PKF Hospitality Research predicts a 7.8 percent drop in RevPAR (revenue per available room) in 2009—the fifth-largest annual decline since 1930—with a year-over-year quarterly increase not anticipated until the second quarter of 2010.
Additionally, the RevPAR decline of 1.1 percent registered in the third quarter of 2008 marks the longest stretch of falling revenues endured by U.S. hotels since fellow hospitality industry research firm Smith Travel Research began tracking performance data in the late 1980s.
