2009 Hotel Negotiations: What to Expect
Will the economic slowdown mean lower rates for corporate buyers?
Michael Mannix
Vice President - CWT Solutions Group Asia Pacific
Will history repeat itself? A downturn in the economy has always meant fewer heads in hotel beds and in the past, properties have raised rates more slowly or even cut them, hoping to stimulate demand. Many travel buyers remember the rate slashing that occurred after 9/11 and are wondering whether the current economic context will make negotiations easier. They may be in for a surprise.