Hotels hope for better 2010

Globe & Mail The hotel industry suffered one of its worst years in 2009, as investment evaporated and some new hotel owners even opted to pave over properties rather than risk renting out rooms by the night. Already feeling the effects of the recession in 2008, Canada's hotel ivestment industry experienced yet another challenging year in 2009 as transaction volume plummeted 61 per cent, according to Colliers International Hotels annual investment report.