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Corps. face scarce space: soaring hotel rates, occupancy drive buyers to secondary cities.

Publication: Business Travel News
Publication Date: 06-MAR-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Corporate meeting buyers, faced with the prospect of spending excessive amounts of time finding hotel space in major cities at time when occupancy continues to soar and paying record-high rates, are moving more events to secondary and tertiary locations. Though rates in those cities are skyrocketing as well, they offer buyers at least some relief during the height or a powerful hotel seller's market.

Additionally, meeting buyers also can continue to expect the further implementation of hotel yield-managemcnt techniques, according to PricewaterhouseCoopers industry analysis. Commonly deployed yield-management strategies include higher rates for meeting and banquet room rentals--and the denial of such space without a requisite number...

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