Hotel Industry Forecast Improves as Construction Drops Off

It looks like this year won’t be quite as bad as anticipated for the hotel industry, after all.

Smith Travel Research has updated its forecast for 2010 to reflect a stronger performance than previously predicted in the three main metrics—occupancy, revenue per available room, and average daily rate.

STR’s revised forecast for 2010 shows a 2 percent increase in occupancy, to 56 percent, and a 2 percent decrease in average daily rate, to $95.45. RevPAR is expected to end the yea

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