Extended-stay hotels post big RevPAR declines as recovery emerges
17 Feb, 2010
Hotel and Motel Management
Aggressive room rate cutting in the second half of 2009 contributed to a 15.4 percent RevPAR decline for extended-stay hotels compared to 2008. After several quarters of falling demand, rate reductions helped lift demand into positive territory in the third quarter 2009 and boosted it to more than an 8-percent increase in the fourth quarter.
Demand growth coupled with a more than 50-percent decline in the development pipeline are signals that other measures of operating performance will be moving into recovery mode in the not too distant future.
The 2010 US Extended-Stay Lodging Market is the most comprehensive information available on this sector of the lodging industry. Complimentary copies of the report are available to the press. The retail price of the report is $395. The Highland Group is a hospitality consulting and research firm best known for its extensive research and publications on extended-stay lodging. For more information, please call Mark Skinner at (404) 872 4631.
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