It’s good news for them, bad news for us. Sorta.
The long drop in hotel rates appears to be nearing the bottom, according to PricewaterhouseCoopers. Its lodging analysts believe the economic recovery will lift demand for hotel rooms in 2010.
But hotel rates? That’s another story. Average daily rates in 2010 are expected to remain below 2009 levels, even with the projected bounce. (Can you say Year of the Deal?)
“Bad news, bargain-hounds: “The worst appears to be over” for lodging industry”