Hotel business starting to rebound following terrorist attacks, Cornell research shows
By Linda Myers
Hotel room occupancy is up for the first time since the big drop following the Sept. 11 terrorist attacks.
The Center for Hospitality Research at Cornell University's School of Hotel Administration found that national hotel room occupancy is now rising steadily and was at 64 percent Sept. 22 -- a notable rebound from the 48 percent low of Sept. 17, but still down 17 percent from the same day last year. In addition, hotel room prices across the United States last week were down by more than 25 percent, compared with the same week last year -- making travel a bargain.
"The good news for the hospitality industry is convention business is starting to pick up and confidence is increasing," said Professor Cathy Enz. "And the good news for consumers is there are some great deals on room rates in key destinations throughout the United States." Enz is executive director of the CHR, which compiles weekly research reports on hotel room occupancy and rates throughout the United States in an alliance with Smith Travel Research, the leading supplier of lodging industry tracking and analysis.
"We are seeing a rebound in occupancies; it's slight but up and improving every day," said Enz. In addition, room rates in vacation destinations such as New Orleans, Las Vegas and Orlando, which were low before the attacks, have been slashed even further, she said.
Enz also praised hotel chains for their generosity following the terrorist attacks, exemplified by offers of free food and free lodging to those made homeless by the disaster or helping in the rescue efforts as well as discounted lodging to travelers. She urged people to renew their vacation and travel plans. "Let's help keep these businesses going by getting back to travel," she said.
For statistics on the latest room occupancy and rates across the United States, visit the CHR web site: http://www.hotelschool.cornell.edu/chr/ or contact (607) 255-9780 or (607) 255-4646.
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