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Lodging Industry in for a Tough 2009

SAN DIEGO-A survey sent out to past and current ALIS delegates found that 47% of respondents believed an economic turnaround in store for the lodging industry in 2010 and beyond.

By Maria Wood | Updated on January 26, 2009

SAN DIEGO-Expect 2009 to be a tough year for the lodging industry. That was the message that kicked off this year’s Americas Lodging Investment Summit, held here.

James E. Burba, chairman of ALIS and president of BHN, recalled that at last year’s conference, the attendees “knew something was happening, but we didn’t expect it to be this bad.” Therefore, the focus of this year’s event was the outlook for 2009 and thereafter, he said.

A survey–sent out to past and current ALIS delegates before the conference began–found that 47% believed an economic turnaround was in store for the lodging industry in 2010 or beyond. No one thought a recovery was possible in the first quarter of this year and only 5% foresaw a rebound in the second quarter. Yet, 21% and 27% predicted a recovery by the third and fourth quarter of ’09, respectively.

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