Walter: Hotels still in good place of the recovery cycle

02/25/2013 | CNBC

The hotel industry's recovery will continue even if sequestration goes into effect, says Host Hotels and Resorts CEO Ed Walter. The supply pipeline is very low with construction at levels less than 50% of the long-term average, he says. "Until we see new supply accelerate above the long-term averages, which are slightly above 2% a year, I think the cycle's going to be extended," Walter says.

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