Middle East development continues as slowdown hits Asia, Europe

10/22/2008 | GlobeSt.com

While the credit crunch has put a crimp on hotel development in Asia and Europe, development in the Middle East is booming, according to Lodging Econometrics. The Asia-Pacific region has seen minimal growth in the past three quarters, and Europe's pipeline appeared to hit its peak at midyear after rising steadily for six previous quarters, but Middle East hotel construction has shown moderate growth, indicating that it is not as affected by the credit crunch as other parts of the world are.

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