Best Western CEO: Slowdown on the way in hospitality

09/6/2007 | Reuters

A deceleration in the economy is going to cause a reduction in hotel demand and a slowdown in hotel rate growth, according to Best Western International CEO David Kong. In an interview with Reuters, Kong said he expects the changing economic climate to cause travelers to become more budget-conscious. "I think there's going to be a shift from those deluxe upscale chains down to those midscale chains, which is Best Western," he said.

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