STR: Hotel conversions on the rise amid construction slowdown

07/17/2013 | HotelNewsNow.com

STR reports that hotel firms are once again turning to hotel conversions to drive their expansion efforts as supply growth continues its downtrend. "Given that the existing credit availability for new construction is still depressed, STR forecasts less than 2% supply growth in the coming 24 months. This lack of supply growth should fuel the ongoing conversion activity for some more time to come," says Jan Freitag, senior vice president of global development at STR.

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