“We expect fairly rapid average-daily-rate movement soon.”—Mark Lomanno, STR
With a piece of news many didn’t expect to hear from hotels until next year, Marriott International announced that rates at its North American hotels rose during the month of May, up 1 percent from May 2009. Revenue per available room rose 9 percent. In a video press release June 10, Mark Woodworth, president, PKF Hospitality Research, said the company is “calling for a quicker turnaround” than previously projected, based on first-quarter results and current economic data. “The lodging ...
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