Average daily rate growth for our 290 hotels was 5.9% in the first quarter of 2012, an increase in each portfolio and for 14 of our 15 brands this quarter, compared to last year as our operators continued to manage guest mix and pushed rate during peak travel periods. Despite an unsteady macroeconomic environment and excluding renovation hotels, we have continued -- we have seen continued occupancy rate and RevPAR improvement in 2012 as we did in 2011, and we continue to press our managers to focus on revenue management and cost control. Our managers' 2012 RevPAR forecast for our hotels are in the range of 5% to 8%.There is optimism about the ongoing lodging recovery as a result of constrained supply growth, continued steady demand and increases in average daily rate in GOP margins. Although modest economic growth continues to create uncertainty about the sustainability of this recovery, we continue to see steady growth and a greater share of that growth from rate than occupancy, which helps margins.
Hospitality Properties Trust Management Discusses Q1 2012 Results - Earnings Call Transcript
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