IHIF: Global hotel leaders sound off | By Patrick Mayock | hotelnewsnow.com

The global economic crisis has forced leaders to examine every aspect of their businesses, and hotel executives are no different. But while such introspection is usually done behind close doors, the task was brought center stage Tuesday at the International Hotel Investment Forum. The first order of business: the state of the market at hand. “We’re in a tough spot as an industry. There’s no question,” began Andy Cosslett, CEO of InterContinental Hotels Group. Marriott International’s Arne Sorenson was a bit grimmer. The company’s EVP and CFO (and soon to be president and COO effective 1 May) said “it will be the worst (revenue per available room) the industry has ever recorded.”