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Archive Home > 2008 > August > 03 > Hotel boom meets a new reality

Hotel boom meets a new reality

With occupancy rates way down but new hotels going up at record pace, the industry is left with far less profit

By Abha Bhattarai and Fred A. Bernstein / The Bulletin
August 3, 2008

A record number of hotels are opening this year, and the timing could not be worse.

High gasoline prices and a slumping economy have put a damper on leisure and business travel. Airlines have been cutting service and raising fares. While new hotels open, occupancy rates are falling across much....

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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.