Hotel profits on the upswing
A resurgence in bookings and check-in traffic at US hotels last year translated into profits for the first time in three years, according to a new research report.
Hotel profit growth was in the 14% to 16% range, says PKF Hospitality Research Consulting.
The typical US Hotel saw profits rise 11.4% last year over 2003.
“In general, it appears that the larger hotels with higher room rates experienced the greatest increases in profitability during 2004,” said R. Mark Woodworth, executive managing director of the Atlanta-based PKF.
But those properties were also among the hardest hit during the 2001-2003 recession, he added.
Resort hotels had the greatest profitability increase last year, growing by 17.2%.
Revenues from sources other than rooms also grew across the board with the exception of telecommunications, which fell almost 10% in 2004.
PKF’s 2005 “Trends in the Hotel Industry” report took into account more than 5,000 US hotels.
Report by David Wilkening
David
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Phocuswright reveals the world's largest travel markets in volume in 2025
Airlines suspend Madagascar services following unrest and army revolt
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Skyscanner reveals major travel trends 2026 at ITB Asia