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More Buyers Trading Down In Hotel Tier To Offset Costs.

Publication: Business Travel News
Publication Date: 04-FEB-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Midprice hotel chains are gaining favor with travel buyers, as trading down continued to gain traction as a strategy in 2008 hotel programs, a combined result of demands from upper management to cut travel program costs and repositioning of midprice brands as more attractive options for business travelers.

Overall hotel industry data confirms the trend, and it's not just limited to the upscale-to-midprice pattern, said Bjorn Hanson, hospitality and leisure group principal for PricewaterhouseCoopers. In PwC's 2007 U.S. Lodging Industry Report and Forecast, demand for the midprice without food and beverage tier was forecast to grow by 3.6 percent this year, the largest for any tier and more than double the 1.5 percent growth rate of the overall U.S. lodging industry. The upscale tier had the...

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