Happy Hotels
03/20/2014 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, hotel occupancy rates, housing sales, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist, Revene per room
2014 is looking good for hotels. Occupancy rates are up 2.1% year-over-year to 64%, the average daily rate (ADR) per occupied room rose 4.8% year-over-year to $114.85 and revenue per room (which includes occupied and non-occupied rooms) was up 7.1% year-over-year to $73.52. Over the past 12 months Atlanta, Denver and Dallas experienced the biggest bumps in occupancy rates while Nashville, Atlanta and Denver had the largest increases in ADR.