NEW YORK – Hoteliers embodied a variety of feelings concerning the state of the business in the course of the first day of the forty fifth annual NYU Worldwide Hospitality Business Funding Convention.
Many convention attendees on the New York Marriott Marquis remained optimistic concerning the working surroundings with continued robust journey demand heading into the busy summer season season. However some cited early indicators of a slowdown in future bookings as trigger for concern.
And much more had been overtly apprehensive concerning the financing surroundings, with banking upheaval drastically decreasing the accessible capital for transactions, refinancing and —most dramatically — new development. Each cloud has a silver lining, although, as the potential for a long-term slowdown in provide development may assist buoy the working surroundings even when demand development begins to reasonable.
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