Hyatt: Market shows signs of stabilization
Although pressure on average room rates will likely continue, occupancy rates are stabilizing, and that trend should continue throughout the remainder of the year, Hyatt Hotels Corp. told potential investors this week. The company reports that its revenue per available room declined 22% in the first nine months of the year and that overall revenue fell 17% to $2.44 billion for the nine months ending Sept. 30.
San Jose Mercury News (Calif.)
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This story published in AH&LA SmartBrief on 11/04/2009
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