ME hotel industry to be safe from US recession
Tuesday, March 18 - 2008 at 09:13
The Middle East hotel industry is unlikely to be affected by a possible US recession because of the region's booming economy and its future demand and supply projections, said Kip Horton, vice president of sales for Europe, Africa & Middle East with Starwood Hotels. He said it used to be true that when 'North America got a cold, the rest of the world seemed to get pneumonia,' but that is no longer the case. If the US economy falters, it will be compensated by people who travel from Middle East or Europe, he said.
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Jeff Florian, Senior ReporterTuesday, March 18 - 2008 at 09:13 UAE local time (GMT+4)
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