Room Rates Rising
According to recent research from PKF Hospitality Research, Atlanta, and Torto Wheaton Research, Boston, hotel room rates are not just on the way up, they're skyrocketing. While average daily rates slipped 6.4 percent from 2000 to 2003, the top 50 hotel markets covered by the study went up 3.7 percent in 2004 and are expected to rise another 4.7 percent this year. The most expensive cities in 2005 will be New York ($236.97), Honolulu ($143.36), and Boston ($132.86), compared to the top-50 average of $102.44.
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