Competitive Lodging Market Spurs Uptick In Hotel Closings

Law360, New York (January 3, 2014, 5:57 PM EST) -- A recent rise in hotels being shuttered across the U.S. is a byproduct of the strengthening deals and development market, as an increase in competition means investors are cutting ties with underperformers, according to attorneys. 

In 2013, the lodging market saw a 12 percent rise in hotel closures, according to a recent report from hospitality data firm STR Analytics. Across the country, 120 hotels permanently shut their doors, with no major brand or new owner rising in to save the day, an increase from the 107...
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