The past few years have had hoteliers feel like “canaries in the coal mine” as businesses and valuations plummeted. According to the New York Times, things are starting to look up with recent movements from private equity firms as strong signals of change.
An example? The imminent arrival of Virgin Hotels in the marketplace looks quite promising; helping increase REVPAR forecasts with a gradual shift from a buyers’ to a sellers’ market. There are now over 40 major lodging investors rapidly buying up whatever they can grab. In addition to this, the statistics from July 2010 show 102 million room nights sold; the most ever sold in a single month. The lodging industry looks poised for a full-fledged recover.
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