By Joe Brancatelli
Throughout 2009, the hotel industry was awash in waves of property openings just as occupancy rates and nightly room rates were collapsing. That was an accident of timing since the hotel pipeline tends to be planned 2-3 years in advance and can’t be plugged when business turns south.
But 2010 will be much different.
A lot of projects have been halted in the planning stage, and there are some empty holes out there that were going to be hotel foundations. And the flow of properties has definitely slowed down.
Here’s what’s new lately:
A 129-room Homewood Suites La Quinta, California, has reopened after closing in August due to financial problems.
Joe Brancatelli is editor and publisher of JoeSentMe.com, a non-commercial Web site for business travelers. Copyright 2009 by Joe Brancatelli. Licensed by contract for Orbitz use.