Cancelled Renovations: What's a Planner to Do?

It's no surprise that the one-two punch of the September 11 terrorist attacks and the stagnant economy has slashed the number of hotel development and renovations projects scheduled for 2002. Marriott will open 125 properties this year, vs. 170 in 2001; Renaissance Hotels & Resorts will open only 10 hotels in the coming year; and Starwood Hotels has also reported a slowdown.