Hotel Online Press Releases
San Francisco, New Orleans, Anaheim-Santa Ana Lead U.S. With Fastest-Rising Hotel Room Rates, Coopers Lybrand's Lodging Research Network Reports
Atlanta, Nashville, Phoenix Have Slowest Rising Rates
NEW YORK, June 24 - San Francisco, New Orleans and the Anaheim-Santa Ana area lead the nation in fastest-rising average daily hotel room rates from the first quarter of 1996 to the first quarter of 1997, according to just-released figures from the Lodging Research Network (www.lodgingresearch.com), the comprehensive, Internet-based resource for lodging industry data and information from Coopers Lybrand L.L.P.
Orlando, New York City, San Diego, Philadelphia, the Los Angeles-Long Beach area, Chicago and the Tampa-St. Petersburg area round out the list of America's ten cities with the fastest-rising average daily hotel room rates, the Lodging Research Network reports.
San Francisco's average daily rate for a hotel room rose from $101.46 in the first quarter of 1996 to $115.97 in the first quarter of 1997, according to the Lodging Research Network (www.lodgingresearch.com). The 14.3 percent rise makes San Francisco the U.S. city with the fastest-rising hotel rates during the period, the Lodging Research Network reports.
New Orleans placed second, according to the Lodging Research Network. The Crescent City's average daily hotel room rates rose from $102.62 in the first quarter of 1996 to $116.47 in the first quarter of 1997, the Lodging Research Network reports: an increase of 13.5 percent during the period.
The Anaheim-Santa Ana area took third place, figures from the Lodging Research Network show. In the Anaheim-Santa Ana area, average daily rates increased from $70.67 in the first quarter of 1996 to $79.68 in the first quarter of 1997, the Lodging Research Network says: a rise of 12.7 percent.
Rounding out the list of the top ten U.S. cities with the fastest- increasing average daily hotel room rates are Orlando, up 11.6 percent from $78.18 to $87.28; New York City, up 11.4 percent from $137.25 to $152.87; San Diego, up 10.4 percent from $76.27 to $84.17; Philadelphia, up 9.7 percent from $78.89 to $86.52; the Los Angeles-Long Beach area, up 8.9 percent from $76.70 to $83.50; Chicago, up 8.3 percent from $83.93 to $90.91 and the Tampa- St. Petersburg area, up 8.1 percent from $74.40 to $80.43.
All comparisons are of average daily hotel room rates in the first quarter of 1996 versus the first quarter of 1997.
The cities with the slowest-rising average daily hotel room rates were Atlanta, up only 1.3 percent from $77.66 to $78.64; Nashville, up 2.4 percent from $63.63 to $65.18 and Phoenix, up 2.5 percent from $122.27 to $125.27 from the first quarter of 1996 to the first quarter of 1997.
Coopers Lybrand's Lodging Research Network makes available via the Internet Coopers Lybrand's renowned econometric forecasts for the lodging industry, breaking lodging industry news, an exclusive database of lodging industry real estate acquisitions, financial data of publicly traded lodging companies (including SEC filings), new hotel construction data, lodging census data from Smith Travel Research as well as an extensive research library that includes U.S. economic and demographic statistics. For more information about the Lodging Research Network, call toll-free 1-888-576-6656. One of the world's leading professional services firms, Coopers Lybrand L.L.P. provides services for enterprises in a wide range of industries. The firm offers its clients the expertise of more than 16,000 professionals and staff in offices located in 100 U.S. cities and, through the global network of Coopers Lybrand International, more than 74,000 people in 142 countries worldwide.
Contact: Adam Brecht of Coopers & Lybrand, 212-259-5996, Adam.Brecht@us.coopers.com