The Luxury Hotel Market and the Emperor's New Clothes

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Reprint of 1990 article analyzing the collapse of the hotel industry in the capital constrained business down cycle precipitated in part by the Savings and Loan Crisis. The article looks at the factors contributing to the hotel industry problems, and the evolution of a business model in which few if any of the participants in the decision making process had personal responsibility or accountability for outcome or results on the investment.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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