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U.S. Lodging Occupancy for Summer 2004
to be Highest Since 2000
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NEW YORK, April 19, 2004 – According to PricewaterhouseCoopers analysis, Memorial Day weekend through Labor Day weekend U.S. lodging occupancy will be 69.1 percent, this is the highest since 2000, when occupancy reached 72.1 percent, and is a two percent increase from last summer when occupancy reached 67.7 percent.

Memorial Day weekend occupancy is forecast to achieve 72 percent, the highest since 2000 when occupancy reached 73.4 percent, according to Smith Travel Research historical data. Fourth of July occupancy is expected to be similar to 2002, but above 2003 at 67 percent. Labor Day occupancy will be similar to 2001 and 2003 at 69 percent.

“The summer occupancy levels are great news for the industry, as occupancy will recover to 2000 levels when the industry had one of its strongest years ever,” said Bjorn Hanson, Ph.D., global industry leader, PricewaterhouseCoopers Hospitality & Leisure Practice. “Although gasoline prices are at a record high, and expected to increase further before the commencement of the unofficial summer travel season that begins Memorial weekend, we estimate that lodging occupancy will be suppressed by only about one quarter to one half of an occupancy point.”


 
Contact:
PricewaterhouseCoopers
www.pwc.com

 
Also See: PricewaterhouseCoopers Estimates the Net Internet Effect on the US Lodging Industry in 2003 as a Minus $1.27 billion; 75% of Online Reservations in 2003 Made by 'Discount Seekers' / April 2004
Dramatic Increases in U.S. Lodging Industry IPOs, Equity Offerings and M&A Activity Will Occur in 2004 / March 2004


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