Hotel prices to drop at slower rate next year

Hotel room prices are expected to drop a total of 8.8 percent this year compared to 2008 and will continue creeping down in 2010, though at a much slower rate, according to a lodging forecast from PricewaterhouseCoopers Hospitality & Leisure Practice. Big hotels like the Fontainebleau in Miami have jacked up the supply of hotel rooms, while the soft economy has weakened demand.