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Proving Your Worth

Published Friday, March 20, 2009

Everywhere we turn, headlines tell the troubles of the economy. The hotel industry is in a severe recession and facing increased headwinds from consumers focused on personal savings and business travelers under fire from government and the media. Unlike previous downturns when the industry was buoyed by resilient demand that snapped back more quickly, the industry also faces new supply absorption challenges on top of the demand fall-off. Does this mean hoteliers with plans for growth need to hold tight and wait for a rebound in 2010 or beyond? Not necessarily.

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