Hotel rates have biggest drop since Depression

[n2doc]

Robert Selna, Chronicle Staff Writer

Friday, February 26, 2010

In 2009, hotel room rates in San Francisco and the nation suffered their biggest annual decline since the Great Depression, according to an analysis of recently released data.


San Francisco's daily average room prices fell nearly 16 percent from $190.12 in 2008 to $160.27 in 2009, according to research compiled by PKF Consulting, a hospitality industry research group.

The city's downward trend started in the fourth quarter of 2008 and continued throughout the year. In June, the average room rate was $134, the lowest it had been since 2005. For December, the average rate was even lower, $132.81.

Fewer guests accompanied the lower rates. At 75.5 percent, occupancy in 2009 was down 4.3 percent. In June, occupancy fell to 73 percent; in December it tumbled to 65 percent.



Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/02/26/BU891C79Q5.DTL&tsp=1

[glen123098]

1. Well I guess the recession brings some good news.

Maybe I'll be able to afford to stay in a hotel someday.

[WillParkinson]

2. I work in a hotel in Milwaukee and I can attest to the fact that it hasn't been this bad...

Since 9/11.

[Renew Deal]

3. There's no shortage of tourists in NYC

Maybe tourism is down, but there's still tons of tourists around here.

[customerserviceguy]

4. Yep, out here in suburbia

Restaurant parking lots are often full at mealtimes. Of course, that's only when they aren't full of a foot of snow!

[DemoTex]

5. William Shatner!