CEO Sounding Board
"We have not come even close to 2005 to 2006, which were our best years. I don't see any significant improvement in 2012 over 2011. The current administration doesn't provide many of us in the private sector with confidence and hope, and until we have confidence and hope, I think we're going to be impacted negatively. It's very hard to be aggressive and be inclined to take risks when you don't know what healthcare costs are going to do, you're concerned about regulation. We have spent about $35 million in the last two years refurbishing our hotels. I wouldn't be doing it unless I believed that things would get better some day. We're contemplating spending $15 million to $20 million in the next 12 months carrying on with our refurbishing."