Statistics Documenting the Continuing Bubble in the Hotel Business Continue

The Albany Business Review reported the opening of two more hotels in Saratoga County and a further decline in the economics of the local hotel industry.

Last week the 107 room Home 2 Suites opened in Malta.  Obviously they are directing themselves to  Global Foundries which is located in the same town.

According to the Review:

  1. As of this last July, the average rate of occupancy has fallen every month for the last fourteen consecutive months.
  2. During the same period the average occupancy rate is down a whopping 13.5 percent.
  3. The supply of “room nights” has increased by 5 per cent.
  4. Demand has fallen a whopping 9.2 per cent.
  5. The amount paid per room is down 11.5 per cent.
  6. The average amount paid was $85.27.
  7. The average daily rate demanded of guests is up 2.4 percent to $139.94.
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5 thoughts on “Statistics Documenting the Continuing Bubble in the Hotel Business Continue”

  1. Apparently hotel builders seem to think Saratoga Springs is a little gold mine all year round,
    which is only true during 2-3 summer months.

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  2. I see that the “Country Gentleman” hotel is slowly rising. That has got to be the slowest group of contractors ever. I heard that if a structure is built within a certain downtown district, it must be steel, and maybe brick. This hotel will be wood, like the hotel near Exit 15. Wooden hotels are not a good idea.

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    1. The relatively new Pavilion Grand Hotel on Lake Ave. is also a wooden frame building with either plywood or MDF sheathing (I watched its construction on a regular basis). Luckily, they’re only a block from the firehouse.

      Like

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