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Tuesday
Oct252011

Florida Hotel Industry Sees Growth in 2012

12 Month Outlook Reveals: Increase in Demand and Room Rates Lead to More Revenue for Hotels

TravelClick’s October 2011 North American Hospitality Review indicates the hotel industry is continuing to show strong growth in the business, leisure and group travel segments.  The North American Hospitality Review is based on actual hotel bookings for the period October 1, 2011 through September 30, 2012.

For the next twelve months, committed occupancy is up 4.8 percent year-over-year, average daily rate (ADR) is up 4.0 percent, and revenue per available room (RevPAR), a top-line indicator, is tracking ahead by 6.5 percent.

Florida markets showing the most year-over-year occupancy growth include:

Miami (October 1, 2011 – September 30, 2012)
ADR – +4.7%
Occupancy – +10.3%
 
Orlando (October 1, 2011 – September 30, 2012)
ADR – +3.2%
Occupancy – +3.0%
 
Tampa (October 1, 2011 – September 30, 2012)
ADR –- -1.0%
Occupancy – +4.2%

First Quarter (January 2012 – March 2012)

According to the report, demand in the first quarter of 2012 is strong, with pace – room nights added over the past month – up 15.3 percent nationally and total committed occupancy up 2.4 percent nationally compared to last year.  Group blocks are showing a 2.0 percent increase compared to 2011, with group pace up a strong 18.7 percent.