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More Hotel Rooms Mean Less Revenue

TAMPA, FL-J.P. Morgan's RevPAR report points to a 10% decline in the Tampa Bay market.

By Carl Cronan | Updated on April 28, 2008

(Carl Cronan is editor of Real EstateFlorida.)

TAMPA, FL-New hotel rooms are a welcome sight to travelers, but may not work out so well for existing operators. An industry report shows hotels in the Tampa-St. Petersburg market are losing at least 10% of their revenue per available room compared with a year ago.

The latest “RevPAR Roominations” report by J.P. Morgan Securities Inc. points to the Tampa Bay area as being among the nation’s laggards in this key measurement of hotel performance. For the week ending April 19, Tampa-St. Petersburg RevPAR declined 10.5% over the year, with only Phoenix suffering a worse loss at 17%.

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