Five of the biggest hotel groups lost in excess of $25 billion in market cap up until now. Experts say recovery is years down the road.
Choice Hotels International
Accor Hotels, the largest hotel player in Europe, has announced guarded optimism for business going forward into 2012. According to their assessment, demand for rooms in Europe looks stable, while concerns over debt burdened South Europe put a damper on expectations.
In travel technology news from yesterday Tnooz carried the announcement that six of the world’s largest hotel proprietors had launched a booking commune Roomkey. Choice Hotels International, Hilton Worldwide, Hyatt Hotels, InterContinental Hotels, Marriott International and Wyndham Hotel Group set sail on a joint venture which is piloted by Pegasus founder John Davis. Argophilia Travel News decided to take the new flagship for a ride.