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Hotels spiking rates, Limiting Corp. inventory.

Publication: Business Travel News
Publication Date: 03-OCT-05 		Format: Online - approximately 832 words
Delivery: Immediate Online Access

Article Excerpt
Hotel chains are pushing for substantial rate increases and are reducing the number of corporate deals they are offering as they negotiate with buyers for 2006 contracts.

Bjorn Hanson, head of the hospitality and leisure practice at PricewaterhouseCoopers last week said that while average daily rates overall are expected to increase on average by 4.7 percent next year, corporate customers, particularly those favoring higher-tier hotels, will be at the mercy of even greater increases in the 5 percent to 5.5 percent range. Although some hoteliers and industry watchers forecast double-digit percentage increases in certain markets, most in the industry agreed that negotiated rates will be greater for 2006.

"Overall, corporate rates will increase slightly less than average daily rate, but because corporate travel...

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