Group business was the driver of the horrendous year that the hotel industry experienced in 2009, and leaders on a general-session panel at the Americas Lodging Investment Summit don’t see any hope of a recovery until that same business returns.
“The biggest surprise for us was the unbelievable decline in group declines and cancellations,” said Ed Walter, president and CEO of Host Hotels & Resorts. “That’s one of the things we typically count on to prop up our performance.”
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