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Hotel News
Condotel.biz offers the latest condo hotel articles and real estate investor news to help potential investors research real estate investing and condo hotels. Find out what the media is saying about condo hotels.
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Hotels Booking Bigger Profits |
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The hotel industry should see a 25 percent increase in pre-tax profit this year, according to Pricewaterhouse Coopers, which said in a report that pre-tax profits rose last year by 30 percent to $16.6 billion. The hotel sector could generate $25.2 billion of pre-tax profit in 2006 – a record topping the previous high of $22.5 billion set in 2000. Hotels are squeezing out more profit in part by holding the line on rehiring during the recovery. The number of employees for every 100 occupied rooms declined from 67.8 in 2000 to 61.2 in 2004.
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