— The Portland, Oregon, hotel industry has been on fire since the beginning of the year, as hotel guests and employees have rushed to find a new, lower-cost option.
But a new study shows that the boom may be slowing down, with hotel occupancy rates falling below pre-recession levels.
Here’s what you need to know to understand what’s happening.
Who is making money from the hotel boom?
Hotel occupancy rates fell below prerecession highs during the year that ended March 31, according to a report released Wednesday by the hotel industry’s trade group.
But in recent months, that trend has reversed, according the International Hotel Association.
In the first half of the last year, hotel occupancy was up 4.4%, while it was down 1.6% during the same period a year earlier.
The drop is likely the result of the Great Recession’s economic downturn, which hit tourism hard and has reduced hotel occupancy, the association said.
That’s likely to continue, according Kevin Anderson, the president of the hotel group.
“We are continuing to see a reduction in occupancy.
I think that is the primary driver,” Anderson said.
But Anderson added that the decrease is a temporary one.
“The real problem is that the economy is still in the downturn, and we are in an economic slowdown, and that will have an impact,” he said.2.
The rise of the Airbnb boom has brought new hotel guests to Newport.
But the number of guests staying at Newport hotels has been dropping for years, Anderson said, which is why he thinks the hotel occupancy rate has dropped to prerecess levels.
The decline in hotel occupancy in Newport is “really consistent with a general trend of hotel occupancy decreasing,” Anderson told The Washington Times.
“That has been the pattern since the recession began, so it will be interesting to see how it plays out in the next couple of months,” he added.3.
A new report shows the decline in Newport hotel occupancy is largely due to a lack of competition.
Airbnb, the popular Airbnb platform that lets people rent out their homes and stay in them, has grown rapidly in the past few years.
The number of Airbnb guests in Newport hotels fell 4.1% from January to March, according a report from hotel consulting firm Mercer.
But occupancy rates at Newport resort hotels have remained stable, even though the number is up by more than 50% from a year ago.
Anderson said the trend suggests that the hotel owners are not ready to make hotel room reservations, which could limit the hotel growth.4.
In Newport, hotels have been able to make a quick buck from hotel room sales.
While occupancy rates in Newport’s mainstay hotels are down slightly from prerecedent levels, occupancy rates overall are higher than they were at the end of the recession, according Mercer.
The mainstay hotel occupancy decline in the first quarter of 2017 was 3.3%, and the decrease in Newport mainstay occupancy from January through March was 7.1%.
The report said occupancy rates for hotels in Newport are up by 2.6%.
“We expect occupancy rates to increase to the midpoint of prerecep-tionary occupancy, but that is not likely for at least the next two years, because there are a number of things we have to work through to keep hotel occupancy levels above prerecovery levels,” Anderson wrote in a statement.5.
The recession has led to a lot of layoffs in Newport.
Anderson’s research also found that the number in Newport of employees working at the hotels and restaurants has fallen by nearly 4,000 since the end to March 31.
The decrease was due in part to layoffs at other parts of the industry.
For example, Newport Marriott announced it would lay off 4,200 employees, while Marriott Grand and Holiday Inn also announced their plans to lay off workers.
The total number of employees in Newport businesses is down by 2,500 from the beginning to March.6.
Newport hotel rooms have been on a downward trend since the Great Depression.
The occupancy rate for Newport hotels is now just above pre-Recession levels, according Anderson.
That is a decrease of 4.3% compared to a year prior, and a significant drop from a month ago, according his report.
“This has been a long-term trend, and it’s just a natural progression of the economic slowdown,” Anderson added.7.
The downturn in the tourism industry has affected Newport hotels.
While the industry is still strong, the number and occupancy rate are at historic lows, according this report from Mercer.
In March, occupancy was at an all-time low of 13.2%.
In March 2017, occupancy stood at 13.1%, and Anderson said that number is still down from pre-Recession levels, but is not yet back to pre-Great Recession levels.8.
Anderson says Newport hotel room rates are likely