The economy may be down but it isn’t out. The Sun Sentinel is reporting that winter hotel occupancy at South Florida beach hotels was better than expected. Here are some excerpt from that piece:
Numbers released Wednesday by Smith Travel Research detail the improvements for South Florida hotels in the first quarter. Overall, hotels in Broward County saw revenues per room rise about 6 percent and in Palm Beach County about 3 percent from a year ago.
Occupancy rose about 7 percent in Broward and 11 percent in Palm Beach counties, while average room rates declined slightly in the period, the research group said.
Analysts cite several reasons why hospitality fared better this winter than forecast even in late 2009: a rebound in U.S. economic growth, a slowdown in job losses nationwide, gains on Wall Street and South Florida’s hosting of the Pro Bowl and Super Bowl football games in January and February.
“There was a period last year when people were uncertain, even if they had money set aside for travel. They weren’t sure what would happen in the near term with their employment and money in the bank,” said Bill Cunningham, general manager of the Courtyard by Marriott Fort Lauderdale Beach hotel. “Times are still difficult, but it’s stabilized. People feel that they can predict their financial future a little bit better, so they are starting to spend that travel money.”
Cunningham’s 261-room Courtyard hotel posted a 15 percent gain in revenues per room in the first quarter, with both occupancy and rates up from last year. Rooms fetched about $175 night, considered mid-range on the beachfront that has gone increasingly upscale. Some of the hotel’s 80 employees chose to work overtime hours this winter, an option unavailable in slower times last year, he said.
