1/19/2010

When business travel plummeted in response to the financial crisis last year, W. Edward Walter, president and CEO of Host Hotels & Resorts, responded by looking for new ways to generate revenue. "When you lose demand in one area, you try to find other sources of business to replace it," he told REIT magazine. "One example of this is that hotels are going after more leisure business. Not all hotels can do this, but it is one reason we saw transient business stabilize over the summer."

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REIT magazine

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