“While our hotels in Government segment dominated markets struggled, our natural resource markets’ hotels contributed to large increases in the last three months of the year and caused the Company to post double digit increases for the month of December.” according to Adrian Guerra Corporate Director of Marketing for Lodging Host Hotel Corp.
December was a very nice way to end a year that began with a first quarter down almost 4% from 2012 according to Mr. Guerra. The company will end the year with a strong 3.6% revenue growth over 2012, in same store sales, according to Charlotte Hilchey, Company Comptroller.
“The economy seems to finally beginning to pick up steam. Combine that with almost all of our markets showing no increase in supply in 2014 and we should have a pretty good year ahead. We still need the Government/Military markets to stabilize so that we can push Average Daily Rate increases that we have not seen in a couple of years in those markets, so we are not out of the woods yet.” according to Mr. Guerra.
According to Kevin Hilchey, President of Lodging Host Hotel Corp, “The company is looking forward to a very busy and productive 2014 and not just in same unit sales growth. We have at least two projects that we should get out of the ground in 2014. The last project that we completed was in late 2008.”