Hotels look to Asia, Middle East during slump

06/4/2008 | Reuters

With the U.S. economy in a slump, many hotel chains are looking to the Middle East and Asia for places to grow until things improve. Executives at a hotel investment conference this week said hoteliers see big opportunities overseas to help their companies survive. "The center of gravity is moving east," said Hilton Hotels Corp. CEO Christopher Nassetta.

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