The Coming Bubble Could be Ugly
By Joel Ross , President at Citadel Realty Advisors
While revenue per available room exceeded what I predicted in 2012, it was primarily because some of what lies ahead is slower to arrive than I had thought. The bubble is growing, and unless Washington—and especially President Obama—act to reduce entitlements and overall spending and accomplishes true tax reform, the result of the bursting bubble someday will be very ugly. Published at by HotelNewsNow.
Joel Ross is principal of Citadel Realty Advisors, successor to Ross Properties, the investment banking and real estate financing firm he launched in 1981. A Wharton School graduate, Ross began his career on Wall Street as an investment banker in 1965. A pioneer in commercial mortgage-backed securities, Ross, along with Lexington Mortgage, and in conjunction with Nomura, effectively reopened Wall Street to the hotel industry.More from Joel Ross