Current occupancy is a lagging indicator, representing stays booked, budgeted, and in some cases paid for, months ago. We are beginning to see slowdowns in many consumer discretionary areas as well as corporate cost-cutting measures being implemented in anticipation of a recessionary environment, so the current level of occupancy may not persist forever. The hotel chains have the data, which we do not, that enables them to look over the horizon at future months' bookings to date and determine if they believe that forward-looking demand is softening. This would presumably be a major input to the development of any promotion.


Agree with this!