Summer traditionally is an annual high point for hoteliers. This year, however, winter could be just as strong, according to hotel consultancy TravelClick, which this week released its August 2014 TravelClick North American Hospitality Review, showing a 3.7 percent increase in committed occupancy and a 4.6 percent increase in average daily rate (ADR) for the next 12 months.
"While summer may be coming to an end, the hotel market has a 'hot outlook' for the winter months," TravelClick Senior Vice President of Global Product Management John Hach said in a statement. "According to TravelClick's data, hotels will continue to see healthy gains in demand and average daily rates across all segments into the New Year."
TravelClick's optimistic forecast is based in large part on a strong third quarter: Overall, U.S. hotels experienced a 4.7 percent, 4.5 percent, and 9.6 percent increase in ADR, reserved occupancy, and revenue per available room (RevPAR), respectively, in the third quarter.
For the group segment, specifically, ADR, reserved occupancy, and RevPAR grew 2.6 percent, 6.5 percent, and 9.4 percent, respectively, during the same period. For the transient business segment, they grew 4.9 percent, 4.8 percent, and 10.2 percent.
"While the summer months are typically known to be a strong leisure segment period, the business segment has also seen positive gains," Hatch continued. "This is indicative of a growing economy and it is a welcomed revenue stream for hoteliers in the U.S."