Hotels start to bounce back.

• Position: Business Travel - From severe acute respiratory syndrome and war in Iraq

Hoteliers, airlines and tour operators have suffered this year as slowing economies, the outbreak of severe acute respiratory syndrome and the war in Iraq deterred people from travelling. These factors extended a sales drought started by the terror attacks on the US in 2001, creating the worst slump the industry has seen since the 1930s.

InterContinental Hotels Group and Marriott International, the world's second and third-largest hotel companies, both say they expect a rebound in demand for their rooms to be delayed until next year.

JW "Bill" Marriott Jr...