Member News – August 20, 2013

POST LABOR DAY SCHOOL START STUDY UPDATE Maryland Comptroller Peter Franchot has released an economic analysis that identifies the direct economic impact and positive effect on state tax revenues if a post-Labor Day start date is in effect for all public schools in Maryland. The report was done by the Comptroller's Bureau of Revenue Estimates. FREE 2014 FORECAST WEBINAR A free PKF- Hospitality Research webinar with the latest Hotel Horizons® 2014 supply, demand, occupancy, ADR, and RevPAR forecasts (broken down by chains and major markets) will be held on Tuesday, August 27, 2013 at 2:00 p.m. For more information or to register Click Here ROCKY GAP CASINO REVENUES ARE UP Casino revenues at Rocky Gap Resort were $3.47 million in July, up from $2.5 million in June (the first full month the new casino was open). Rocky Gap expects further gambling revenue gains based on an aggressive regional marketing plan and the opening of a new conference center later this year. GAMBLING NO LONGER THE MAIN REVENUE GENERATOR IN LAS VEGAS Tourism is up in Las Vegas but spending by tourists while there has shifted significantly. Gambling accounted for only 36% of Las Vegas revenue last year, compared with 56% in 1984. Spending on gambling has moved to spending at entertainment and dining venues. NATIONAL CONFERENCE OF STATE LEGISLATURES ADOPTS ON LINE TRAVEL TAX POSITION A National Conference of State Legislature's Task Force Co Chaired by Sheila Hixson, Chair of the Ways and Means Committee in the Maryland House of Delegates; has adopted a resolution calling for state legislatures to enact measures requiring online travel companies to remit taxes paid on their retail prices. IMPROVING DEMAND IS DRIVING GROWTH OF THE EXTENDED-STAY SEGMENT  STR reports a 6% rise in RevPAR in the extended-stay segment during the first half of 2013, surpassing a 5.6% overall RevPAR growth in the overall U.S. hotel market. Growth in the segment's room supply increased by 12% during the past four years versus a 3% supply growth for the entire U.S. market.

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