Hotels feeling chill in tourism
July 08, 2008 | Hospitality Industry
Coming off several strong years, hotels likely will see occupancy rates downtown and nationally drop by 2 percentage points this year, though prices should hold strong, writes the Chicago Tribune.
Some observers see a potentially harsher scenario.
“This is the bow wave, and the rest of the wave will wash over,” said airline industry analyst Robert Mann, president of R.W. Mann & Co. in Port Washington, N.Y. “Most of the effects won’t be felt until after the big schedule cuts this fall.”
The pain is expected to be most deeply felt in leisure destinations such as Las Vegas and Orlando, as airlines cut service more deeply to destinations that draw flocks of tourists seeking cheap flights, he said.
Get the full story at the Chicago Tribune
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