At present, the hotel market in USA as well as international markets are facing an unexpected demand drop, which started at the end of the summer season and precipitated due to the economic crisis on Wall Street.
Experts consider that the biggest drop is registered in full-service hotels in London, Tokyo, Hong Kong, Shanghai, Paris and New-York as those are the most commonly visited by businessmen.
PKF Hospitality Research company has recently revised the forecasts and concluded that the revenue per room will register a 4.3% drop, while profits will diminish by 7.9% for domestic hotels, in 2009.
On-line reservation sites provide promotions and tourist packages in order to attract more and more tourists but no results were registered yet, claim the experts.
Sursa: Financiarul [20.11.2008]
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Fivestar Hospitality Consulting 
