Hotels are full, but downturn still taking its toll
The Washington Business Journal reports: As the hospitality industry across the country struggles with plunged consumer confidence and spending, some hotel investors and developers face the same challenges as their office and retail counterparts: scarce financing, steep losses in stock prices, declining asset values and timid buyers.
The flurry of local hotel ownership changes in recent years — 16 deals in 2005 alone, according to New York research company Real Capital Analytics Inc. — had been so frenetic the city issued a pamphlet to help cabbies decode the name changes and deliver passengers to the right hotel.
View the full article on The Washington Business Journal: Hotels are full, but downturn still taking its toll
Posted by: Nina Turner