More bad news on the hotel front with the news that Lynch Hotels has gone into voluntary examinership. The group will trade as normal as it finds a way to re-structure the business.
Meanwhile, Horwarth Bastow Charleton said profits fell in the sector last year by 25% and that profits and occupancy were at a 15 year low. What about this year? From my conversations with operators, very few if any properties will make a profit in 2009. They simply hope to survive!
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