In a fresh sign of weakness in the hotel sector, the number of guest rooms abandoned in the construction pipeline rose 75% in November, compared with the same period a year ago, according to Smith Travel Research. A hotel project is deemed...
The capital markets meltdown and plunging economy have conspired to kill the most prolific casino hotel expansion ever. Struggling with liquidity concerns and plummeting earnings, gaming and lodging companies are halting projects midway through...
The capital markets meltdown and plunging economy have conspired to kill the most prolific casino hotel expansion ever. Struggling with liquidity concerns and plummeting earnings, gaming and lodging companies are halting projects midway through...
The coming year is shaping up to be a dark hour for the lodging industry. In 2002, in the aftermath of the terrorist attacks on 9/11, average hotel occupancy in the United States fell to 59%, the lowest level since Smith Travel Research started...
Developers are adding to the global supply of hotel rooms at an astonishing pace even as per-room revenue and occupancy rates decline for most of the world...