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Downsizing, travel freezes, and facility closings have made the climate bleak for hotels in northern Delaware, but a slowdown in the introduction of new supply should help shore up penetration levels when business activity and demand growth resume.
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A sluggish national economy hasn’t held back growth in Center City Philadelphia, where expansions of business, tourism, and the convention center bring on a need for new hotels.
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Unemployment rates are surging, global stock markets are crashing, commodities are collapsing, and the real estate bubble has finally burst. What moves can hotel developers make during the downturn?