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Interesting Wall Street Journal Article


TUG Review Crew: Expert
TUG Member
Mar 27, 2008
Reaction score
Resorts Owned
Hyatt Highlands Inn, Hyatt Pinon Pointe
For those of you who subscribe to the Wall Street Journal, check out today's article on the luxury hotel industry in the Marketplace section. The article focuses on a new luxury hotel opening in Los Angeles which will be managed by Starwood.

What struck me was this statement: "The entire hotel sector has entered the initial stages of one of the deepest and longest recessions in the history of the domestic lodging industry", according to PKF Hospitality Research. The article also stated that "high end hotels saw a decrease in occupancy rates to about 61% from about 74% and a nearly 20% drop in revenue per available room during the first week of December", according to Smith Travel Research.

My takeaways from these statements:

* The downturn in the high end sector of the hospitality industry is still in its early stages.
* Things will get worse--perhaps much worse--before they improve.
* Those hotel companies which are well-capitalized will be in a strong position to weather the storm. Those who are heavily debt-laden may not survive.

I'm not sure this is anything that most of us don't already know, but I did think the article was revealing in its tone and severity.