Fairmont's Tom Storey says hotels haven't yet raised rates.
The latest projections from PKF Hospitality Research show amazing revenue growth on the way for hotels — a 10.2 percent increase in RevPAR (revenue per available room). In 2012, that is. At the moment, however, the hotel industry is well into yet another year of declining RevPAR (PKF-HR sees it falling 1.1 percent in 2010), as it waits for income and employment gains to take hold in the United States. Still, the trend is one of gradual improvement — “a strengthening story,” in the words of ...
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