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Bottom soon to come for hotel industry

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The U.S. hotel industry will hit the bottom of its current cycle soon, according to a Hotel Horizon report released today by PKF Hospitality Research. The report predicted that revenue per available hotel room, or revpar, will hit the low point of the cycle in the third quarter of this year. The industry’s declines will likely total 17.5 percent in 2009, making it the weakest year on record, with a subsequent 3.5 percent decline in 2010. TRD

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Hotel Market