(External) U.S. Hotel Recovery Seen Strong In '04, May Peak
After three years of decline and stagnation, the lodging industry next year will see a 5.2 percent rise in room revenue, the key barometer of industry health, followed by a 3.9 percent rise in 2005, PWC analyst Bjorn Hanson said ahead of the report's release. This year room revenue will rise about 0.3 percent, he forecast. Even with rising expenses such as property taxes and labor costs, hotel industry profit will grow 15.9 percent to $15.8 billion next year, PWC forecast.
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