Hotel companies expand during recession, look to future

Dow Jones Newswire — May 26, 2009

Taking advantage of the struggling real estate and hotel markets, stable hotel chains are buying up distressed properties across the country. Kimpton Hotels and Restaurants, the owner of 70 Park Avenue Hotel, are buying properties that it hopes can be transformed into Kimpton-style hotels. Marriott Internation Inc. and Best Western International, on the other hand, are swallowing up independent hoteliers who are looking for the security that can come with converting to a well known brand.

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