Center Trends Report Sees Turnaround
|Philadelphia. May 24, 2004 - PKF Consulting and the
International Association of Conference Centers (IACC) forecast growth
in occupancy and RevPAR for North American Conference Centers through 2004
and into 2005. The findings are contained in the 2004 North American
edition of the recently released Trends in the Conference Center Industry,
a Statistical and Financial Profile for 2003, produced by PKF Consulting
and the IACC.
"The level of booking activity for most markets in the fourth quarter of 2003 was substantially greater than in the prior year and greater than in any other quarter of the year, and early returns for 2004 indicate that this increased level of activity is being sustained," according to PKF Consulting Executive Vice President David E. Arnold, who oversaw the study.
The 80-page Conference Center Trends report deals with both residential and non-residential centers Sections within the report cover rates, occupancy, market segmentation, human resources, sales and marketing, and measures of meeting space utilization. The report presents revenue and expense details for each of the four major center types: executive, corporate, resort, and university conference centers.
In his introduction to the report, Arnold makes a number of key points about the current state of the conference center industry, among them
Copies of the IACC/PKF Consulting Trends in the Conference Center Industry, a Statistical and Financial Profile for 2003 can be obtained by contacting Claude Vargo (404) 842-1150 ext. 237, or [email protected]. Cost is $300 for IACC members, $350 for non-members.
PKF Consulting is an international consulting and real estate firm specializing in the hospitality industry. PKF Consulting affiliates are the Hospitality Research Group and the PKF Capital Markets Group. The firm has offices in New York, Boston, Philadelphia, Washington DC, Atlanta, Houston, Dallas, Los Angeles, and San Francisco.
David E. Arnold
|Also See:||Hotel Appraisals Becoming More Difficult in Face of Demands to Value Intangible Assets / Lawrence E. Henry, MAI / May 2004|
|2003 U.S. Hotel Profit Loss To Be Reversed in 2004; Expense Creep and Control Influence Profitability / May 2004|
|PKF Consulting/HRG Survey Forecasts Banner Year for Hotel Transactions; Investors Favoring the Full-service Segment / May 2004|
|Hotel Utility Costs; Surge Protection Is Needed / PKF Consulting / March 2004|
|Managing Hotel Labor Costs / PKF Consulting / February 2004|
|Demand in the Full-service Hotel Sector is Expected to Increase by 6.3% in 2004; Best and Worst Hotel Markets in Terms of RevPAR Growth / PKF Consulting / January 2004|
|First Uptick for Hotel Industry in Three Years; Full-Service Hotels Lead the Way In U.S. Hotel Profits for 2004 / Hospitality Research Group / March 2004|