The global recession and the credit crisis are having an effect on new
hotel construction throughout the U.S., especially in New York City.
Total projects under construction in the U.S. have fallen 20.1 percent
since last year, with a corresponding 27.2 percent drop in the number
of rooms, according to the June 2009 STR/TWR/Dodge Construction
Pipeline Report released exclusively to HotelNewsNow.com, a division of Smith Travel Research. [more]