Deloitte Report Shows Hospitality Optimism in 2010

10th February 2010 (Last Updated February 10th, 2010 18:30)

The tourism, hospitality and leisure sectors are beginning to see improvements in trade as the economy begins to rebound and recover, according to a new report Hospitality Vision: US Performance Review. A number of major markets saw increases in occupancy and revenue per available room

The tourism, hospitality and leisure sectors are beginning to see improvements in trade as the economy begins to rebound and recover, according to a new report Hospitality Vision: US Performance Review.

A number of major markets saw increases in occupancy and revenue per available room (revPAR) by December 2009, eclipsing the multi-year, record-breaking declines, according to the report.

The report stated that steep price discounting was used as an important strategy in filling rooms.

Deloitte vice chairman and US leader of tourism, hospitality and leisure Adam Weissenberg said leisure travel has been on the rise as confidence in the economy is restored.

“We should see an uptick in business travel, which is one of the key factors on the road to restoring revPAR to pre-recession levels,” Weissenberg said.

There is revival in domestic tourism activity in select markets, while declines in international travel are lessening and business travel remains mostly stagnant.

“Hospitality Vision: US Performance Review” reviews the ranking of the top-performing US markets and examines key cities with the highest growth in revPAR, average daily rate and occupancy rate.