August 2010
Rentals and Staging

In This Issue:

Cost-Savings Tips for Meeting Planners
Gulf Coast Travel Industry Soaked by Oil Spill
Hotels See Increased Business Activity
Denver Meeting and Events Industry - Upcoming Events
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Hotels See Increased Business Activity

At the onset of the recession, hotels were among the first to take a hit. Personal and corporate travel budgets were slashed, resulting in hotel room demand declining 8.9 percent during the first six months of 2009.

There is finally some good news for the travel industry. SmithTravel Research (STR) recently reported that hotel business increased dramatically in the second quarter from last year. The report revealed that room demand for U.S. hotels increased 8.7 percent during the second quarter from 2009, which is the largest quarterly increase since the report originated in 1987. Of course, it wasn’t hard to beat 2009 numbers since they were dismal, but this is still a positive sign.

There are several bright spots for hotels during the first six months of this year, including that occupancy rates rose 4.4 percent from last year, and RevPAR (revenue per available room) increased 2.3 percent from last year. Industry experts expect this trend to continue for the rest of the year. The bad news is that room rates did decline, although there are signs that they are stabilizing.

This is good news for the meeting industry, since it is an indication that people are traveling again.

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Dan Carrese
Director of Sales
Rental and Staging
Image Audiovisuals, Inc.
2130 S. Dahlia Street
Denver, CO 80222
303-758-1818
dcarrese@imageav.com

Scott Collinsworth
Director of Sales
Colorado Convention Center
Image Audiovisuals, Inc.
700 14th Street
Denver, CO 80202
303-228-8047
scollinsworth@imageav.com

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