In 1991, Darryl Hartley-Leonard, then president of Hyatt Hotels, warned hoteliers to "survive til '95" in a keynote speech at the American Hotel and Motel Association annual meeting. He accurately predicted that the overbuilt hotel market, coupled with an oncoming economic recession, would mean hard times for the hotel industry, but better rates for meeting planners. Hartley-Leonard now says his friend and former competitor, Bill Marriott, half-jokingly accused him of bringing on that ...

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