Terranea Resort in LA Open in Challenging Times | nytimes.com

Last month, their $480 million hotel, the Terranea Resort, opened for business. But how much business remains to be seen. After 12 years of planning, the hotel, with 400 rooms and extensive recreational facilities, made its debut in what Mr. Lowe called “the most challenging market since World War II.” “People are still traveling,” he said, “but they’re shopping very carefully.