Summer Travel Season Heating Up For Record Room Sales

PriceWaterhouseCoopers is predicting a record breaking number of room nights sold this summer, more than last year’s record of 3.136 million. It is estimated to grow at 2.9%. Here’s why.

• Even with the rising cost of gas, the industry has been able to push rates as occupancy continues to climb. Said Marr: “We are seeing very strong industry fundamentals across all industry segments. Commercial, leisure and group business is all up.”
•  A resilient economy which remains strong even with the looming threat of terrorism and the nagging concern that hurricanes are becoming more powerful.The Conference Board Consumer Confidence Index improved during June and now stands at 105.7, up from 104.7 last month.

Some markets are better positioned this summer than others. In a report issued last week by Priceline.com this summer’s busiest destinations with soaring room prices will be Boston, San Francisco, Los Angeles, Seattle and New York City.

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Source: Hotel Interactive