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Drop in hotel room rates expected this year PricewaterhouseCoopers (PWC) hospitality and research practice is forecasting two consecutive years of declining revenue per available room and a reduction in rates in 2009. “The deteriorating outlook for the economy is impacting travel habits and spending, and hotels are expected to experience reduced occupancy levels, and to a lesser degree, some room rate erosion through 2009,” said PWC principal Scott Berman in a statement. The forecast indicates a 5.8 percent drop in RevPar in 2009, the sharpest decline since 2001. Average daily growth rate will decline 2.4 percent in 2009, the forecast indicated. Occupancy rates will continue to decline through 2009, reaching an almost 40-year low of 58.6 percent, PWC said.
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