John Keeling concedes area hotel occupancy is down
We were amused by this recent appearance in the Chronicle by hospitality consultant/advocate John Keeling:
Houston-area hotel occupancy is expected to fall to 63.9 percent this year, down from 67.9 percent in 2008, according to analyst John Keeling.
The industry is facing a rough year as individual business and meeting travel slows and more hotel rooms are added to the market.
[snip]
Revenue per available room, a key indicator of financial performance, will be off 6.1 percent.
But the market should turn around early next year when demand is expected to exceed the increase in supply, said Keeling, senior vice president of PKF Consulting.
The reporting did not add, ".... at which time, even if there is no rebound, Keeling can be expected to be out shilling for a new Astrodome Hotel, or a new downtown City of Houston hotel venture, or any number of other big hotel boondoggles." But you can just about bet on it!
Posted by Kevin Whited @ 03/08/09 09:56 PM | Print |
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