Canadian hotel financing slow

from the Globe and Mail (3/24):

Recession puts skids on hotel construction
While new projects are being shelved, sales of existing properties could see a rise as investors look for deals
TERRENCE BELFORD
March 24, 2009

"The once stately pace of new hotel construction in Canada has hit a recessionary speed bump.

The challenges of finding financing during a global credit crunch, along with uncertainties about short-term demand from both business and recreational travellers, has meant that almost all new projects in the planning stages, and even those in the early stages of construction, have or will be shelved to wait for better days, experts say." ...

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