Hotel Development Dives Across Globe | globest.com

As the financing freeze spreads across the globe, hotel development has come to a virtual halt. Even areas that were once considered immune from the global credit crisis, such as the Middle East, are beginning to witness a diminished pipeline. In its Q3 ’08 report on Europe, the Middle East and Africa, Portsmouth, NH-based Lodging Econometrics counted a total construction pipeline of 1,656 projects with 358,067 rooms, a drop of 6% and 4%,...