NYU Hospitality Conference: Upscale CEOs Decry Rate Reductions | btn.com

Corporate hotel rates recently negotiated downward are unlikely to increase anytime soon, said several multibrand hotel company CEOs this week at New York University's International Hospitality Industry Investment Conference. Noble Investment Group senior managing principal and CEO Mitesh Shah said on Monday the length of the current economic downturn, now in its 18th month and already longer than most recent lodging industry downturns, meant it would take time for hotel companies to bring corporate rates back to the levels reached in 2007.