United Kingdom
United States
Asia Pacific
US hotel industry coming off a record year expects 2008 slowdown
Pre-tax income for the United States hotel industry in 2007 increased 5.3% to a record US$28 billion and the industry posted an all-time best US$139.4 billion in revenues, according to a new study.
That number was over US$6 billion more than the industry generated in 2006 ($133.4 billion)—and for the second consecutive year, gross operating profit as a percentage of revenue came in at 41.3, 2008 Hotel Operating Statistics (HOST) Study issued by Smith Travel Research (STR).
“2007 was another excellent year for the U.S. hotel industry with record revenues and record profits,†said Mark Lomanno, STR’s president. “However, as the American economy slows, we are expecting a tougher operating climate for US hotels in 2008.â€
The HOST Study is the most extensive and definitive database on US hotel industry revenues and expenses. The 2008 version is derived from the operating statements of more than 5,200 hotels.
The HOST Study contains information on hotel revenues and expenses, and presents information by department including rooms, food & beverage, marketing, utility costs, property and maintenance, administrative and general costs, as well as selected fixed charges.
Report by David Wilkening
David
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Dozens fall ill in P&O Cruises ship outbreak