That's the question industry observers are asking as hotel powerhouse Hyatt Hotels prepares to jump into the public markets at a time when the lodging sector has spiraled to lows not seen since the Sept. 11 terrorist attacks.
"Hotels are highly sensitive to economic conditions, labor, cost of living and consumer confidence. So, when times are at the lowest like this, it's probably not the best time to go to the market and expect to get a huge payoff," says Mark Lunt, a principal in Ernst & Young's hospitality advisory practice. "It would appear that this is early in the cycle to have a hotel IPO."
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