The occupany increases cannot come soon enough for limousine operators who serve a mix of business and luxury travelers.
FROM THE WALL STREET JOURNAL: The long-battered hotel industry is turning the corner as occupancy and revenue in the U.S. finally start to rebound.
But hotel owners can't start partying just yet. Hotel properties remain deeply indebted, with billions of dollars of mortgages coming due in the coming years amid forecasts the industry won't regain its full strength until 2013.
For now, however, hotel owners and operators are focusing on the first good news they have had in two years, which in some cases is coming earlier than industry analysts expected.
Data from Smith Travel Research released earlier this week shows U.S. hotel occupancy rose. . .
HOTEL TURNAROUND ARTICLE
Another example of the turnaround in business travel and luxury hotel occupancy is the 2010 LCT LEADERSHIP SUMMIT, back in September after a two-year hiatus because of the recession. About 200 limousine operators are expected to attend the three-day executive conference and retreat.
Source: The Wall Street Journal