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Hotel Owners/Operators Optimistic Despite Slow January

NEW ORLEANS-These still-soft fundamentals have not deterred capital sources, who appear willing to dip their dollars in the industry, according to hotel leaders at Hilton Hotels Corp.'s Focused Service Conference.

By Maria Wood | Updated on January 30, 2004

Maria Wood is senior editor of Real Estate Forum magazine.

NEW ORLEANS—Despite a sluggish opening month to 2004, a panel of hotel operators and owners expressed optimism that the rest of the year will show stronger results at their properties. The panelists took part in a franchisee roundtable held during Hilton Hotels Corp.’s Focused Service Conference, held here for owners and operators of the company’s limited-service brands, such as Hampton Inns, Hilton Garden Inns and Homewood Suites. More than 3,000 people attended the event, which ended Thursday evening.

Ron Kendall, president of Buffalo Lodging Associates, in Stoughton, MA, said that although indications were that 2004 would get off to a good start, January was “disappointing,” with 18 of the firm’s 24 hotels performing “less than I had hoped.” He added that there is still a great deal of pressure on rates. However, he stated that the fourth quarter of 2003 was good, an indication that the rest of 2004 would not follow January’s lead.

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