Growth Slows for Hotels But Rates Remain High

The U.S. hotel industry, which has functioned as a well-oiled machine for the past few years, now is in the midst of a relative slowdown expected to last at least until the end of 2008, according to a report by industry tracker Smith Travel Research. While hotels' financial fundamentals remain strong and rates high--and there is no reason to believe their profit parade will halt--the current dip is evident.