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Pinnacle Advisory Group pinnacle-advisory

Pinnacle Advisory Group pinnacle-advisory

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Pinnacle Advisory Group pinnacle-advisory

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  1. 76 Canal Street, Boston, MA. 02114 ~(617) 722-9916 238 South State Street, Newtown, PA 18940 ~ (215) 579-1804 Pinnacle Advisory Group www.pinnacle-advisory.com

  2. New England Historic Perspective 1995 – 2000 Record Years for the Lodging Market

  3. New England Occupancy1995 - 2000 Source: PAG and STR

  4. New England Average Daily Rate1995 - 2000 Source: PAG and STR

  5. New England REVPar 1995 - 2000 • 1995 - $47.37 • 1996 - $51.33 • 1997 - $56.04 • 1998 - $58.65 • 1999 - $63.35 • 2000 - $70.32 Source: PAG and STR

  6. Occupancy by State 1996 - 2000 75% 70% 65% 60% 55% 1996 1997 1998 1999 2000 - MA. - VT. - R.I. - CT. - N.H. - ME. Source: PAG and STR

  7. Average Daily Rate by State 1996 - 2000 Source: PAG and STR

  8. REVPar by State 1996 - 2000 Source: PAG and STR

  9. Innkeepers Occupancy Rate 1999-2000 19992000 • Connecticut 65.7% 66.7% • Maine 59.4% 62.1% • Massachusetts 64.0% 66.4% • New Hampshire 44.6% 45.5% • Rhode Island 66% 63.1% • Vermont 61.3% 58.9% Source: PAG and STR

  10. Innkeepers Average Daily Rate1999 - 2000 1999 2000 Connecticut $83.39 $85.56 Maine $136.32 $136.44 Massachusetts $100.03 $136.44 New Hampshire $111.72 $119.95 Rhode Island $152.95 $173.83 Vermont $153.18 $163.56 Source: PAG and STR

  11. 2001 ~ The Industry’s Downturn • Pre September 11: Economy slowed and recession neared • Post September 11: Terrorist attacks accelerate recession

  12. Y-T-D July 2001 Occupancy by State 2001 2000 • Connecticut 64.5% 66.7% • Rhode Island 65.4% 71.8% • Massachusetts 63.8% 68.3% • Vermont 56.5% 57.5% • New Hampshire 59.0% 59.0% • Maine 56.1% 57.1% Source: PAG and STR

  13. Y-T-D July 2001Average Daily Rate by State Source: PAG and STR

  14. Y-T-D July 2001New England Regional Occupancy Source: PAG and STR

  15. Y-T-D July 2001New England RegionalAverage Daily Rate Source: PAG and STR

  16. 2001 & 2002 ForecastNew England Lodging @ $105 @ $103 Source: PAG and STR

  17. What Does This Mean To You? • Hardest hit – hotels that cater to conventions, corporate travel, & airport locations. • Hardest hit – destination resorts that require air travel (ie. Hawaii). • Hardest hit – markets with an oversupply of hotels.

  18. ~ Plan of Recovery ~ • Marketing – focus on regional travel to build occupancy • Room Rates – don’t be quick to drop rate; monitor competition closely; entice travelers with packages • Product – prioritize capital spending; only do what’s necessary • Bottom Line – make expense cuts; but not at the expense of losing business • Stay on top of issues – work with various agencies; know about airline discounts; speak with area attractions and other demand generators

  19. 76 Canal Street, Boston, MA. 02114 ~(617) 722-9916 238 South State Street, Newtown, PA 18940 ~ (215) 579-1804 Pinnacle Advisory Group www.pinnacle-advisory.com