With travel demand continuing to grow, the nation's hotels are expected to raise rates an average of 3.6 percent in 2012, according to a study based on future bookings.
The projected growth in demand, up three percent over last year, in addition to the higher rates represent the latest sign that the travel and hospitality industries continue to recover from the economic meltdown of 2009 and 2010, according to the study by TravelClick, a company that provides booking software and business data for major hotel chains worldwide. Much of the rebound in the hotel industry comes from the resurgence of business travel.
Over the next 12 months, the demand will be highest in such cities as Detroit, Indianapolis, Houston, Miami and Charlotte, N.C., according to TravelClick. The rates in those cities are expected to climb between three to five percent. In California, demand will grow by about five percent in both Los Angeles and San Diego and nearly four percent in San Francisco.
Meanwhile, the average daily rates are expected to jump nearly two percent in Los Angeles, one percent in San Diego and a whopping 11 percent in San Francisco.
Courtesy of the Los Angeles Times
