LaSalle Q2 RevPAR Increases 3.8%
Friday July 20th, 2012 - 12:10AM
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
BETHESDA, MD–LaSalle Hotel Properties second quarter 2012 RevPAR increased 3.8%, compared to the same period last year.
ADR increased 5.8% during the quarter, while occupancy fell 2% to 83.4%. The REIT's RevPAR was impacted by renovations at Hotel Roger Williams in New York and Le Montrose Suite Hotel in West Hollywood and management transitions at the Donovan House in Washington, DC, and Hotel Sax Chicago.
LaSalle owns interests in 40 hotels of which 38 are wholly owned.
Tags: Hospitality Quarterly Results
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.