Is the long-running hotel seller's market finally over?
It all depends, says Bjorn Hanson, clinical associate professor at New York University's Tisch Center for Hospitality, Tourism, and Sports Management, and former hospitality and leisure group principal for PricewaterhouseCoopers. “It's certainly much more of a buyer's market than we've seen since 2003 or 2004,” Hanson says. “But it's complicated. Markets like New York still have occupancy rates over 80 percent, which means close