Developers pressed ahead despite economic downturn

04/8/2011 | HotelNewsNow.com

Hotel supply grew significantly during the mid-2000s, when financing was readily available. As many of the hotel projects were opening, the economic downturn struck, resulting in decreasing demand and increasing supply. Although the recession might have discouraged some hotel developers, others remained optimistic and pressed ahead. The result is that there are more hotel rooms now than there were five years ago, before the downturn.

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