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Article: Hotel Guests Will Pay More in 2005; Room Rates Keep Going Up, but Generally Remain a Value.
- Article from:
- Business Wire
- Article date:
- December 13, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA -- After three years of declining hotel rates, consumers are seeing a reversal of that trend and are beginning to experience price increases for their lodging stay. In addition, rate increases are beginning to escalate. Based on the recently updated Winter 2005 Hotel Outlook forecasts of lodging industry performance prepared by Atlanta-based PKF Hospitality Research ("PKF/HR") and Boston-based Torto Wheaton Research ("TWR"), room rates across the Top 50 hotel markets in the U.S. will increase by 3.7 percent in 2004, followed by another 4.7 percent bump in 2005. Stronger demand levels, combined with the increasing use of savvy price-setting practices by both hotel ...
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