Sellers market likely to continue for a while

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That's the bright side of this depressing bit of news from PFK: PKF Says Current Decline in the U.S. Lodging Industry Will be Deeper and Last Longer than Previously Predicted. Some cities will see declines less than others, but it sounds like pretty much everyone in the U.S. hotel business is going to feel some pain this year. From the release:

    The PKF-HR March 2009 national forecast calls for a 13.7 percent decline in RevPAR during the current year, representing a downward revision to the 9.8 percent decline anticipated earlier this year, a time when the economic outlook was not quite as severe. The revised 2009 forecast is the result of a 7.8 percent fall off in occupancy and a 6.4 percent drop in Average Daily Rate (ADR) for the year.

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