I just love optimists. So fun to be around folks who see sunshine everywhere they go.
Of course, you don't really want those folks forecasting for you. But still.
So here's a little bit of blue-skies-sunshine reporting. The good folks at Lodging Econometrics have a new report out about the number of new hotels being opened worldwide, for 2010.
The good news? Only 717 new hotels will open in 2010 Way down from last year. 56% drop.
Why? Well, that's the bad news that we already know. There is no financing at all anywhere for lodging property. None. Zip. Nada.
Slowing down the growth is, in my book, a good thing. There are too many rooms out there now. We don't need more.
For the B&B industry, in particular, though the lack of financing represents a catastrophic future for aging owners who need to sell. Or any owners who need to sell. Folks want to buy them but can't. Owners really want to sell to the eager buyers but can't.
For B&B owners, this isn't just an investment. It's their home, their life, their future retirement. It's everything they have.
It's something that really needs to be addressed through Small Business Administration loans or some other government backed program to get funding for those businesses. In many cases, these are B&Bs that are well-priced, profitable, and providing much needed jobs to their rural communities. Someone should be looking at this. Please.
Other good news in the report? Sorry, none. That's it. The good news is there is no money for new buildings so fewer rooms will be added.
Just gotta love those optimists.
