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Article: Hotel industry suffers NIS 1.1b. revenue loss from dollar slump
- Article from:
- Jerusalem Post
- Article date:
- June 24, 2008
- Author:
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SHARON WROBEL
Jerusalem Post
06-24-2008
Headline: Hotel industry suffers NIS 1.1b. revenue loss from dollar slump
Byline: SHARON WROBEL
Edition; Daily
Section: Economics
Page: 17
Tuesday, June 24, 2008 -- The hotel industry has been hit hard in its pockets as a result of the sharp devaluation of the dollar against the shekel, causing a loss of some NIS 1.1 billion in revenues, the Israel Hotel Association said Monday.
"The devaluation of the dollar is damaging profits diminishing the positive effect created by the growth in incoming tourism," said Eli Gonen, President of the Israel Hotel Association, at a conference in Tel Aviv on the profits of the local hotel industry over the past decade. ...