Early this week in the Southeast, we saw some strong numbers for the hotel industry. The regional market also witnessed musical chairs, a new firm opening, and plenty of deal flow.
BY THE NUMBERS
US hoteliers enjoyed a seventh consecutive year of increasing profits in 2016 despite a slowdown in the rate of revenue growth. Total operating revenue, driven by a 0.2% rise in occupancy and a 2.5% growth in average daily rate (ADR), increased by 2.4% in 2016 for the average hotel in its survey sample. However, by limiting the growth in operating expenses to just 1.6%, managers at the Trends properties were able to extract a 3.7% increase in gross operating profits for the year. (Source: 2017 edition of Trends in the Hotel Industry by CBRE Hotels' Americas Research)
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