Phoenix hotel revenue to take 27% hit - San Francisco Business Times:

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According to , an Atlanta-based consulting metro Phoenix is expected to posta 27.2 percentr decline in revenue per available room this year compared to The national decline in “revpar” is expectedd to hit 17.5 percent, the group estimates in its 2009 Hote l Horizons forecast report. “Ih 2009, Phoenix hotels are projected to achieve an occupancy levelof 52.3 percent, down from the 59.6 percenyt mark achieved in 2008. Given the increase in the competitivee nature of the local average daily room rates are expected to fallfrom $127.323 in 2008 to $105.51 in 2009, a declinre of 17.
1 percent,” said Jeff of PKF’s Los Angeles Analysts attribute the decline in Phoenix occupancyu to a combination of the 6.4 percent fall off in the demand for lodgingb accommodations and a 6.6 percent increasre in the supply of new hotel rooms. Numbers are expected to rebounxd in the third quarterrof 2010, according to PKF.