The National Hospitality Industry

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양식의 맨 위

THE NATIONAL HOSPITALITY INDUSTRY - TRENDS AND FORECASTS

National tourism industry sales grew at an annual rate of 3.5 percent last year in the first rise in over three years, the Department of Economic Analysis has reported.

Tourism sales grew in all four quarters, with a third-quarter increase of 17.7 percent and a 2.2 percent increase in the fourth quarter.

Direct tourism-related air transportation sales increased $2.7 billion, following declines of $15.7 billion and $9.8 billion in the previous two years.

Direct tourism-related sales of eating and drinking establishments recorded steady growth for a third consecutive year, increasing $4.4 billion after growing $2.1 billion and $3.0 billion in in the previous two years,

Sales in the two industries accounted for 56.9 percent of the increase in total direct tourism-related sales, which grew from $374.7 billion to $387.3 billion.

However, sales in another major tourism industry, hotels and lodging, were virtually flat for a second consecutive year, decreasing $0.1 billion after increasing only $0.5 billion the previous year.

Full year industry occupancy was 59.2 percent, up 0.2 percent versus the previous year. Average room rate declined 0.1 percent to $83.28 and revenue per available room (REVPAR) increased 0.2 percent to $49.34. Industry room supply increased 1.3 percent last year while demand (roomnights sold) gained 1.6 percent. Full year room revenue increased 1.5 percent to $79.9 billion.

In the fourth quarter, industry occupancy reached 55.2 percent, an increase of 2.8 percent versus fourth quarter the previous year. Average room rate was $82.48 in the quarter, a gain of 0.8 percent and revenue per available room improved by 3.6 percent. However, after three years of industry-wide contraction, forecasts lodging demand is forecast to increase 4.5 percent in the current year, and lodging industry supply will grow 1.4 percent during the same...