Hotwire exec: Luxury hotel rates to come down in the fall

08/20/2009 | Bloomberg

With business travel still in a slump, rates at five-star hotels should see a steep decline beginning in September, according to Hotwire.com President Clem Bason. Bason said Hotwire's revenue increased 24% in the second quarter, as travelers sought online bargains. He says the most important trend for the industry in 2010 won't be growth, but stabilization.

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