Survey says hotel occupancy rates stabilizing for good
Hotel occupancy rates are finally stabilizing, a soon-to-be public Hyatt Hotels Corp. told potential investors.
The hotel company, which is privately held mainly by the founding Pritzker family and which observers expect will launch its initial public offering soon, said it believes the trend will continue for the remainder of the year.
"However, we expect that there will likely be continued pressure on average room rates," the Chicago company wrote in a document filed with the Securities and Exchange Commission.
The Washington Post said the document went on to say:
"The current economic environment makes it difficult for us to predict future demand for our hospitality products and services."
Competitor Starwood Hotels & Resorts Worldwide Inc., which owns Sheraton hotels, said its third-quarter profit sank 64 percent. But executives there also said occupancy rates were starting to recover.
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 reduced timetable to over 60 destinations
Hands In, UATP join forces for airline multi-card payments
AirlineRatings reveals world's safest airline rankings for 2026
Vietnam warns airlines of possible flight reductions amid jet fuel shortages
Fliggy opens AI-powered travel bookings and developer tools