Hotel
Reduced Credit Availability Stalls Hotel Construction
As hotel owners and investors continue to fight a slowing economy and the declining availability of credit, the lodging industry faces a number of challenges that it hasn’t seen since the months following 9/11. ...
New JV Buys Phoenix Hotel for $96 Million
Strategic Hotels and Resorts Inc. has sold the Hyatt Regency Phoenix for $96 million. ...
PKF Predicts ‘Double Dip’ in Slowed Lodging Demand
CHICAGO – The current slump in the U.S. lodging industry is going to last longer and cut deeper than the 1991 and 2002 recessions, predicts PKF Hospitality Research....
Hotel-Condos: A Broken Promise?
Summertime in Las Vegas might be more scorching this year than usual due to the heat from a growing number of condo hotel lawsuits....
Will ‘Staycations’ Bolster Midwest Hotel Market?
Although the Midwest continues to be hammered by the economic slowdown and heavy losses in manufacturing jobs, there may still be reason for optimism in the hotel sector. ...
Trump: Greatest Real Estate Opportunities Have Moved Overseas
Once the place for the world’s great investors to park their money, the United States is no longer the kingpin for generating business opportunities and has lost respect around the globe, says famed real estate developer Donald Trump, who is convinced that the situation is not irreversible....
High Cost of Capital Drives Down Hotel Values
NEW YORK — Hotel values are dropping even as net income in the industry rises. The value per hotel room in the United States fell from $95,000 in 2007 to $91,000 in 2008, according to Stephen Rushmore, president and founder of Mineola, N.Y.-based HVS Hospitality Services, who spoke at 30th annual New York University International Hospitality Industry Investment Conference....
Is Worst of the Downturn Past?
NEW YORK — The economy and gas prices are affecting hotel demand. For every 10% increase in gas prices, there is a correlating 0.5% decline in hotel demand, says Bjorn Hanson, a hospitality and leisure researcher for PricewaterhouseCoopers. ...
Weak GDP Forecast Puts Strain on U.S. Hotel Market
NEW YORK — As gross domestic product goes, so goes the U.S. hotel industry. The two are inextricably linked. Just ask J. Willard Marriott Jr., chairman and CEO of Marriott International Inc., who in his illustrious career has weathered at least six economic downturns....
Hotels Most Vulnerable to Recession Scenario
Is the U.S. economy in recession? That question is a matter of debate based on the responses of two prominent real estate experts during a recent Webinar on the outlook for the economy and real estate....
