Hotels Maintain Recovery Amid Economic Worries

　　Even in a lackluster economy, corporate and leisure travel business is doing well. Right now, demand has slowed in Europe, but the effect is neither drastic nor consistent across the region. Business in many emerging markets continues to grow.

　　At the end of each fiscal quarter, the industry waits with bated breath in the few weeks that follow for public companies and data analysis firms to release the results from the previous three months.

　　The economic issues brought to the forefront in the third quarter this year stoked fears of the worst – a double-dip recession – threatening to undermine the positive growth in demand, occupancy, transaction velocity and property pricing, and yes, even rate. From the U.S. debt ceiling debate debacle, which subsequently led to an S&P credit downgrade, to continuing volatility in the European financial markets, positive pieces of global economic news have been few and far between.

　　But, on the bright side, third quarter statistics from across the hotel and gaming industries remain encouraging. That’s not to say we’re going to see the anomalous levels from 2007 again – which is always an unfair comparison since that environment was such an aberration – or that we can put on our party hats to celebrate universal profitability. However, evidenced by the results shared over the past couple weeks, the hotel business continues its consistent climb back to healthy levels.