Reed: Sequestration has had an impact

07/11/2013 | REIT.com

Government cutbacks in spending and sequestration have had an impact on the hotel and meeting industry, says Colin Reed, chairman and CEO of Ryman Hospitality Properties. He notes that government spending cutbacks led to between 12,000 to 15,000 room nights canceled for the REIT this year. That said, the outlook overall is good for hospitality thanks to tourism and foreign travel.

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