Resorts Lure Vacationers Pinched by High Fuel Prices And Cuts in Airline Service
Cash-strapped travelers may finally get a break on rising hotel prices this fall -- courtesy of airline cutbacks and high gasoline prices.
Airlines' service cuts and rising fuel costs have damped travel demand to several popular resort destinations. That has spurred some hotels to offer plentiful deals and to temper rate increases to woo reluctant vacationers -- an about-face from recent years, when soaring demand for hotel rooms led to record room-rate increases.
U.S. hotel room rates overall are still predicted to rise slightly this year. That is partly because of continued strong demand in urban markets and the weak U.S. dollar, which has been attracting more travelers from overseas. Average room rates are expected to rise about 2% this year, according to PKF Hospitality, a hospitality industry researcher.
External Source - For the complete article click here
Source - WSJ
Logos, product and company names mentioned are the property of their respective owners.
