Economic Trends

Room supply on the rise in Orlando

9 Jan, 2012

Central Florida will see several hotel projects opening this year, adding more than 2,650 guestrooms, according to the Orlando Sentinel.

The article cites data from Visit Orlando and Smith Travel Research. STR's data shows the area's average daily room rate should increase 3.2 percent, and revenue per available room is forecast to grow 1.3 percent.

The inventory growth is driven largely by the opening of Walt Disney World's new Art of Animation resort, which will have 1,120 suites and 864 guestrooms. The first phase is expected to open May 31.

The article also cites attendance growth for the Orlando convention industry. The Orange County Convention Center has 114 events booked so far in 2012.

"I think we're in great shape. We have a lot of new shows coming in," said convention center executive director Tom Ackert, in the article. "2012 may be a real banner year for us."

Topic : Orlando, Disney, Supply
External Source : Orlando Sentinel

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