Slow Summer Could Bankrupt Travel, Leisure Cos.

Law360, New York (May 1, 2009, 12:00 AM EDT) -- With occupancy and sales down nearly across the board, a low-volume summer could push travel and leisure companies over the brink into Chapter 11, industry insiders say.

“A lot of hotel owners are looking with great hopes at the summer,” said Sandra Kellman, a partner and co-chair of DLA Piper’s hospitality and leisure group. “If the industry sees better results in the summer that will give them a bit of breathing space, but if it doesn’t turn out that way there will be some foreclosures and...
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