Hotels: Room rates going up
October 24, 2004 |
The recovery in business travel has a dark side for corporations returning to the road: Higher prices for hotel rooms.
The recovery in business travel has a dark side for corporations returning to the road: Higher prices for hotel rooms.
Indeed, a sharp increase in overall lodging prices was a main factor in the rise in consumer prices in September.
In some parts of the country, popular properties have been sold out at mid-week.
“In general, life is good for the U.S. hotel industry,” says Jan Freitag, director of client services at Smith Travel Research, a Hendersonville, Tennessee-based authority on lodging industry performance.
In the 25 largest U.S. markets—which include cities such as New York, Washington, Chicago, Boston and Los Angeles—he said room occupancy has been averaging more than 67 percent for the first eight months of 2004, an increase of 5.8 percentage points over the same period a year earlier.
Get the full article at MSNBC
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