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Will Rise by 3.0% in 2004 PricewaterhouseCoopers |
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NEW YORK, June 07, 2004 - Average daily rates in the U.S. lodging industry
will rise by 3.0 percent in 2004, according to PricewaterhouseCoopers.
The average daily rate increase is due to a change in inflation from 1.4 to 2.0 percent, a faster than anticipated change in the mix of business verses leisure travel, with a slightly higher proportion of business travel, less "spread" between merchant model price and the rate paid to hotel (PricewaterhouseCoopers research reveals a reduction of almost 5 percent), and more discipline, in part a result of consolidation, in increasing rate in favorable occupancy periods. "The average daily rate increases are tempering leisure demand slightly," said Bjorn Hanson, Ph.D, global industry leader, PricewaterhouseCoopers, "but this is partially offset by unfavorable exchange rates slightly increasing leisure travelers remaining in the U.S." PricewaterhouseCoopers research reveals the following positive factors contributing to U.S. lodging demand:
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Contact:
PricewaterhouseCoopers
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