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South American hotels see turnaround.

Publication: Business Travel News
Publication Date: 21-MAR-05 		Format: Online - approximately 905 words
Delivery: Immediate Online Access

Article Excerpt
Fueled by an increase in business travel from the United States and Europe, South American hotels' occupancy and average daily rate in 2004 rebounded after a prolonged slump, according to travel buyers, hoteliers and industry, consultants attending a hotel business form in Caracas last month. While the turnaround hasn't affected the entire region equally, nor been nearly as dramatic as the rebound in the United States, hoteliers and consultantS expect the turnaround to accelerate in 2005 and 2006.

At the same time, however, buyers faced some obstacles in getting hotels in South America to adhere to rates negotiated as part of their global deals, a problem South America shares with other developing parts of the world. Both the rebounding market and inconsistent pricing figured prominently at the forum.

Unlike the late 1990s, hotels in...

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