Before You Cancel That Meeting

Michael Dominguez, vice president, global sales, Loews Hotels, knows something about canceled meetings. In February 2008, hotel industry research firm PKF Consulting projected a 3 percent increase in revenue per available guest room (RevPAR) for 2008. The year closed with a 4.8 percent loss. That’s a pretty big swing, Dominguez says, and it is nothing compared to the 11.5 percent decline in RevPAR PKF now forecasts for the hotel industry for 2009. Much of the drop can be attributed to meeting