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Downtown Hotels Cutting Rates To Lure Business

The recession has been crashing the downtown Boston hotel market. The average room rate has already fallen by as much as fifteen percent so far this year.

There have been some deals lately you haven't seen in Boston for a long time. Try the Park Plaza Hotel & Towers for $99 a night. The economic downturn has been hurting high-end hotels the most, says Reed Woodworth, who heads the Boston office of PFK Consulting.

"So we have not only the decline in travel but a disincentive for people to be staying in a high-end property that's not required for people to be able to get their business done," Woodworth says.

Woodworth says it could take as long as two years for Boston hotels to reverse this negative trend. The winner, he says, is the leisure traveler, who's now getting downtown digs for what used to be Route 128 rates.

This program aired on April 6, 2009. The audio for this program is not available.

Curt Nickisch Twitter Business & Technology Reporter
Curt Nickisch was formerly WBUR's business and technology reporter.

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