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Hoteliers in driver's seat: insiders see demand, rates rise through 2007.

Publication: Business Travel News
Publication Date: 20-JUN-05 		Format: Online - approximately 1021 words
Delivery: Immediate Online Access

Article Excerpt
New York -- Most hotel executives and investors expect strong occupancy and revenue levels to continue through 2007, according to a survey of more than 170 hospitality executives, investors and real estate professionals attending the New York University 27th Annual International Hospitality Industry Investment Conference here this month.

Optimism dominated the conference and survey results reflected the extent of continued expectations: 54 percent said the market will sustain occupancy and revenue levels through 2007, and 20 percent expect the momentum to continue through 2008.

"The business customer has come back," Carlson Hospitality Worldwide president and CEO Curtis Nelson told attendees, who clearly agreed. Just over half of survey respondents cited the business travel rebound, while 27 percent cited pent-up demand as the primary factor for a "faster than anticipated recovery of the U.S. hotel industry back to 2000 levels."

Hoteliers have reason to be sanguine, according to PricewaterhouseCoopers projections released during the...

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