by Sarah J.F. Braley | July 28, 2010

In evaluating members of the International Association of Conference Centers, Colliers PKF Consulting USA found the properties’ revenues lagged behind their hotel counterparts throughout 2009. According to the Trends in the Conference Center Industry report released last week by PKF, the average center experienced a 44 percent decline in net operating income in 2009. The average U.S. hotel’s net income declined 35.4 percent for the same period. Looking at this year, the managers surveyed anticipated a 4.8 percent increase in occupancy in 2010, but they expected their rates to increase just 0.5 percent. It is still a buyers market in the short term, reports Dave Arnold, CEO East of Colliers PKF Consulting USA, author of the study.