Hotel Industry Downturn Predicted for 2009

Hotel Industry Downturn Predicted for 2009

The hotel industry will continue to feel the effects of the economic downturn into 2009 when occupancy rates will bottom out, according to a new report by PKF Hospitality Research.

In its Hotel Horizons report, PKF projects a 0.2 percent decrease in lodging demand in 2008, followed by a 1.1 percent drop in 2009. If projections hold true, next year would be the third consecutive year that demand has declined, marking the first time that’s happened since 1988. The drop in occupan

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