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We'll have that off -- -- on the top.
Let's talk more about rising gas prices may have a lot of you rethinking your vacation plan so what are hotels -- to make sure you don't canceling a reservation.
Well let's find out thing is Scott Meyer vice president Carlos is mid scale brands which includes.
Country inns and suites by Carlson parking and by -- hit -- Scott.
Good afternoon how -- you today very well thank you are you worried that gas prices -- cut into business.
Well I'm just hoping you said previously that are customers are not canceling reservations right now the hotels for this summer.
I think you know overall we are concerned about the rising level gas prices.
But still very optimistic that we're gonna have a strong you know traveling season of summer throughout countries and suites by Carlson and the other Carlson -- -- -- hotel brands.
What makes you optimistic because -- -- no they're forecasting gas prices on average over four dollars.
Once he hit the peak driving season and the broader economy while probably improving their -- lot of challenges out there namely how to people still are not working.
You're correct there are a lot of people are working yet today but I'm overall I think.
Many many of our other traveling public there is I think improved confidence and job security.
And I think there is some pent up demand for vacations and people will.
Go on the road this summer and travel throughout the US and maybe outside the borders.
Second I think you know they have options before them.
Hi instead of -- family may be driving.
You know a cross country for occasion there's plenty of our regional opportunities for them.
To travel within you know maybe 400 miles of their of their home.
And and still -- -- verification and -- -- opportunity they have is as they travel.
-- not traveling maybe they just cut back their travel one or two nights but still -- up for three or four nights and spend a vacation out there.
And lastly you know I'll my -- -- but I think maybe here in America sometimes we think that come vacations are part of our birthright -- we're gonna get out there and do it no matter what.
We sure hope for all of those things to work out is -- specific price of gas -- that would concern you a drop dead level if you will.
And what do you think should be done about.
Higher gas prices.
You know ultimately I think you know once -- it's approaching you know maybe the mid four dollars for 5475.
That is really where it's gonna be an area of concern for us.
And I think you know as far as -- -- far as what if we do more about gas prices again of course.
I'd be nice of the government could step in men and help the I'm -- -- the whole -- hospitality industry.
Throughout the summer season to ensure travelers are out on the roads and spending time in our hotels.
-- the other thing we like to really focus on is providing our -- Our customers with with high value when they stay at their hotels so maybe -- that I guess the price goes up -- at a dollar more gallon.
But when they stay at a country inns and suites by Carlson for example they're gonna have some value built into their state including free Wi-Fi because they have all their kids using their iPods ipads.
Common tablets and Kendall's and then also -- you know we have a free breakfast that goes.
It with the with the rating those thousands of people -- -- find high value when they stay at our properties.
So Scott give me a sense of your bookings -- through the peak spring and summer travel -- and if it's a good indicator for our what the future of the economy maybe.
Right now I mean our -- is actually well above last year tougher bookings for the spring.
And for this summer.
2011 was a very good year for the -- -- industry.
We we didn't have I would say you know significant growth we have nice steady growth in our occupancy and our average rates.
And actually the first two and a half months this year the the trending -- people staying in the hotels both leisure and business have been very positive.
And again for the spring and summer season we're seeing around.
How people are out -- booking applications are booking travel grants -- very optimistic that they won't cancel and they will go through their vacation this year got a -- rates this year compared to last higher or lower overall.
The room rates are going up again and in the overall hotel industry -- -- supply is not really growing and hasn't grown in the past couple years.
As -- now demand increases again simple law of economics supply and demand.
More people are going to -- in hotels and thus the average rate of our properties.
And any hotels and in our industry are going up.
Scott -- great chat thank you for your time this afternoon.
Thank you and generous today thank --