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Buyer's Market in Sight

Business conditions are tough for hotels, but the seller’s market is still strong in major markets.

Early in July, the hospitality industry was rocked by Marriott International's announcement that second-quarter profits fell by 24 percent and that revenue per available room (RevPar) would decrease by 1 percent in the United States in 2008. Two weeks later Starwood Hotels & Resorts Worldwide lowered its annual revenue projections and announced its second-quarter profits had fallen by 16 percent.

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