NATIONAL REPORT- This year appears poised to be a good one for travel, which means it will be a good year for hotels and the companies that operate them. Hotel Management turned to management companies for their take on 2015. From what executives told us, the year is shaping up nicely.
With more discretionary income, travelers have a greater range of options for where to go and what to do-and with increased demand for room nights, hotels can charge more for their services. With increased revenue, hotel developers are also looking to expand, and are able to secure better loan terms from lenders.
In terms of hotels seeing significant rate changes, Rolf Tweeten, chairman of the board at Alliance Hospitality, noted that many hotels-both branded and independent-lowered rates during the economic downturn, driving growth now that the economy is more stable