Hotel prices are headed up this year
Posted January 12, 2008 10:00 pm
NEW YORK -- Be prepared to pay more for a hotel room in 2008, according to the annual lodging industry report from PricewaterhouseCoopers' Hospitality & Leisure Practice.
Hotel rates increased 7.5 percent in 2006, and were on target to finish 2007 with a 5.7 percent increase, according to spokesman Bjorn Hansen. For 2008, the price of a hotel room is forecast to go up another 5.6 percent, he said.
Hansen said that while occupancy for hotels was down a bit overall for the year, travelers do not appear to be "trading down," or staying in less expensive hotels than they normally would. "They seem to be paying the prices appropriate for their preferences in levels of service and amenity," Hansen said.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.