Airlines and hotel forecasters are responsible for this morning's -- well, perhaps every morning's -- grim news.
Delta Air Lines reported its earnings, or make that its losses, early today -- $1.4 billion in the fourth quarter and a whole lot more for the year. Around the world, consumers have lost confidence in their spending power and are cutting back on air travel. The International Air Transport Association says at least half of the world's cariers expect a decline in profits in 2009.
On the hotel front, Pricewaterhousecoopers today forecast an 11l.2 percent decline in revenue per available room for U.S. hotels in 2009, after a drop of 1.9 percent last year. That's the standard measure of productivity in the lodging business. More on that story as we find it.