Hotel Chain Explores Bankruptcy

As the economy continues to struggle, a real-estate investment firm led by Joseph E. Robert Jr., who was one of the most successful deal makers during the industry crisis in the 1990s, is exploring a potential bankruptcy. This would mark another collapse of a major hotel company as our economy continues to plummet.

According to the PKF Consulting Inc., hotel values are expected to increase almost 7% this year. This increase would be following a 40% decline last year and 27% in 2008. Still, analysts warn that the hotel branch remains vulnerable to a double-dip recession because rooms turn over on a nightly basis.

The growing depression has been hard on the hotel industry this past year. Despite the probable collapse a real-estate investment firm led by Joseph E. Robert Jr., other hotel values are expected to rise by at least 7% in the next year. With the predicted hotel values on the rise does this also mean that employment will rise as well in the next year?