Spain's hotel stays down

from Reuters (9/24):

Spain hotel stays down in August as crisis bites
Wed Sep 24, 2008 4:27am EDT

"MADRID, Sept 24 (Reuters) - Hotel occupancy in Spain fell in August as the holiday budgets of Spaniards, Germans and the British shrank during a time of economic crisis.

Hotel stays fell 0.6 percent in the month compared with the same month a year ago, as Spaniards spent 2.5 percent fewer nights in hotels in Spain, where economic growth has slowed to 0.1 percent in the second quarter and unemployment has hit a 10-year high. Tourism accounts for around 11 percent of Spain's GDP and is its second-largest industry after construction, which has been hit by the collapse of a decade-long property boom." ...

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