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Mixed Signs of Recovery

Finally, I read two pieces of good news today. Both Gaylord Hotels and Wyndham Hotels reported increase in revenue in the 4th Quarter of 2009. Here are some statistics from their 4th Quarter reports:

Gaylord National Resort (a Washington D.C. hotel):
Revenue: $56.8 million, 9.8% increase.
RevPAR: $125.64, up 12.1%.
Other Gaylord properties in Nashville, Orlando, and Dallas posted a quarterly loss of $600,000.
Gaylord foresaw the rebound of meetings and convention business. Overall, its performance is impressive (you may read more discussion about resorts under recession via the following link http://linchikwok.blogspot.com/2010/01/resort-fading-word-in-lodging-industry.html)

Wyndham Worldwide Corporation:
Revenue: $913 million, 2 million increase.
Vacation ownership: increase 3%; Exchange and rental revenue: increase 3%
RevPAR: down 11.9%
Wyndham expected the return of business travels in 2010.

These reports give us some hope, but it seems industry-wide full recovery is still some distance away.

References:
Washington Business Journal: http://washington.bizjournals.com/washington/stories/2010/02/08/daily47.html?ana=yfcpc
Yahoo!Finance:
http://finance.yahoo.com/news/Wyndham-profit-beats-rb-251436798.html?x=0&.v=1
http://finance.yahoo.com/news/Wyndham-Worldwide-moves-to-apf-1306058282.html?x=0&.v=4
Picture was downloaded from: http://www.gaylordhotels.com/gaylord-national-details.html#

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