Marriott CEO says hotels struggle to raise room rates

05/27/2011 | CNBC

Hotels were able to see an increase in room rates last year, but those rates were still down 10% from before the 2008 recession, says Arne Sorenson, Marriott's president and chief operating officer. "We're still building. Obviously you don't turn around overnight," he said. Sorenson added that it will take some time to get back to 2007 levels, but hoteliers see that goal in sight.

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