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Take Off the Rose-Colored Glasses

Published Thursday, February 01, 2007

Last month's Americas Lodging Investment Summit in sunny Los Angeles had a schizophrenic feel to it. On one hand, 2,500 smug hoteliers, investors, lenders and owners crammed into the Hyatt Regency Century Plaza to revel in the hotel industry's current good fortune: rising RevPARs, high profits, low supply growth and tons of capital. Could life be any sweeter? Yet, an undercurrent of ennui seemed to wend its way through the crowd of dark suits and power ties. The second question most people asked each other as they met was, “How long will this bull hotel market last?” (The ...

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