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Manchester Arts District »NEW 2010 - Active
Daniell Development To Take On Largest Penthouse Project »July 2009 - Closed
Residential Portfolio III: Income Producing Portfolio »October 2009 - Closed
Residential Portfolio: Upscale Income Producing Portfolio »June 2009 - Closed
Bond structure on new hotel: Sheraton Atlanta »May 2009 - Active
Subdivision Portfolio: 40 New Homes: Performing »April 2009 - Closed
Bank Partner Golf Course Portfolio »April 2009 - ClosedFeb 2009 Subdivision Portfolio: Townhome Partnership Performing »February 2009 - ClosedCountry Club Portfolio: Performing, Partnership »February 2009 - ClosedPlease contact Daniell Development, Inc.
for complete projects list.
US Airport Hotel Performance: Insulation to Market Woes
Smith Travel Research classifies nearly 2,200 U.S. hotels representing about 301,000 rooms as “airport” locations. These hotels usually are within three miles of an airport and primarily serve demand generated by airport traffic.
Based on the 12 months ending September 2009, airport hotels generated more than US$6 billion in room revenue, about 6 percent of the U.S. total. More than 40 percent of airport hotel rooms are classified as upper-upscale or upscale, with another 18 percent falling into the midscale-without-food-and-beverage segment.
Chicago hotels have been hit the hardest, by far. Occupancy declined 19.7 percent and ADR fell 17.6 percent, pushing RevPAR down a whopping 33.8 percent. During the same time period, the overall Chicago market RevPAR fell 25.9 percent.
On the flip side, airport hotels in Atlanta have fared better than the overall Atlanta market. Atlanta airport hotel RevPAR declined “only” 14.9 percent, while total Atlanta market RevPAR was off 19.3 percent. Click here for full HNN report…