For the hotel industry, recovery is a long way off
November 26, 2009 | Hospitality Industry
As the NYT writes, there is caution requested in evaluating small recent indicators that might mean better times ahead for the hotel industry. While some industry experts already proclaim that we have finally reached the bottom of the downturn, nobody knows how long we may stay on the buttom?
On Monday, for example, the hotel investment services firm Jones Lang LaSalle Hotels released a survey showing that investors saw some signs of improvement for hotels, but not for at least a year.
For business travelers that means hotels will remain a buyers’ market, especially as they continue to discount rates. But because hotels have cut spending on staff, maintenance and renovations, it means the general quality of the hotel experience could continue to decline.
Get the full story at The New York Times
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