, add $50/night for your car to sleep in the lot, and $20/night for internet. And they're still usually full.
ReplyDeletetry las vegas where you pay 29.95, at a 4 star new hotel, with flat screen tvs, big jacuzzi tubs, two large new beds, hotel open 1 year, free parking and a casino at the bottom of the elevator, plus all the pretty women you could ever want to see or be with, for next to nothing as vegas is in a major depression, swimming pool with hot babes for 29.95 a night at the eastside cannery
ReplyDeleteDo you work there? Why are you misleading about the price? I called. $69/night on the weekends, $39 otherwise. Same price when you call. $39 is a great price if it is as nice as you say, but get the price right.
ReplyDeleteMaybe some of them will start washing the sheets between guests now.
ReplyDeletelocals with a nevada id, get it for 29.95 call them and ask for the locals discount. sorry I did not mention that
ReplyDeleteSmall, romantic and luxury boutique hotels in india with excellent room services, a beautiful place to stay in india.
ReplyDeleteHotels industry is maybe one of the leading business nowadays.
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