Hotel deal volume to drop further in 2009-report | reuters.com

The volume of global hotels changing hands, which fell 80 percent in 2008, will drop further this year to levels last seen between 2001 and 2003, according to a report on Monday from real estate services firm Jones Lang LaSalle. The group found that $23 billion worth of hotels changed ownership in 2008, down from $113 billion in 2007, as the credit crisis and the global economic slowdown took hold.