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Strategic Hotels Experiences Downturn

News Strategic Hotels & Resorts reports a significant RevPAR fall in 2009 due to a 15.9% lowering in ADR. In particular, 2009 RevPAR for its hotel network in North America was down 22% compared to the same period prior year. The company did slightly better in Europe, showing a 19.7% RevPAR drop. In an effort to boost liquidity and improve its budget, Strategic had to sell its property in Mexico City and a number of hotels in Paris.

09.03.2010

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