Good news for hoteliers - outspoken economist Roger Bootle doesn't believe that the current troubles in the world economy will result in a full blown recession.
In actual fact he was pretty upbeat about the future of the world economy, believing its medium-term outlook is "stonckingly good".
And as he pointed out a good period of growth in the world economy should bode well for the hotel industry, which will be at the forefront of benefiting from all that prosperity growth.
There was some tempering of all this good news though - a bumpy ride can be expected over the next two years, as the US economy slows.
Bootle said that in the short-term assets markets are the biggest worry for the hotel market. A weak asset market, he said could impact on consumer spending and perhaps more worringly for the hotel investment market, it could result in lower property valuations.
