As declining revenue drives down prices, luxury hotels will become the most aggressively pursued acquisitions in the lodging industry, said Arthur Adler, CEO for the Americas at Jones Lang LaSalle Hotels. The luxury hotel sector is the most challenging part of the industry, he said. "Luxury hotels have suffered the most," Adler said. "The possible discounts, if properties come to market and trade, will be greater in this sector than in others."

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