Economy

February 19, 2012 (By Robert Mandelbaum) According to Smith Travel Research, group demand (measured as a percent of total demand) began to grow year-over-year in March of 2010.  Since then, the group occupancy rate has steadily increased, but has yet to reach the pre-recession levels observed in 2007 and 2008.  While greater numbers of conventioneers may be seen roaming the lobbies, pre-function space, and banquet halls of U.S.

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LAS VEGAS--(www.hospitalitybusinessnews.com)--The Las Vegas Convention and Visitors Authority (LVCVA) announced today that the destination attracted 38.9 million visitors in 2011, the second highest visitor total in history

“The numbers reflect the strength of our brand, as Las Vegas remains top of mind among travelers,” said Rossi Ralenkotter, president/CEO of the LVCVA. “The commitment of our resort partners to continue to invest in their properties allows Las Vegas to remain the premier travel destination in the world.”

Washington, D.C. (www.hospitalitybusinessnews.com) Fueled by solid same-store sales and traffic results and a bullish outlook among restaurant operators, the National Restaurant Association’s Restaurant Performance Index (RPI) rose sharply in December.  The RPI – a monthly composite index that tracks the health of and outlook for the U.S.

Atlanta Janaury 25, 2012 (by Robert Mandelbaum ) Coming out of lodging industry recessions, we have historically observed fairly significant increases in hotel operating expenses.  Since the initial revenue recovery is typically driven by occupancy, variable expenses naturally rise with the increased volume of rooms occupied and guests served.  In addition, hotel managers desire to reinstate the services and amenities that were discontinued during the downturn contributes to above-average expense growth.

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(www.hospitalitybusinessnews.com) Dubai hotels reported strong growth in Average Room Rate (ARR) during the month of November 2011 resulting in a knock-on effect on the Revenue per Available Room (RevPAR) and Gross Operating Profit per Available Room (GOPPAR) levels for the month, according to the latest Hot-Stats survey of full-service hotels in six regional cities by TRI Hospitality Consulting.

Washington, D.C. (www.hospitalitybusinessnews.com) Driven by positive same-store sales and an increasingly optimistic outlook among restaurant operators, the National Restaurant Association’s Restaurant Performance Index (RPI) rose to its highest level in five months. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 100.6 in November, up 0.6 percent from October.

December 13, 2011, Atlanta, GA – (www.hospitalitybusinessnews.com) While many hoteliers are feeling angst and uncertainty caused by intimidating macroeconomic conditions, PKF Hospitality Research (PKF-HR) is assertively forecasting the continued recovery of the U.S. lodging industry.  How well you do in 2012, however, will vary depending upon the price of your room and where you are located.  According to the recently released December 2011 edition of Hotel Horizons®, PKF-HR forecasts that rooms revenue (RevPAR) for U.S.