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Hotel CEOs Warn Of Corporate Rate Increases

By Julie Sickel

New York City – Group demand at U.S. hotels continues to grow, and corporate travel buyers should expect significant rate hikes in this year’s request-for-proposals season as a result, top hotel executives said Monday at the New York University International Hospitality Industry Investment Conference.

Hilton Worldwide president and CEO Chris Nassetta put it frankly when asked what buyers should expect in negotiations: “To pay more.”

“If we were mid-single digits last year,” he said, ”it should be high single digits next year. We have a better group base, so there’s more leverage.”

Read full article here from Business Travel News

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