Insider predicts continued declines in hotel, air prices

08/21/2009 | Bloomberg

Clem Bason, president of Hotwire.com, expects prices on hotel rooms, air fare and car rentals to decline again in September. As demand in business travel "remains very depressed," five-star hotels will likely reduce rates. "There's one last big drop in pricing for the industry that starts this September," Bason said. "Five-star rates need to drop; it needs to happen."

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