09-2016 - Hotel Industry Braces for Cooldown after Record Performance Run

“Our focus right now is more on the Southeast for future growth,” said Gerry Chase, president and chief operating officer of New Castle Hotels & Resorts, a Shelton, Connecticut, hotel management and development company. With 23 hotels located mainly in the U.S. Northeast, New Castle is looking to double its properties by 2020. Last year, it opened a new, full-service hotel on Georgia’s Jekyll Island, and in late September, the company will open its first New Orleans hotel. “New Orleans is one of the major markets for leisure and tourism. It absorbs the new (hotel) supply very effectively,” Chase said, adding that the area’s current oil-related market weakness is a temporary situation. Read More…