Ga$ Up, Room Rates Next?

The economy and gas prices are affecting hotel demand, but are they affecting room rates yet? For every 10 percent increase in gas prices, there is a correlating 0.5 percent decline in hotel demand, said Bjorn Hanson, a hospitality and leisure researcher for PricewaterhouseCoopers, at the 30th annual New York University International Hospitality Industry Investment Conference, held in June in New York.