
Hotel closings are hitting record levels, but for all the right reasons! Unlike closings caused by the "great real estate depression" of the early 1990s, hotels are closing today in record numbers for major rehab and construction projects, conversions to condo hotel or residential condos, and expansion. The robust recovery in the hotel industry has brought plenty of business and leisure travelers willing to pay for a better hotel experience, or wanting to get in on the condo hotel boom. Hotel developers and owners increasingly find that construction is so extensive that it is advisable to close the hotel while the work is being performed. READ MORE