Hotels, retail could suffer market woes

June 24, 2008 11:59AM

The hospitality and retail industries are at risk as the economy weakens, according to Marathon Asset Management’s Scott Schwartz said at the Reuters Global Real Estate Summit in New York. Several experts say commercial real estate values could fall by 10 percent to 20 percent from last year’s peak levels. Recent bankruptcies of retailers like Linen ‘n Things Inc and Sharper Image Corp. could hurt shopping center landlords. While the hospitality industry remains strong in big cities, the industry is struggling in smaller markets.

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