Quote:
Originally Posted by mylesmalley
Interesting that the Moncton hotel sales were flat between 2011-12, but that new hotel by the airport was still built regardless. We really need to slow down hotel construction for a few years for the market to recover.
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The national average for occupancy rates for 2012 was 62% so Moncton isn't far off at 60%. A small hotel like the new Marriott would most likely not effect the rate in Moncton even if it sat empty all year, I'd say the market can safely absorb a hotel of that size every couple years. In the last 6 years Moncton has increased room rentals by 100,000 while the rest of NB remained flat.