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Article: Even As U.S. Hotel Occupancy Rates Decline, Average Daily Room Rates Rise, PricewaterhouseCoopers Lodging Research Network Reports.
- Article from:
- Business Wire
- Article date:
- September 2, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--Sept. 2, 1998--Even as U.S. hotel occupancy rates continue to decline slightly in 1998, average daily room rates at America's hotels will continue to rise, according to the Lodging Research Network (www.lodgingresearch.com), the comprehensive Internet-based resource for lodging industry data and information from PricewaterhouseCoopers.
U.S. hotel occupancy rates will fall from 64.6 percent in 1997 to 63.9 percent in 1998 -- below the 25-year average U.S. hotel occupancy level of 64.96 percent. Meanwhile, average daily room rates will rise 5.0 percent -- from $75.17 in 1997 to $78.94 in 1998. Historical figures are from Smith Travel ...