Hotel Demand Still Down Despite Economic Optimism

Recent research reveals that the hospitality industry is still depressed despite signs of a recovering economy. Lower demand has resulted in a continuing downward spiral in nationwide occupancy and revenue-per-available-room (RevPAR) numbers. According to Smith Travel Research, overall RevPAR fell 4.5 percent for the week ending June 1, while occupancy had fallen to 58.4 percent nationwide. Upscale hotels have been the hardest-hit, registering double-digit RevPAR fall-off figures of