Hospitality Trends - PKF News

As we enter 2010, words like, 'economic downturn' and 'recession' are still lingering in everyone’s minds. The service industry among others was significantly impacted by the events commencing in the fall of 2008 and unfortunately, hotel spas were not immune. Hotel spa operators reported that they began to feel the impacts of the economic... - More

In the December 2008, the National Bureau of Economic Research (NBER) made the official proclamation that the U. S. entered an economic recession in December 2007. As is sometimes the case, U.S. hoteliers began to feel the pain well before most other businesses. - More

For hotels in the upper-tier chain scale categories, government travelers have historically been viewed as 'guests of last resort.' While government business is abundant, the per diem room rates set by federal, state, and local agencies are generally viewed as low. In addition, ancillary expenditures for food, beverage, retail, and recreation ... - More

PKF Hospitality Research (PKF-HR) today announced that, according to its December 2009 edition of Hotel Horizons(R), the pace of recovery of the U.S. lodging industry has accelerated from previous expectations. Improving industry data for such key indicators as occupancy, RevPAR, and demand suggest that the recovery will arrive a full quarter e... - More

Health care reform is an important topic for the hotel industry because it is directly related to labor costs. Labor costs are usually the largest operating expense for a hotel. In 2008, total hotel labor costs equaled 32.9 percent of revenue and 45.8 percent of all operating expenses. - More

With the assistance of its advisor, PKF Consulting of Atlanta, the Hotel Roanoke & Conference Center (HR&CC) is seeking proposals from qualified management firms interested in operating the 332 room historic hotel and adjoining conference site in Roanoke, Virginia. - More

The U.S. lodging industry rebounded strongly after its 2001 to 2003 industry recession. RevPAR growth exceeded 7.8 percent each year from 2004 through 2006. While hotels achieved a relatively strong 5.8 percent growth in RevPAR in 2007, industry performance started to show its first signs of softness. During the year, demand grew less than 1.... - More

The good news is that when faced with lower levels of business in 2008, U.S. hotel managers cut operating costs by 0.3 percent. Unfortunately, total hotel revenues dropped 1.3 percent, resulting in a 3.8 percent decline in net operating income for the average U.S. hotel according to the 2009 edition of Trends(R) in the Hotel Industry. Given th... - More

PKF Hospitality Research (PKF-HR) today announced that, according to an advance release of the September 2009 edition of Hotel Horizons(R), nine consecutive quarters of declining lodging demand will come to an end in the second quarter of 2010. - More

Caribbean Hotel Profits Hit Hard By Economic Recession - More