{"id":1004051580,"date":"2011-12-09T12:07:22","date_gmt":"2011-12-09T20:07:22","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=27311"},"modified":"2022-12-05T11:11:07","modified_gmt":"2022-12-05T19:11:07","slug":"increase-in-hotel-occupancy-strengthens-detroits-recovery-trend","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/increase-in-hotel-occupancy-strengthens-detroits-recovery-trend\/","title":{"rendered":"Increase in Hotel Occupancy Strengthens Detroit\u2019s Recovery Trend"},"content":{"rendered":"<p style=\"text-align: justify\">By Veronica Grecu, Associate Editor<\/p>\n<p style=\"text-align: justify\">Less than six months ago Detroit was facing such a dramatic population decline caused by a sluggish economy that local experts and city officials were forced to come up with a serious rescue plan. Things started to move and today signs of hope can be seen in most industries.<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/12\/Detroit_Night_Skyline.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-27332\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/12\/Detroit_Night_Skyline.jpg\" alt=\"\" width=\"300\" height=\"123\" \/><\/a><\/p>\n<p style=\"text-align: justify\">Quoting several reports published by leading hotel information companies, <em>The Detroit News<\/em> analyzes Metro Detroit\u2019s hospitality industry. Since October 2000, when the occupancy rate was 68.7 percent, the area\u2019s hotel scene began its decline\u2014in 2007 the occupancy rate was at its lowest, with roughly 47 percent\u2014but it has climbed back as one of the nation\u2019s strongest markets. According to Hendersonville, Tenn.-based hotel information company STR, in October 2011 the occupancy rate was 64.50, the highest in ten years, and this ascending trend is expected to continue over the next year. According to business analysts, hotels need at least 60 percent occupancy rate to be profitable. The current revenue per available room of around $50 puts Metro Detroit back on the hotel profitability map, notes <em>The Detroit News.<\/em><\/p>\n<p style=\"text-align: justify\">This increase results from the rebirth of the auto industry which has generated growing business and corporate travel. The playoff run by the Detroit Tigers and the Detroit Lions&#8217; winning season, which attracted a large number of tourists, have also had a positive impact on the hotel occupancy rate.<\/p>\n<p style=\"text-align: justify\"><em>Photo credits Shakil Mustafa<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Veronica Grecu, Associate Editor<br \/>\nLess than six months ago Detroit was facing such a dramatic population decline caused by a sluggish economy that local experts and city officials were forced to come up with a serious rescue plan. Things started [&#8230;]<\/p>\n","protected":false},"author":258,"featured_media":1004505521,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1495,21742],"tags":[],"class_list":["post-1004051580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-detroit","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Increase in Hotel Occupancy Strengthens Detroit\u2019s Recovery Trend - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/increase-in-hotel-occupancy-strengthens-detroits-recovery-trend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Increase in Hotel Occupancy Strengthens Detroit\u2019s Recovery Trend\" \/>\n<meta property=\"og:description\" content=\"By Veronica Grecu, Associate Editor Less than six months ago Detroit was facing such a dramatic population decline caused by a sluggish economy that local experts and city officials were forced to come up with a serious rescue plan. 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