STR: Hotels reported profit gains in 2011

A combination of cost-cutting measures and rising occupancy levels enabled hoteliers to boost profits in 2011, STR reports in its 2012 HOST Study. Gross operating profit grew to 31.5 percent in 2011 against 29.9 percent the previous year among the 2,574 full-service hotels sampled by STR for the study. The 3,593 limited-service hotels sampled by STR reported gross operating profit of 48.8 percent in 2011, compared with 48 percent in 2010, STR said. Read the HotelNewsNow.com here.