Lodging
Stronger corporate travel trends will help major U.S. hotel markets achieve positive growth during 2007, according to the latest Ernst & Young lodging report
. "Business travel has strengthened significantly in the last 12 months thanks to lower domestic airfares as well as corporate travel departments lowering costs through advance ticket purchases," said Michael Fishbin, national director of the Ernst & Young U.S. Hospitality & Leisure practice. "This, in turn, has led to strong demand for hotel rooms, pushing up prices, in traditional corporate destinations such as Manhattan, Chicago, San Francisco, Los Angeles and Boston." For the remainder of 2007, Ernst & Young expects moderate supply growth, stable occupancy rates and overall average daily rate increases of 6 percent.