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Hotel Association Report Y2q2
Hotel Association Report Y2q2
SUPPLY
The “hard” opening of the new four star property is scheduled for April 14. The two new select service
renovated hotels remain on track for openings in late June.
DEMAND
While un-constricted demand continues a steady growth pattern, downward pressure on pricing may be on
the horizon.
There is concern that the increased competition in the four star category could drive prices down to where
they begin to blur with the increased prices being realized by refurbished 3 star hotels. In effect, this could
present a three and a half star comp.set offering to guests. The good news is that demand continues to
grow. And the challenging news is that room pricing will need very careful analysis.
Leisure
Weekend demand is expected to maintain a 20% year-on-year increase due to events at the civic center.
Business
Corporate
Tour
Large Group
The effects of the civic center and area hotel refurbishment are definitely having an effect on relatively short
lead time bookings for regional drive in conventions. No less than 5 conventions are booked at the civic
center in the May-June period and these will generate tens of thousands of room nights. This is a promising
development in a segment where lower negotiated rates are often offset by both the size of the room
commitments and incremental income from non-room revenue.
Small Group
Booking Pace