New York panel reaffirms prolonged downturn | hotelnewsnow.com

Yesterday, Proskauer Rose LLP and Ernst & Young held a seminar attended by many of the top New York-based people in the industry. Here are the summary results of the panels, which mirrors what I’ve been saying in this column for the past several weeks: 1. Nobody is willing to predict the next year, but the consensus was RevPAR will be down 15 percent to 20 percent, or maybe more than 20 percent, in 2009. 2.