Last November, the National Governors Association concluded that cities and states are facing their worst budget crisis since World War II. The result is a kind of triple whammy for the hospitality industry.
The lower hotel occupancies of the last two years have reduced revenues, cutting, sometimes deeply, into occupancy taxes — the lifeblood for most convention and visitors bureaus. Meanwhile, many expanded or new convention facilities are coming online in a post — 9/11 climate. The