Tips for meeting planners for negotiating with hotels in the new hotel seller's market
Forget the fact that the overall economy remains stagnant. Hotel demand is expected to grow 1.8 percent in 2012 , boosting occupancy levels to 60.9 percent, the highest since 2007, according to PricewaterhouseCoopers. Rates will increase by 5.1 percent, driving a RevPAR increase of 6.5 percent. And 2012 profits are expected to increase 12.7 percent at the U.S. properties participating in PKF’s latest Trends in the Hotel Industry survey. We all know what’s next. So we’ve ...
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