Weekly Lodging Report Indicates Continued Strong Performance Despite Media Reports
The mass media is full of reports about soaring gas prices and how this will effect the public’s driving habits. As we scan the travel stories we often see speculation that vacationers will change their plans because of gas price increases. However, this speculation has not yet been borne out by the facts.
In Smith Travel Research’s Weekly Lodging Report for the week ending May 6, the lodging industry continues to enjoy a banner year. Compared with the same week a year ago, occupancy rates are up 6.2%, average daily rates (ADR) are up 8.5%, and revenue per available room (RevPAR) is up 15.2 %. While this data refers to hotels, it is very good news for the entire lodging industry, including vacation rentals.
