Market report: Los Angeles
By Patrick Mayock | hotelnewsnow.com
Demand probably has hit bottom in Los Angeles, but rates might still have a ways to go in what looks like a challenging immediate future for one of the country’s biggest hotel markets. The market posted an 11-percent decline in demand in 2009 through July, according to data compiled by Smith Travel Research. The drop in rate was slightly less at 10.8 percent.