Gulf builds hotels worth $140 bln amid crisis-study | guardian.co.uk

Gulf Arab countries have more than $140 billion worth of hotel projects under construction, with just 19 percent being suspended or canceled as the industry faces a global slowdown, a survey showed on Sunday. Of 893 hotel projects surveyed in the Gulf, 5 percent had been canceled, 14 percent put on hold, and 42 percent were under execution, showed the survey by research house Preloads Global.