last week detailed its growth plan to add 85,000 to 100,000 hotel rooms worldwide within the next three years. Overall, this plan represents a 5% -6% compound growth annually, and the growth will focus strongly on international properties.
Marriott expects to add more than 30,000 new hotel rooms outside of North America by 2009, which would be an increase of more than 30 percent.
Additionally, as much as 60% of additions to Marriott’s full-service brands will come outside of the United States, which it currently reports at less than 1 percent.
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After three consecutive years of strong increase in occupancy, U.S. travelers should find major city hotel lobbies a little less crowded in 2007.
While the number of hotel rooms occupied will continue to grow at a 1.4% pace, the number of new accommodations is projected to increase by 2% in 2007. The net result is a forecast of a slight 0.6% decline in occupancy for the nation’s largest lodging markets.
Hotels are approaching the peak of the current business cycle,
according to R. Mark Woodworth, president of Atlanta-based PKF Hospitality Research (PKD-HR). A slight slowdown is likely, although the hotel industry is still expected to see continued growth in revenue and profits.
The average occupancy rate is still projected to be a healthy 68% in 2007, which is still well above the long-term average of 66.4%. That means that travelers could still have some trouble booking hotels in certain markets.
Woodworth said that 24 of the 52 cities PKF tracks will see an increase in occupancy in the coming year.
XM Satellite Radio
is back in the National Car Rental fleet at no charge! The service is available on various models within the midsize, full size, premium, luxury, mini-van and SUV car classes.
XM is America´s number one satellite radio service. The 2006 lineup includes more than 170 digital channels, including music, sports, talk, comedy, children’s and entertainment programming.