Budget hotels wait for market recovery

The status of the economy-hotel segment is markedly different from that of the boom years in the 1980s, this feature says. Average occupancy in U.S. markets has yet to surpass 60 percent for a full year since 1995 as deteriorating supply continues to erode revenue. However, the recent acquisition of the Motel 6 and Studio 6 brands by a Blackstone Group affiliate has raised hopes that the sector will finally see a recovery. Read the HotelNewsNow.com story here.