US: Hotels Face Challenging Year, Good News for Travelers? | wsj.com
Hotels are the first sector in the commercial real-estate market to feel the economic pinch, and next year will be a challenge for hotel owners and operators. The foundering economy likely will limit both business and leisure travel. Even international travel to the U.S.– a bright spot so far this year for gateway markets such as New York — is expected to “moderate” due to the weakening global economy, the recent gain in the value of the U.S. dollar, and the cancellation of many long-haul flights to the U.S., noted analysts at Green Street Advisors.
