Overseas Travel

According to many analysts, international travel will continue to strengthen the U.S. lodging market despite security concerns and greater restrictions. PricewaterhouseCoopers predicts overseas arrivals to the United States will increase by 3.1 percent from 2Q 2004 to 4Q 2004, reaching a level of 1.59 million arrivals in December 2004, as compared to recent troughs of 1.48 million and 1.49 million overseas arrivals in August 2002 and September 2003.