Time for a quick check with one of our favorite blogs on economics, Calculated Risk. For the first time since 2007, weekly hotel occupancy topped 75 percent! It is amazing to follow the CR chart, which shows the median of 2000 to 2007 and compares it with 2009 (the worst year since the great depression) and 2011 and 2012. From Calculated Risk:
This could be the peak weekly occupancy rate for 2012 (the 4-week average will move up some more). Overall occupancy is back to normal, and will probably move higher over the next couple of years since there is limited new supply being built.
Now, if we could only work on getting those average daily rates back!
Source: Calculated Risk