Horwath Hospitality Consulting with the co-sponsorship of the International Hotel Association and Smith Travel Research recently published their Horwath United States Hotel Industry Study 1995. The participation of these three organizations has permitted an unprecedented analysis of worldwide hotel industry data of interest to developers, financiers, investors, bankers, government agencies, the press and the public in general. The publication provides U.S. travel industry highlights, information on full service hotels, limited service hotels, city data for the top 25 markets, sources of business, payment methods, and marketing data.
The report indicates that the United States hotel industry generated an estmated US$66 billion in total revenue, approximately 72% of which came from room sales of more than US$132 million daily. Room occupancy reached 65.2%, the highest level in more than a decade, while the 3.8% increase in the average daily rate to US$63.63, for the first time since 1986, showed that industry-wide room rates rose faster than the Consumer Price Index.
This combination of increasing occupancies and room rates, in conjunction with increasing efficiency, resulted in the most profitable year in the history of the U.S. hotel industry with profits of US$5.5 billion. Therefore, by almost any measure, 1994 was one of the best years that the U.S. hotel companies have experienced since before the building boom that began in the early 1980’s.
The report is available in Santo Domingo via the Horwath representative, Sotero Peralta & Asociados.