Monday, November 2, 2015

Hotels Are Going Up

Even though it's been a year when the overall economy has not been especially impressive, there are industries that still shine through. Case in point: The American hospitality business, which is headed for its best year ever.

The year-to-date occupancy rate for hotels is at 67.7 percent, which is up from 66.6 percent in 2014. The best year in history for this figure was 2000, when it was at 67.1 percent for the entire year, before 9/11 and the recession helped to depress it for over a decade.

Investors have noticed this growth. According to the latest GDP figures from the Commerce Department, investments in lodging - new hotels and the like - are up 39 percent  this year.

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