A total of 120 hotels closed permanently during 2013, according to STR, parent company of Hotel News Now. That’s up 12.1% from 107 closures during 2012.
And even more are aging out of brand affiliations, sources said.
“They haven’t closed yet; they haven’t demolished yet, but I’ve seen a lot of hotels that can no longer get branded,” said Joe Smith, executive VP of Chesapeake Hospitality. “I’ve been around 35 years, and I have not seen this large a group of hotels that just can no longer get branded.”