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In year-over-year measurements, the industry’s occupancy fell 11.2 percent to end the week at 65.8 percent. Average daily rate dropped 9.5 percent to finish the week at CAD$128.25. Revenue per available room for the week decreased 19.7 percent to finish at CAD$84.42.
In year-over-year measurements, the industry’s occupancy fell 8.7 percent to end the week at 65.4 percent. Average daily rate dropped 9.5 percent to finish the week at US$97.49. Revenue per available room for the week decreased 17.4 percent to finish at US$63.74.
Through May, year-over-year numbers indicate the segment’s hotels in small town/metro areas are faring better than those in other locations.
Forecasts indicate that average daily rate declines during the next 24 months in Germany's major cities will be the main cause of sluggish performance, according to the May 2009 Hotel Market Forecast from STR Global.
Estimates on total spending on travel and tourism in 1Q 2009 declined by 5.9 percent over the previous quarter, according to the U.S. Bureau of Economic Analysis.
To read more articles from STR and STR Global click here.