Return to pre-downturn rate levels to take five years, says Sofitel COO

04 May 2010

Occupancy levels will return to levels seen prior to the economic downturn much sooner than room rates, according to Robert Gaymer-Jones, Chief Operating Officer of Sofitel Worldwide. 'What's happened is that there was a big dip in occupancy, so everybody dropped their rates. Now occupancies are returning to reasonable levels again, but rates are not going to return as fast. It's going to take somewhere around five years for rates to get to where they were,' he told AME.Info.com.

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