Groups Push Host Hotels Performance Up
This past quarter has treated one of Phoenix's elite hotel owners very well. Host Hotels & Resorts reports in its latest SEC filing that its four Phoenix hotels—including the Ritz-Carlton Phoenix and the Westin Kierland Resort & Spa—displayed strong performance along with much of the West Coast. “Our Phoenix market also had a strong quarter, with a combination of rate and occupancy growth due to strong weekday group demand, which enabled these hotels to drive a better transient business mix,” officials state in docs. Phoenix Host hotels saw a 9.4% growth in RevPAR (up $138 from $126) and occupancy (up 73.5% from 70%).