PricewaterhouseCoopers Revises Lodging Forecast

PricewaterhouseCoopers predicts that revenue per available room (revPAR) for 2001 will decline 3.5 to 5.0 percent, the worst performance in the 33 years for which data is available. RevPAR had actually increased 3.6 percent in the first quarter, before a slide to a 3.6 percent decrease in the second quarter. The decline for the second half of the year is forecast in the 7 to 10 percent range.