Global Hyatt exec says travel managers avoiding leading hotels

04/20/2009 | Forbes

John Wallis, senior vice president at Global Hyatt, says the market for top hotels won't start recovering until 2011 as corporate travel managers avoid luxury accommodations. "Many companies are canceling reservations because managers don't want to be seen in a luxury hotel while they are perhaps laying off thousands of people or taking advantage of state aid," Wallis said.

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