Mayer Brown’s Global Hospitality and Leisure Group – The Year Ahead
Mayer Brown Legal Update
It is unnecessary to stress the point that 2009 will not see the kind of explosive growth witnessed throughout the hospitality and leisure industry in the recent past. The ongoing global financial crisis is already affecting existing hotels’ profitability and the lack of credit is a major potential (if not an actual) impediment to growth, especially for the operators with an “asset right” approach and significant development pipelines. However, it seems to us that some things are unlikely to change.