Worst Year since the Great Depression for Hotels: Socialists in Greensboro Say “Let’s borrow to build another hotel and give some of the profits to one neighborhood, unintentionally force some unsubsidized businesses to go under, and let everyone else pay for it!!”

Hotels: Worst Year Since Great Depression

 

In terms of the occupancy rate, 2009 was the worst year since the Great Depression (close to 55%). And last week was no exception with Smith Travel Research reporting the occupancy rate fell to 33.8 percent - the lowest weekly occupancy rate on record.

 

Calculated Risk, December 31, 2009