Difficult Lending Market Affects All Hotel Employees

Aloha Kakou:

Please see David Carey's comments in the attached article regarding the state of lending in Hawaii's hotel industry. David Carey is Outrigger's president and chief executive officer.

Mr. Carey says that, with the financial markets unwilling to lend money to the hotel sector, it becomes "difficult for owners to spend more money on employees and benefit costs."

"In order to generate any business at all in this sort of tougher economy, pretty much everybody's trashed their prices," Carey said. "So owners are experiencing a significant profit squeeze."

http://www.staradvertiser.com/business/20100608_Isle_hotels_in_distress.html