Hotel Business Plummeting, with Outlook Grim

Waikiki Beach Marriott

On New Year's Eve in downtown Los Angeles, hotel lobbies were crowded with revelers and guests, many of whom were planning to attend the Rose Parade or Rose Bowl football game the next day.

But the holiday crowds concealed the uncomfortable expectation that the incoming year probably will not be a very good one for the hospitality business.

Just above the busy lobby at the Westin Bonaventure, an arcade of shops was almost entirely devoid of customers, and the "sale" signs posted in the windows looked worn with age.

Read more (Honolulu Advertiser)