Search
 

Darkness Before Dawn for Hotels

NEW YORK CITY-A GlobeSt.com Webinar panel expects rough times leading to recovery in 2010.

By Carl Cronan | Updated on October 22, 2008

NEW YORK CITY-The nation’s lodging industry is in for more difficulty over the next several quarters, yet a moderate recovery is expected in 2010. That’s the consensus of a group of industry experts participating in Wednesday’s GlobeSt.com Webinar titled “Hotel Operations: Solid Gold Strategies for Your P&L,” sponsored by Real Estate Forum Magazine .

The five panelists participating in the hour-long discussion, moderated by Real Estate Forum senior editor Maria Wood, presented their insights on a range of topics, from overcoming downward pressure on room rates to attracting companies facing tighter travel budgets. They added that development of new rooms is being slowed by the ongoing credit crunch, which could help hotel chains maintain occupancy.

“There’s no question that the horizon is getting darker out there,” says Mark Woodworth, president of PKF Hospitality Research. He pointed to various slides during the presentation showing continued declines through the remainder of 2008 and into 2009, with a rebound the following around mid-2010.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.