National Study Shows Hotels are Rolling in Money
COLUMBIA - A recent study released from New York University says hotels across the United States are expecting to bring in $1.8 billion from fees charged to customers by the end of the year. That's an increase from last year where hotels brough in a total of $1.7 billion. Researchers say the large amount of money can be directly attributed to an increase in hotel occupancies of around 4.5% and to higher hotel surcharges.
Bjorn Hanson, NYU divisional dean, says the fees are a huge source of income because they are an 80% - 90% profit.
Between 2000 and 2011, NYU researchers estimated hotels have brought in six million dollars more per year in fees.
Travel agent, Jerry Price, says the travel industry in Mid-Missouri has not been hit too badly and that the increase in fees won't keep too many people from going on trips.