L.A. Hotel Business Holding Up But Demand Is Softening
An annual report on the hospitality sector shows occupancy slipped last year while room rates rose 5%.
Los Angeles Times
Los Angeles County hoteliers are faring better in the economic downturn than their counterparts in other markets, but 2009 is still going to be a challenging year, a report released Thursday said. The Los Angeles hospitality market, the fifth-largest in the country, outperformed other major markets in occupancy and revenue in 2008, according to an annual report by consulting firm Ernst & Young based on data collected by Smith Travel Research.