Tracking Travel
At Last, Hotel Slump</br></br>Shows Signs of Easing</br></br>THE HOTEL INDUSTRY may be coming out of its worst slump in decades.</br></br>Industry figures show demand has risen and construction slowed, giving the industry a chance to work off a room glut left from years of overbuilding. But consumers, who had to endure poor service and shoddy rooms at some chains during the slump, may now face higher prices for the first time in many years.</br></br>Improvement in the lodging industry these days is measured in small steps. Occupancy rates rose 1.5 percentage points last year, the biggest increase since at least the 1970s, to 61.7%. Demand rose 4%, meaning 70,000 more rooms a night were occupied. "There's no question the industry is rebounding," says Mark Lammono, executive director of Smith Travel Research, Gallatin, Tenn., a consulting firm that collects industry data.