4/30/2009

After significant price increases last year, average hotel rates and airfares fell in the first three months of 2009, according to the recently released American Express Business Travel Monitor. For example, domestic airfares dropped 9% during the first quarter to an average of $213. The lodging market saw additional supply in 2008 which, along with a drop in demand, led to declines in room rates in the beginning of 2009.

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