Here’s a prescription for keeping hotel rates up: Be in locations where oil and gas remain strong industries.
That’s what led Houston and Ottawa to become the only cities worldwide where hotel rates rose last year, according to travel management company HRG.
Houston experienced a seven percent increase in local currency, while Ottawa was up three percent.
HRG said some of the largest drops were in cities in North America, with New York and Chicago both down 23 percent to $319 and $205, respectively.
“However, HRG did observe a recovery in New York in the fourth quarter owing to the revival of the financial services sector,” the report said.
HRG reported that rates started to improve in several major cities in the fourth quarter of 2009, albeit in comparison with fourth-quarter 2008, the first quarter to show a slump in most destinations.
By David Wilkening
