New Report Predicts 2016 Hospitality Growth

International Hospitality Industry Investment Conference pic
International Hospitality Industry Investment Conference
Image: scps.nyu.edu

Dr. Bharat Lall, an executive with extensive experience in the hospitality management and investment industries, serves as president and chief executive officer of Pinnacle Hotels USA. Prior to establishing himself in hospitality, Dr. Bharat Lall earned his MD from the University of Glasgow.

A report released at the New York University (NYU) International Hospitality Industry Investment Conference indicates that the hotel industry in the United States will grow in a variety of ways for 2016. For instance, the report predicts that the industry will register a nearly half-percent jump in occupancy and a 4 percent jump in the average daily rate. Moreover, the report indicates that revenue per room will rise to just over $82, which represents a nearly 4.5 percent increase.

At the NYU conference, hotel brands expressed how they plan to continue to produce growth in their industry. One hotel brand noted that some millennials will reach 40 years of age soon and hotels can attract customers by understanding and meeting the specific needs of that generation. For example, a hotel representative mentioned that millennials generally prefer access to health clubs over happy hours.

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