"The American economy and citizens will surprise the world with our resilience…The lodging industry may resist further declines in revPAR in 2002," read a research briefing from PricewaterhouseCoopers, released September 12, 2001. Seven months later, the statement seems more prescient than optimistic: Despite a challenging first-quarter for the U.S. lodging industry, Mark Lomanno, president of Smith Travel Research, says, "We believe the stage is set for improved industry performance for the ...

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