CoStar - U.S. hotels should enjoy revenue growth the rest of this year, but it probably won't translate to the bottom line until next year, according to new lodging industry reports released this past week. According to Smith Travel Research (STR), lodging demand in the first quarter of 2010 increased 5.3% compared with the first quarter of 2009. This is the largest quarterly increase in hotel demand since the second quarter of 1989. Hotel transaction activity also appears to be thawing, although it still remains a fraction of what it was a couple of years ago, according to Jeff Myers, a real estate economist with CoStar Group, Inc. Through the first four months of the year, hotel sales volume was on pace to surpass 2009's total, and its proportion of overall commercial real estate investment activity has spiked.
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