Hotel, Restaurant CEOs Worry About Slowing Demand Topics:Stock Market | Mergers & Acquisitions | Management | CEOs and CFOs Companies:Loews Corp | Starwood Hotels & Resorts Worldwide Inc | Marriott International Inc | IHOP CorpBy Brooke Sopelsa Video Producer | 02 Jun 2008 | 11:21 AM ET Font size: The housing crisis and soaring energy prices are a concern for the hotel and restaurant industries, and CEOs are already feeling the effects.
With home values decreasing and gasoline around $4 a gallon, Jonathan Tisch, chairman and CEO of Loews Hotels Loews CorpLTR 50.54 UNCH 0% NYSE
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“We’re starting to see the middle of the country get a little bit soft, the coasts are still holding up for us…but it’s problematic,” said Tisch. “It will definitely have an impact on travel and tourism, especially in this country.”