Hotels hit three-year high in profitability
According to this article, “The typical U.S. hotel achieved an 11.4 percent increase in profits in 2004 over 2003 according to the recently released 2005 edition of Trends in the Hotel Industry published by PKF Hospitality Research (PKF-HR), an affiliate of PKF Consulting. This improved profitability follows a three-year industry recession that saw unit-level hotel profits decline 36.2 percent during the period 2001 through 2003.”
This is good for hotels, of course, but they still have a way to go: “the average hotel in the Trends sample is just barely achieving the same bottom line dollars they did back in 1996.”
Related Topics: Hospitality news
