Strong dollar boosts U.S.-owned European hotels
The biggest U.S. hotel companies began pushing into Europe during the downturn in the wake of the financial crisis, seeing an opportunity to export their famous brands to small, independent operators struggling to fill rooms.
Now that the euro is plunging against the dollar, those plans are looking fortuitous.
In previous years, a strong dollar would have offered little upside for big U.S. hospitality companies, which historically have been underrepresented in European regions long dominated by independent hotels.
But because of their move into Europe, U.S. companies now are poised to capitalize on any increase in travel to the Continent by U.S. visitors whose dollars go a lot farther than they did last year.