With another year gone, many of us are looking towards 2012 and predicting what this new year will bring. From hotels to education to government, we are interested in all of this year’s industry trends and predictions.
Last week, Travel Weekly previewed 2012 for the hospitality industry, after 2011 brought higher hotel demands than expected. Analysts are predicting that 2012 will bring a five percent increase in revenue per available room, but say occupancy growth may continue to decline.
With this trend, hotels will continue to increase their bottom line and should expect to see growth in hotel profits. While this growth might be a decrease from 2011’s numbers, consultancy Pricewaterhouse Coopers, forecasted that 2012 occupancy rates would reach 60 percent for the first time since 2007.
2012 is also expected to bring increased hotel renovations and repairs, as franchisers begin to push hotel owners to spend more money in this area.
Here at The Refinishing Touch, we hope that hotels will continue to grow in both rates and occupancy, since the hospitality industry tends to mirror the performance of the US economy. To read the entire article and predictions visit Travel Weekly, Preview 2012: Hotels.