Even with an ever growing supply of rooms, demand exceeded the new growth during 2000, which helped room revenue grow by 8.4%, according to Smith Travel, a Henderson, TN-based hotel industry research firm.
Another positive sign from last year, the overall occupancy rate for the year was 63%, up 1.1% from the prior year. The average room rate in the Valley also rose by just under 2% during 2000, up to $100.61, the Smith Travel survey showed.
Nationally, hotels had an occupancy of 63.5% in 2000, up 0.6%, and the average room rate roe by 4.9% to $85.24.
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