Despite a slow start to 2013 bookings, the hotel industry is coming to a strong finish for the year and should see improvement in 2014, according to recent analysis.
In the final three months of this year, hotel occupancy rates are expected to be up by 4 percent, with revenue per available room gaining 6.5 percent, according to TravelClick, a company that facilitates online room reservations.
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Based on data available so far, hotel occupancy in the first three months of 2014 is projected to rise by more that 10 percent, according to TravelClick.
For the 12 months ending October 2014, hotel occupancy is expected to be up about 8.4 percent from the prior-year period, according to TravelClick’s data.
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TravelClick said bases its forecasts on bookings made by leisure and travelers as well as group bookings for meetings and conventions. Those group bookings are often made more than a year in advance, offering some insight into the year ahead, according to the company.
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- Travel & Tourism
- Travel Accommodations