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Full Impact of Slump Still to Come

Published Monday, September 14, 2009

The U.S. lodging industry finds itself in uncharted waters due to a global economic and financial crisis that has taken a severe toll on the net operating income (NOI) of hotel owners, setting the stage for a wave of loan defaults and foreclosures. Why such a dire prediction? PKF Hospitality Research forecasts a 39.1-percent decline in NOI for the typical U.S. hotel this year, the biggest drop on record since it began tracking hotel data in the 1930s. “That 39.1-percent decline has some devastating consequences for loan defaults,” says Steve Van, president and CEO of Dallas-based ...

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