Great
news for the hospitality industry – despite the recovering economy, PriceWaterhouseCoopers (PwC) amended growth projections through 2012, increasing RevPAR projections from from 6.5 percent to 7.2 percent through 2012. This reflects the optimism that demand from business and leisure travelers and groups will continue to offset the rebounding economy.
As a portfolio of upper and upper-upscale hotels, PwC’s projections that high-end segments may see the biggest growth is good news for HEI Hotels & Resorts. In a recovering economy, industry growth has continued to outpace projections, and projections for 2013 continue to look good, thanks in part due to increased occupancy and demand.
HEI is committed to local economic development, job creation and employee earning potential. We invest heavily in our properties – both new and old – to ensure that they are attractive destinations for travelers. Fully booked hotels leads to economic opportunities for local employees and communities; our success in growing hotel occupancy rates throughout the economic recession led to an almost 18 percent increased earning potential for its employees over the past four years. Since 2007 the company has invested in the construction of three new hotels in Philadelphia, Minneapolis and Hollywood that created 757 local jobs, and purchased two troubled hotels that preserved another 228 jobs.
As I said earlier this year, our associates can feel confident that this uptrend will mean more opportunities for them. Growth in the industry means growth and opportunity for associates.
