Hotels face an uncertain year

By Cheryl Cole Trade picked up for hotel operators in the last quarter of 2000, reflected i...

By Cheryl Cole Trade picked up for hotel operators in the last quarter of 2000, reflected in industry share prices that rose an average 20% during the first two months of this year. It's a welcome period of outperformance for a sector that has fallen around 20% in the past four years compared with a UK market that has risen almost 50%. The outlook for 2001 looks less optimistic. In March prices fell back because of the prospect of a slowdown in the US, weak demand and, in particular, last week's poor performance of global stock markets. Accor, Hilton and Millennium & Copthorne ...