One of the most important things hotel owners/franchisees need to know is their market. Specifically, how it is performing as a whole in regard to ADR, occupancy and total RevPAR. Are they getting their fair share? What are the opportunities to expand or grow business?
For prospective hoteliers, seeking to, perhaps, open a new hotel or acquire an existing property, it’s equally vital to understand the fluidity of the market in question.
Two of the best tools for doing so are STR and Lodging Econometrics data.
Hotel Management has started a series of market snapshots, honing in on a particular U.S. city to see what is going on. Today: Portland, Ore.