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Hillsborough Hotel Business Down 17th Straight Month
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Published: October 16, 2008
TAMPA - In another sign of fallout from the declining economy, hotel demand for rooms in Hillsborough County declined in August for the 17th consecutive month, the most recent report by Tennessee-based Smith Travel Research showed.
August demand declined 7 percent to 317,400 room nights sold compared with August 2007.
Revenue in August declined for the second consecutive month, falling 8.5 percent to $28.2 million compared with year-ago figures.
Hoteliers managed to keep revenue steady during declining demand by holding the line on prices or raising them slightly through June. However, prices declined slightly in July and August
The average daily room rate, a hotel industry indicator determined by dividing hotel revenue by the number of rooms sold, was $88.73 in August, compared with $90.14 in August 2007.
The latest report from the Tampa Convention Center shows the facility is scheduled to host 25 conferences and meetings in October.
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