GET A ROOM

Perhaps those two people you saw necking on a park bench actually heeded your advice. Demand for US hotel rooms will increase 4.9% this year, while the average daily room rate will rise only 2.4%, according to PKF Hospitality Research's latest crunching. The lodging industry recovery continues the pattern (started in Q1 last year) of occupancy gains outpacing room rates.
But it’s time to watch the economy, as energy prices and biz travel will predict where the hospitality market’s headed, says Greenberg Traurig real estate chair Stephen Rabinowitz, who's moderatingBisnow’s NY Hospitality Investment Summit July 27. Since energy prices are going down and business travel is picking up, he’s optimistic. Most of the work that has crossed his desk in the past two years has been hospitality deals, including Pebblebrook Hotel Trust and Denihan Hospitality Group’s JV agreement in which Pebblebrook will invest in six Manhattan hotels owned by Denihan (including the Affinia Shelburne, above). Unemployment is another econometric affecting the sector, both hurting (projections of rate growth diminished) and helping (stemming the rise in labor costs of US hotels), PKF says. Will our star panelists agree? Join us at The Roosevelt to hear the latest insights and schmooze with your industry cohorts. Just added: RLJ Lodging Trust’s Jeffrey Dauray.Sign up here!

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