Buyer's Market With a Twist

Q What are you projecting for average hotel occupancy and rate in 2003?

A In August we forecast 59.8 percent for year-end average occupancy in 2002. Our current forecast is 59.5 percent for this year, and 60.1 percent for 2003. It is statistically significant movement, but very small.

Maybe more important is revenue per available room [RevPAR], which decreased by 7 percent in 2001. Our forecast is for it to decline a further 2.3 percent this year, followed by an

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