Several markets in the United States rely heavily on government demand. Changes in the way allowances for government travelers are established can turn markets, for better or worse.
In my 30-plus years in this industry, I’ve occasionally seen the issue of unethical behavior rear its ugly head. In the management-company world, the unethical behavior I’ve most frequently seen is like a form of bait and switch.
Prior to the events of September 11th, the market was performing at levels on par with 2000; however, since September 11th the market occupancy declined somewhat.
During the late 1970s and early '80s, financial institutions were very busy financing, then refinancing, hotels across the United States. At the same time, a young Stephen Rushmore was busy trying to build a reputation for providing hotel valuation