>Smith Travel Research (STR) dramatically shifts U.S. forecasts

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>The situation in the hotel industry might be starting to stabilize, but the executives at Smith Travel Research aren’t convinced there’s sunny skies on the immediate horizon. In fact, the usually optimistic STR has joined other prognosticators in releasing a revised forecast and it paints a fairly bleak picture for the rest of 2009.
The revised forecasts for the rest of the summer season, for the remainder of 2009 and for 2010 are part of a new STR program that will update the forecasts each month. Mark Lomanno, STR’s president, said it’s important that forecasts be updated and delivered on a regular basis because it allows the industry to better understand where the numbers come from.

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