Expedia Says Hotel Prices to Decline Through 2010 Sept. 15 (Bloomberg) -- Expedia Inc., the biggest Internet travel agency, said an “overhang” of hote

Sept. 15 (Bloomberg) -- Expedia Inc., the biggest Internet travel agency, said an “overhang” of hotel rooms being built will depress prices through 2010 following the biggest first-half drop in room rates since in at least five years.
New York overtook Las Vegas as the U.S. city with the fastest growth in hotel room capacity, Expedia’s Hotels.com said in a report. Thirty-eight hotels will open in the city this year, increasing the number of rooms by almost 8,000. First-half occupancy rates fell 5 percent.

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