Commercial Construction & Renovation

STR reports that the 12-month moving average for average daily hotel rates in the U.S. has risen to nearly three-fifths of the peak performance numbers reached in 2008 and estimates that it would take 14 to 15 more months before the hotel industry returns to that peak. Data also show that the 12-month ADR percent change has exceeded the 12-month occupancy percent change two months in a row, while the group ADR for 2012 has exceeded all other recorded rates save for the peak year of 2008. Read the HotelNewsNow.com story here.