Expert: Slumping economy could spell tough times for hotels, retail

06/24/2008 | Reuters

Hospitality and retail could face tough times ahead if the U.S. economy continues to fall, according to a commercial real estate expert. Scott Schwartz of Marathon Asset Management said commercial real estate prices could drop 10% to 20% from last year's peak, and while foreign tourists keep larger markets going because of the weak dollar, hotels in smaller markets look more vulnerable.

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