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By Jim Butler and the Global Hospitality Group®
Hospitality Lawyers | Authors of www.HotelLawBlog.com
30 August 2009
This is one of many articles on the subject of "troubled hotel loans - workouts, bankruptcies & receiverships" in the rich library at www.HotelLawBlog.com.
Hotel Lawyer with some bad news for the luxury hotel segment.
From some reactions, you might think that the likely "End Of The Recession" by the end of 2009 means that the "Recovery" is close behind.
Unfortunately, what follows next will not feel much better for many for a very long time. Nowhere is that more true than in the luxury hotel segment, where Smith Travel Research foresees a 27% drop in RevPAR for 2009 followed by another 9% in 2010!
Here are a few of the most interesting slides from Smith Travel Research and other industry sources since August 20, 2009, focusing on the luxury hotel segment. How bad are things? How bad are they likely to get from here? Fasten your seat belt!