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Hotel Market to Get Sunnier in 2001

PHOENIX-The Valley's hotel market could see a slight increase in demand and a 3% increase in room rates, provided that a recession doesn't crimp tourism and business travel.

By D.J. Burrough | Updated on December 29, 2000

PHOENIX-Next year could be rosy for tourism and the hotel industry if consumer confidence can be buoyed and recession can be staved off.

In 2001, hotel occupancy should rise slightly and room rates should rise by 3%, says Rich Warnick, head of Warnick & Co., a Phoenix-based hotel analysis firm. “If there’s a recession you can expect to see that hotel occupancies are going to drop off,” he says.

Those predictions all go by the wayside if the recession is longer and deeper than expected.

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