April 25, 2017
Hotels across the country are continuing to experience record profits and occupancy levels, even as competition heats up from home-sharing rivals like Airbnb. In a report released Wednesday, the industry research firm STR provided data showing that hotel industry revenues across the U.S. reached $199 billion in 2016, an increase of nearly $9 billion over 2015. Net profits, also a record, stood at $76 billion, a 2 percent increase (per available room) compared with 2015…