Signs of recovery in the hotel industry

According to these article from Reuters and Hospitality Hotel and Travel News, at the New York University Hospitality Conference on June 8, 2010, hotel industry experts reported that the hospitality industry is recovering from the recession more quickly than expected, particularly in New York City.

According to hotel industry analysts, New York City hotels have maintained high occupancy rates of about 80%, even during the recession. Revenue from hotel rooms has increased from last year, and is predicted to continue increasing for several years to come. In another sign of recovery, Marriott Hotels has increased its room rates for the first time in two years.

With many people still suffering from the recession, these signs that the industry is bouncing back are long overdue.
 

Seetharaman, Deepa. Marriott rates rise for first time since 2008. Reuters. June 8, 2010.

Rushmore, Steve. Manhattan hotel market overview. Hospitality Hotel and Travel News. June 8, 2010.

Photo by William Warby.