October 26, 2004
Return of biz travel means higher hotel costs
In the first eight months of the year, hotel room occupancy reached 67 percent for the 25 biggest U.S. markets, a rise of nearly 6 percent over the same period a year ago, Reuters reports in a story posted at MSNBC. And that means rates are likley to rise, analysts said. In a recent business travel forecast, American Express predicted hotel room rates will rise by up to 3 percent in North America during 2005. The story includes this telling nugget: "On one Wednesday night in October, more than 94 percent of available rooms in New York City were booked, and a week later, on another mid-week night, occupancy was at 85 percent."
October 26, 2004 12:03 PM in Hotelology
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