Study: Hotel-improvement spending will increase

09/6/2011 | Los Angeles Times (tiered subscription model)

A study released by Bjorn Hanson, a dean at New York University's Preston Robert Tisch Center for Hospitality, Tourism and Sports Management, predicts that the U.S. hotel industry will spend about $3.5 billion on hotel expansions and upgrades, rising 30% from last year's figures. Hotel owners reduced expenditures for development to $3.3 billion in 2009 because of the recession and cut back further the following year by $2.7 billion, Hanson's report shows.

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