Profits by resort, convention and full-service hotels are likely to overtake those of hotels in the limited-service segment, according to a recent analysis of historical hotel performance by PKF Hospitality Research. "The recovery for hotels in the upper-midscale, midscale, and economy segments has lagged the upper-tier properties. Lagging [average daily rate] growth, combined with historically low flow-multiples, implies that profits for limited-service hotels will grow, albeit at a slower pace compared to the full-service properties," said Robert Mandelbaum, a director for PKF-HR.

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