Summer has always been the peak travel season for U.S. travelers. While the past few summers have kept more Americans at home than usual, the summer of 2010 is shaping up to be a much better travel season, especially for hotels.
According to STR’s revised 2010 summer forecast, the U.S. hotel industry is forecast to end the summer with increases in all three key performance metrics in year-over-year comparisons – occupancy, daily rate and revenue.
For the months of June, July and August, STR – a worldwide leader in hotel benchmarking and research statistics – anticipates hotel occupancy to increase 4.3 percent to 64.4 percent; the increase in average daily room rate will rise 0.1 percent to $97.17; and revenue per available room will increase 4.5 percent to $62.60.
This is a successful jump from the summer of 2009, when STR reported occupancy fell 9.1 percent to 61.7 percent; average daily room rates dropped 9.6 percent to $97.15 from the previous year, and revenue for available room was down 17.8 percent to $59.96.
What’s this mean for travelers? The economy is still on the up-and-up and travelers are starting to resurface and indulge in their favorite travel traditions. If you haven’t already booked a vacation, it’s time to make some buying decisions. As hotels start to book at occupancy, less rooms will be available for discounts or upgrades. Want a few tips? Check out: Ask Gadling: Getting the most (hotel) bang for your buck.
[via HotelMarketing.com]