As flood effect wanes, Nashville hotel profits sink

07/2/2010 | American City Business Journals

Nashville, Tenn., hotels saw revenue per available room plummet by 11.7% last week to $52.93, representing the only city in the top 25 hotel markets to see double-digit declines in revpar. While average daily room rates increased around the country by 1.1%, rates in Nashville declined 12.5% as the wave of flood victims and contractors that filled hotels during the city's devastating floods during May began to subside. Officials say the closure of the Opryland Hotel, heavily damaged in the floods, likely contributed to the declines.

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