Recession depresses hotel starts, sales

06/1/2009 | Reed/ACP Construction Data

Last year's high number of rooms delivered to hotels and the recession are wiping out operating profits and depressing property values for the hotel sector. This comes on top of the disappearance of debt capital. For hotel developers, these factors mean many planned projects are being abandoned, while those under way are being canceled or slowed down.

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Reed/ACP Construction Data