The U.S. lodging industry experienced strong growth in the first half of 2006, according to Smith Travel Research. Over last year, occupancy grew 2.1% to 63.5 percent, average room rate grew 6.8% to $96.56, REVPAR gained 9% to $61.30, and room revenue grew 9.4% to $49 billion. Room supply increased 0.4 percent while demand grew 2.4 percent.
Mark Lommano, President of STR, states, “We anticipate continued RevPar growth in the second half but probably somewhat slower than the 9.0 percent increase we experienced in the first half.”
Read more at Hospitality Net.
