Is the hotel room shortage in the Marcellus region (Pennsylvania specifically) about to turn into a hotel room glut? Has there been a bit of “irrational exuberance” on the part of hoteliers to build, build, build to meeting demand, only to lead to too many rooms? That may be one conclusion you can draw from a new report by Penn State researchers. The report, titled “The Impact of Marcellus Shale Development on Hotel Revenues in Pennsylvania” (full copy below), was recently published by the International Council on Hotel, Restaurant, and Institutional Education (CHRIE). It set out to determine just how much of an impact Marcellus Shale drilling has had on the hotel industry in PA. They found that (so far) Marcellus drilling has generated $685 million in new revenue and has led to 1,600 new jobs being created…
