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Hospitality Industry Trends |
Wednesday December 3rd, 2008 |
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HRG Hotel Survey Shows U.S. Rates Leveling, Elsewhere Strong |
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Hotel rates for corporate travelers leveled off in North America for the first half of 2008, while other regions-particularly Eastern Europe and Asia/Pacific-continued to show strong rate hikes, according to six-month hotel surveys recently released by HRG. |
The surveys, based on industry intelligence and actual room nights booked and rates paid by HRG clients in the United Kingdom during the first half of the year, showed double-digit percentage increases in a number of U.S. markets, including Atlanta, Boston and Dallas. Overall, however, North America has been the first region to see rates begin to level off, and HRG said to expect larger decreases in the second half of 2008, as hotels increasingly begin to open up corporate rate availability.
While New York remained the most expensive North American city, with an average rate of $358.98 per night, it remained stable compared with the same period in 2007. Rates also were flat in Los Angeles and even went down in Houston and San Francisco, according to the reports.
External Source - For the complete article click here
Source - BTN
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