Study: Hotels Steady, Faster Gains in ‘04

The U.S. hotel industry is set for an essentially flat 2003 after a bruising two-year downturn, but a rebound in occupancy next year will allow hotel operators to raise room rates in 2005, a study released on Thursday said.

The forecast by consultant PriceWaterhouseCoopers points to better times for U.S. hotels but cautions that even after two years of projected gains, the industry will have recovered just over a third of the room revenues lost since 2001 during the deepest drop in demand since the Depression of the 1930s.

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PricewaterhouseCoopers LLP