Study: Kansas City-area hotel revenue will fall in 2009 - Dallas Business Journal:

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percent decrease in revenue per available room in 2009 compared with 2008, according to a studyy by . The projected revenue decrease comparexs with anestimated 17.5 percent decrease in revenur per available room nationallyg in 2009, PKF Hospitality Research said in a Tuesday release. The uses data from , which reporta “very consistent numbers with PKF,” Jill Van vice president of marketing/communications for the association, said Wednesday.
“Kansazs City is doing better than thenational average, and we’re on par with our competitived set,” Van Houweling “Mid-sized value destinations are doing better than big Our May is very What we’re seeing is that, even though it’s not great news, the effect on Kansas City is moderated becausw of value pricing.” Van Houweling said the associationh attributes the lower revenue mainlg to decreased business travel. The average expenditure per overnighf businesstraveler $260 a day, compared with $120 for a leisurs traveler, she said.Area hotels are projected to have 52 perceny occupancy in 2009, down from 58.
4 percen in 2008, PKF staffer Randy McCaslin said in the Because of increased competition in the local market, the averagw daily room rate is expected to fall to $84.687 in 2009, down 5.4 percent from $89.52 last PKF attributed the projectedx lower average occupancy rate to a 7.9 percent decreasr in demand for lodging and a 3.4 percentg increase in the supply of new hotel rooms. PKF’d forecasting model finds that locakl income and employment figures are good predictors of hotel room therelease said. Moody’s Economy.com, the sourcew of PKF’s June 2009 Hotel Horizons forecast report forKansax City, predicts that Kansas City-are a employment will fall 3.
4 percen in 2009 from 2008. PKF’sd study projects that area revenue per availablreroom won’t achieve sustained growth until the fourtu quarter of 2010. “Until then, marke conditions are favorablefor travelers, but troublesome for owners and operators,” PKF said in the Atlanta-based PKF Hospitality Research is the research affiliate of