Indianapolis is becoming a place to visit and stay as each year passes. The recent hotel business numbers confirms that notion.
Here’s more from Indiana Business Journal:
Through November, downtown Indianapolis hotels saw their revenue increase 8 percent over the same period a year ago, according to Smith Travel Research, far ahead of the national average of 4.9 percent.
Marion County hotels saw a 7.3 percent increase through November, while the entire Indianapolis metropolitan area also enjoyed 8 percent growth, according to STR.
Hoops explained that revenue from group business such as conventions and association meetings is usually much more stable than “business transient” revenue.
“Group business is booked years in advance and is impacted less by fluctuations in the economy,” Hoops said. “Business travel on the other hand is booked and can be canceled with much shorter notice. So if the economy is going good that can pick up, and if there’s a downturn, people can quickly cancel business meetings where travel is required.”