The recent recession cut into Wilmington’s hotel market as demand from financial institutions and other firms weakened; however, new projects, rising room rates, and a strengthening economy in the city and MSA are putting RevPAR on the mend.
New business partnerships, investments in high-tech companies and facilities, and rising hotel demand and average rates point toward a path of growth for Lansing’s economy and hotels.
Wounded by the strikes against the national economy, Portland’s hotel market has suffered since 2008. But the city’s resourcefulness and diverse commercial and government base should help it make the most of an economic recovery.
Downsizing, travel freezes, and facility closings have made the climate bleak for hotels in northern Delaware, but a slowdown in the introduction of new supply should help shore up penetration levels when business activity and demand growth resume.
Research shows that the recession has disproportionately affected occupancy at the older hotels in the Hampton market. With several large-scale developments promising to change the makeup of demand, a need for newer hotels is evident.
A mix of cultural and commercial projects continues to steer businesspeople, tourists, and conventioneers toward Cincinnati, giving area hoteliers some hope in the tough economy.
The recovery of gaming, hotels, and tourism in Biloxi continues following Hurricane Katrina. How will these industries fare in the face of a national economic storm?
As both the capital of Texas and the “Live Music Capital of the World,” Austin has businesses and hotels singing a lively tune despite the current economic dirge.
Business growth is in league with happenings on the hotel front to help forge new promise for this evolving city.
Celebrating its 10th Anniversary, the Vacation Ownership Investment Conference held in Orlando, Florida, from October 6th-9th, presented a rather optimistic outlook of the future of the vacation ownership industry.