Hotels prepare, just inn case

From the May issue: New York’s red-hot hotel industry is beginning to fear a slowdown. Though most business metrics are positive, rising inventory and fear of a recession are beginning to push many hoteliers to develop plans for a weaker environment. Even Sam Chang, the most prolific hotelier in the city, is tapping the brakes. Last month, Crain’s New York Business reported that Chang’s primary lender, Credit Suisse, was pulling back. The publication quoted Chang, who is building 40 percent of the 10,000 rooms coming online in the city, as saying that the credit crunch is slowing him down and that he is “playing defense trying to finish what we have in the pipeline.” To be fair, many existing city hotels are reporting healthy business this year so far.