Detroit Expected To Lead Nation in Hotel Occupancy Rate Growth
The recent report by TravelClick.com has predicted Detroit to lead the nation in travel growth based on occupancy rates over the next 12 months. The projection is that Motown and surrounding regions will see a 22 percent increase in occupancy rates between now and Sepember 30 2012.
“While there is much uncertainty regarding where the overall economy is headed, hotel industry performance over the remainder of 2011 and heading into 2012 continues to look strong,” said Tim Hart, TravelClick executive vice president of business intelligence in its new analysis of future hotel bookings.
According to TravelClick, Detroit’s occupancy rate in the first quarter of 2012 is expected to be 26.3 percent.
Thomas Conran, principal of Greenwood Hospitality Group, owner of The Henry hotel in Dearborn, told USA Today that Detroit is “well ahead of the curve from a national improvement standpoint.”
Oct. 28, USA Today: Finally, Conran says, the Detroit area is seeing “significant” year-over-year gains in business travel thanks to the recovering auto industry.
“We can’t underestimate the fact that the health of the auto industry has improved dramatically,” Conran says.
Data for the TravelClick report is collected in 25 major North American Markets, representing 202 million annual room nights and $27 billion in annual room revenue.
Excellent news for our investors in Detroit Property !
