Las Vegas: Study predicts higher rates in 2004


Hotel room rates likely will climb in 2004, a national travel trade association study predicts, signaling a recovery in business travel and giving the gaming industry a much-needed shot in the arm.

Gaming analysts, however, remain only cautiously optimistic, saying the industry’s performance likely will remain lukewarm through the remainder of 2003. Goldman Sachs analyst Steve Kent said Las Vegas trends strengthened during the summer, but not convincingly enough to suggest that the industry is close to fully recovered.

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