Hotels: The Current Situation and Future Probabilities

Mark Lomanno, president of Smith Travel Research, noted at the recent Industry in Crisis: Alternative Strategy Conference sponsored by HSMAI and the New York University Tisch Center for Hospitality, Tourism and Travel Administration that there were certain dynamics in the marketplace before Sept. 11 with demand having begun to decline five months prior. Lomanno also noted that as a result of September 11th, major metro areas are experiencing a greater negative impact, doing four times worse