A very short, but succinct article highlights the ongoing momentum of the hotel industry, which understandably, currently follows a demand oriented pricing/perks model.
2014 Hotel Occupancy finished at an 18 year high
Room rates and Revenue Per Available Room (Revpar) was in the strongest position since 1987
2015 Hotel Occupancy will continue to increase
Room Rates (2015 average of $121) will rise another 5%
Revpar will rise another 6%
Not in the article, but fun facts we all love to know and tell: Marriott has over 45 million Rewards members and growing (Hilton over 40 million); is a financial leader in the hotel sector setting earnings, revenue, revpar, and stock price records (strategy changes unlikely ).
As that famous hotel guest Bette Davis predicted over a half a century ago, any elites expecting increased benefits,
better, "Fasten your seatbelts, it's going to be a bumpy night"
Keep on keepin' on Insiders - we're the best shot we've got
Airlines don't want to share the good fortune of lower fuel prices with passengers. Funny how when fuel prices go up, passing along the costs doesn't seem to bother them.
I suppose we shouldn't expect the hotel industry to share their good fortune either. We'll have to keep watching this site for bargains and suggestions on how to get the most out of our travel dollars.
totally agree and heard one senior exec say we don't want to drop prices and then have to raise them if prices go back up. As I stated in another article with cost going down an upstart will emerge as they usually do or one of the smaller players will expand to existing markets with lower prices and the big guys will follow. By the way this is one big negative on consolidation a true oligopoly.
Thanks for sharing. No doubt deals will become ever more important. The question is how long can the good times last?
I think we are seeing some of that already with low cost carrier Frontier airlines. They have expanded in the last year and have placed an order for new planes: ( Frontier Airlines orders nine airbus A321ceo aircraft| Reuters). I have also seen some of the legacy carriers announce new routes in the last month which are routes where they will be competing with another legacy carrier which hopefully will drive prices down.
I just stumbled across this . . . a piece (though unsure of the reliability of the source) that actually predicts competition in the airline industry is in trouble in the coming year. Even more important for leisure travelers to grab the deals when they can!