STR: Hotel revenues soar to $163 billion in 2013

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STR: Hotel revenues soar to $163 billion in 2013

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Record highs in supply, demand and average daily rate helped drive hotel revenue levels past $163 billion last year as net operating income at same-store hotels rose 10 percent, according to data from STR Analytics. The majority of U.S. markets saw an increase in house profits in 2013, with all of the Western U.S. save Riverside/San Bernardino, Calif., showing profit increases. Income as a percent of revenue is expected to fully recover past pre-recession levels by the end of the year. Read the HotelNewsNow.com story here

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