Hotel market seen rebounding in 2010

Some hotel investors are cautiously returning to the market and suggest 2010 might be a good time to buy hotel properties. "We are planning to get active once the market heats up, and I think there will start to be some pickup in activity in 2010," said Leslie Ng, chief investment officer of Interstate Hotels & Resorts. The hospitality sector has "extremely good" prospects for 2010 and 2011, though room rates remain a concern, said Glade Knight, chairman and CEO of the Apple REIT Companies.

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American City Business Journals · RichmondBizSense.com (Va.)

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