Price hikes accompany hotel mergers.
In the hospitality industry, size matters. A record $24.8 billion worth of hotel mergers were consummated last year, and the new megachains raised room rates simultaneously.
Pannel Kerr Forster Consulting (PKF), a San Francisco-based hotel and hospitality consulting firm, reports that the average business travel hotel rate climbed to $105.76 last year, up 7.7 percent from the previous year.
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