room rate rose 15% to $252 a night from a year-ago,
according to PKF Consulting.
"Things are improving, but we are still not back to where we were ... said John
Fox, a senior vice president at PKF. He added that in recent years, no hotel has sold for the
minimum $680,000 per room that Union Labor Life ... take all the pretty girls at the bar with
him," the investor said.
However, PKF Consulting's Mr. Fox said many new boutique operators might be able to step
into