Boutique hotels seeing resurgence in US
, Mid-Market Hotels
, North America
"We’ve had a shift because in 2007 we had a credit crunch started. And in 2008, after the Lehmann Brothers change, there was, you know, nobody had any money. And the economy was in tough shape. And nobody could get financing. And the federal government decided to change some of the banking laws and everything else. So very few people for big boxes were getting … big hotels were getting finance. But of course there weren’t many of them needed in the United States at that time. So what we’re seeing is smaller 100 rooms, you know, maybe 200 rooms, boutique hotels, more of a lifestyle, like an Indigo that IHG has or a Loft that Starwood has or some of the other lifestyle brands and other chains. And we’re starting to see them come in, are really geared towards that, you know, 20 to 35 market."