Effect of oil boom on hotel demand depends on market segment

04/25/2012 | HotelNewsNow.com

An analysis by STR and PKF Hospitality Research on hotel demand growth in oil-rich markets during the recession indicates that upper-priced hotels benefited from the oil boom in these markets, compared with lower-priced properties that failed to post demand growth, this feature says. A breakdown of the data highlights a greater increase in market income in these areas against employment growth. "These findings reinforce the concept that the health of upper-priced and lower-priced hotels is dependent on different economic forces," authors of the analysis concluded.

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