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Local Hotels See Sluggish Demand

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By TED JACKOVICS

tjackovics@tampatrib.com

Published: October 17, 2008

TAMPA - The troubled economy continues to take a bite out the hotel industry in the Tampa area.

For the 17th straight month, hotel demand for rooms in Hillsborough County declined in August, a report by Tennessee-based Smith Travel Research shows.

August demand declined 7 percent to 317,400 room nights sold, compared with August 2007 hotel bookings.
Hotel industry revenue also slipped in August, falling 8.5 percent to $28.2 million compared with year-ago figures. It was the second straight month revenue has slipped for the local industry.

To address declining demand, area hotels pushed room prices down slightly in July and August.

The average daily room rate in Tampa was $88.73 in August, compared with $90.14 in August 2007. The room rate is determined by dividing hotel revenue by the number of rooms sold.

The Tampa area's hotel industry relies on convention and business meetings for hotel room sales.

The latest report from the Tampa Convention Center shows the facility is scheduled to host 25 conferences and meetings in October.

Reporter Ted Jackovics can be reached at (813) 259-7817.

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