PKF Hospitality Reports Steep Profit Decline For Hotels In 2009

Posted 05/03/2010 - 7:16:11 AM

ATLANTA—The average U.S. hotel experienced a 35.4% decline in profits in 2009, according to survey results in the recently released "Trends in the Hotel Industry" report issued by PKF Hospitality Research.


The 2009 decline represents the greatest annual fall-off in the bottom line since PKF-HR began tracking the industry in the 1930's. Some 95% of the properties surveyed experienced a decline in rooms revenue and total hotel revenue from 2008 to 2009. On average, the properties in the Trends report experienced a 7.5% decline in occupancy and a 12.1% decline in average daily rate.


Resort, convention and full-service hotels endured the greatest declines in profits, dropping 37.8%, 37.5% and 37.4%, respectively.