GlobeSt.com: The message I'm getting is that even ifthere is a recession--and an increasing number of people are sayingit's here--the hotel sector shouldn't feel it greatly. Whynot?
Fishbin: A couple of reasons. When we look atdemand we also look at the economy and demographics, and there arereams of statistics out there focusing on the age and wealth of ourpopulation, their aspirations and leisure experiences. There are anumber of factors that support the demand for travel. On top ofthat--and this favors key cities and resort markets--is thedevaluation of our dollar, so international travel plus domesticdemand strongly favors the continuation of demand for lodging. Andone of the things that's different about this slowdown, and we arecalling it a slowdown rather than a recession . . .
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
