Metro Detroit hotels saw just shy of $1 million less in revenue last week than they did the same week of 2019 when the North American International Auto Show press and industry days were underway.
That's according to data collected by Hendersonville, Tenn.-based STR Inc. and analyzed by the Detroit Metro Convention & Visitors Bureau.
Metro Detroit hotels reported 59.2 percent occupancy for the week of Jan. 12-18 this year, compared with 63.6 percent occupancy the same week of 2019, according to STR data.
A total of 39,786 hotel rooms in Wayne, Oakland and Macomb counties are included in that data, according to the DMCVB.
The average daily rate during the week the auto show press and industry days traditionally took place fell to $100.43 from $130.62 last year, per the STR data. And the RevPAR, or revenue per available room, dropped to $59.48 this year, down from $83.06 in 2019.
That translated to a decrease of $938,154 in room revenue for the week of Jan. 12, Deanna Majchrzak, media relations manager for the DMCVB, said in an email.
As Crain's reported last week, the auto show's move to June, beginning this year, affected other businesses in the region, as well, at least temporarily.
TCF Center estimated it will see a $500,000 impact on its bottom line this year, and The Firebird Tavern in Detroit projected its January sales would fall 20 percent, or approximately $30,000-$35,000, compared with a typical January.
But the tavern said the show's new summer berth could more than make up for the losses this month, and Viviano Flower Shop said it expects the new dates to be a boon for business.
"traditional" - Google News
January 25, 2020 at 02:34AM
https://ift.tt/36oLIPF
Local hotels see $1 million lower revenue during traditional auto show opening week - Crain's Detroit Business
"traditional" - Google News
https://ift.tt/36u1SIt
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Local hotels see $1 million lower revenue during traditional auto show opening week - Crain's Detroit Business"
Post a Comment