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Andrew T. Gillies is Director of Communications at the Center for Audit Quality, an affiliate of the American Institute of CPAs, in Washington, DC. Based in Washington since 2002, he has also worked in editorial and communications roles at the Investment Company Institute, the World Bank, Forbes, and Vault.com. His policy-themed writing has focused on aerospace and defense, energy and environment, transportation, and financial services.

Wednesday, March 14, 2007

Political Risk Watch: Hotels

WASHINGTON - Economically, the U.S. lodging business has nice momentum. The industry sold a billion room-nights last year, which meant $134 billion in revenues. Investors have been enthusiastic too--hotel and cruise stocks in the Standard & Poor's 500 are up 14% in the past year, six points ahead of the broader market.
Yet could politics prove a problem? The industry's standard bearers in Washington admit a mixed forecast, given the new policy priorities on Capitol Hill.
"Many of them are good for our industry," says Joseph A. McInerney, chief executive of the American Hotel & Lodging Association (AHLA). "Some of them are not that great."