This article in the Minneapolis St. Paul Business Journal caught my eye today because just about this time last summer, the cities were all a-buzz with the opening of the luxury hotel trifecta, W Minneapolis in the Foshay, the Hotel Ivy and the Hotel Minneapolis.
But PKF Hospitality Research, according to the article, predicts that drops in RevPAR (Revenue Per Available Room) will be more severe in the Twin Cities than throughout the national market. The forecast attributes the Twin Cities' tough situation to not only the nationwide drop in demand, but also the unfortunately timed rise in supply here in Minneapolis.
What do you think, hoteliers? Is the situation really more dire in the Twin Cities? And how do you keep business without devaluing your products and services too much?
--Marni Ginther
Assistant Editor
Comments