Study finds slower-than-expected recovery of hotel rates

08/20/2013 | TravelPulse

A new study by Hogg Robinson Group indicates that hotels are increasing average room rates 4% to 5% below market forecasts. "The early sign of recovery in hotel prices is encouraging, what is a surprise however is that in certain key cities the rates are not as high as the market had expected -- in many cities this is attributed to new supply. On the whole occupancy is increasing faster which, coupled with continued high demand, means we will be likely to see rates climbing in certain markets in the second half of the year and beyond," said Margaret Bowler, Hogg Robinson's director of global hotel relations, in a statement.

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