Report says Albuquerque hotels a bargain this summer
New Mexico Business Weekly - 2:18 PM MDT Wednesday
Albuquerque will have some of the lowest hotel rates in the nation this summer, according to a report by PKF Hospitality Research.
The average room rate in Albuquerque will be about $67.95, according to the summer edition of Hotel Outlook by PKF and Torto Wheaton Research. This puts the Duke City behind markets such as Tucson, Ariz. and Columbus and Dayton, Ohio. New York will have the highest average room rate at $200.28, followed by Honolulu and San Francisco.
Overall across the country, hotel rooms will be harder to find compared to last year and travelers will pay more for these rooms, according to the report.
"Given the increasingly sophisticated yield management practices within the hotel industry, the high occupancy rates are enabling managers to more aggressively quote the highest room rates," said Mark Woodworth, president of PKF, based in Atlanta. That's good news for hotel owners, but not consumers, he added.
Despite high gas prices, people will continue to travel, he added. But they will seek out more economical accommodations. Thus the report forecasts a rise in revenue per available room (RevPAR) in limited-service hotels and a bigger rise in occupancy rates for those properties than for full-service properties.
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