Hotels losing out.
Now pubs and shops are closing and the housing market remains dire.
But the Liverpool Hilton opens next month, despite an 8% fall in the already over-priced UK hotel trade, and a steep decline in conference and sales business.
Locally, the latest eight-month drop-off figure might be only half that on the back of Capital of Culture, and the Hilton may take some comfort in its brand name.
But even prestige comes at a price.
Witness the relocation and rental costs for Liverpool One''s enlarged John Lewis store, which contributed to a virtual 20% fall in the group''s interim profits.
These things may be "budgeted for" but losses are losses.
Gone is the winning Monopoly Board dream of building hotels on Mayfair and being an automatic winner.
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|Publication:||Liverpool Echo (Liverpool, England)|
|Date:||Sep 24, 2009|
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