The good news for Marriott and Starwood is they're not alone. Both companies announced falling profits earlier this month, but last week it was Choice Hotels and Wyndham Worldwide lowering projections.

Wyndham, despite a second-quarter profit gain of two percent, lowered its earnings outlook for 2008. The company's revenue guidance is now between $4.53 billion and $4.63 billion for the year, down from an expected $4.8 to $4.9 billion.

Choice reduced its earnings outlook as well because of projected third-quarter RevPAR losses. Choice expects its full-year earnings per share to total $1.79, down from the forecasted $1.87. The hotel franchisor expects a four-percent drop in RevPAR in the third quarter and a 1.5-percent drop for the year. Choice had previously expected a two-percent gain for the year.

Choice exceeded Wall Street's expectations for the second quarter, but earnings fell six percent in large part because the company took an extensive charge after speeding up the transition of new CEO Stephen P. Joyce.