Manor Care Says: Hotel Glut? What Glut?Peter Hong
These are gloomy times for the nation's hoteliers. The real estate boom and easy credit sparked a wild overexpansion in the 1980s. Now, the industry faces a room glut that will take years to burn off, and the major chains are waging a profit-withering price war. So why has Manor Care Inc. been buying its way into the big time in such a sick business?
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