The seller’s market may be softening—in some locations.
Marriott International's second-quarter profits fell by 24 percent and second-quarter profits at Starwood Hotels & Resorts Worldwide fell by 16 percent. Planners want to know: Is the long-running hotel seller's market finally over? It all depends on the location, says Bjorn Hanson, clinical associate professor at New York University's Tisch Center for Hospitality, Tourism, and Sports Management. “Markets like New York still have occupancy rates of over 80 percent. It's still a seller's ...
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