Strategic Hotels braces for a further decline in luxury bookings
Public criticism of business travel is driving the decline in luxury occupancy at properties owned by Strategic Hotels & Resorts Inc., said CEO Laurence Geller. Criticism of corporate travel by President Barack Obama and Congressman Barney Frank hit bookings hard and fast, he said. "It was almost as if something turned the spigot off," Geller said.
Bloomberg | 07/15
This story published in Real Estate Investment SmartBrief on 07/16/2009
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