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Hotel profit picture looks good through 2015
Future profitability of hotels? Revenues should keep going up through 2015 with a rise in occupancy levels leading to higher pricing policies.
So predicts the PKF-HR Hotel Horizon report.
"The steps taken to reduce expenses during 2009 have still been in practice during 2010 and 2011. If these measures are continued, then the combination of increase in ADR and reduced expenses should lead to remarkable growth in profits for the hotel industry," writes Hospitality Portal.
The hotel industry started coming out of the recession in 2010, according to various sources. But it was not until last year that the improvements began to spread industry-wide.
The 2012 PKF Hospitality Research Trends found that profits then increased 12.7%, which was below previous levels.
Revenues have increased in the past few years compared to the recession but "there is still room for much improvement if hotels want to reach earlier profit levels," the site says.
By David Wilkening
David
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