After the worst of the recession, the U.S. tourism industry is recovering, with New York even seeing record figures of visitors in 2010. According to PricewaterhouseCoopers, 48.7 million people visited New York in the past year, and experts believe this growth will continue into 2011, with hotel occupancy expected to increase by 1.8 percent.
The hotels that have shown the biggest growth have been well-known chains such as Marriott International and Starwood Hotels & Resorts. Additionally, Hyatt Hotels, Choice Hotels International and Wyndham Worldwide have revealed they are looking to acquire another brand, thereby allowing them to gain further control of the market. By purchasing another company, a hotel brand will be able to offer more choice in terms of price, enticing customers away from rivals, and all without the expense of constructing a new hotel building.
Detroit, New Orleans and Dallas experienced the highest rise in hotel occupancy rates in 2010. New York and Boston also experienced increased numbers of visitors; however, numbers in Philadelphia and San Diego declined.
Travel group STR calculated that figures have continued to improve in January 2011, suggesting hotel occupancy rates will continue to rise. Analysts also expect U.S. hotel brands to expand overseas as a way to consolidate their business, particularly in emerging markets such as India and China.
