From the North County Times reporting on the Hospitality Investment Hangover Conference:

“We are experiencing a bubble on the higher end of the market,” Alan X. Reay, president of Irvine-based Atlas Hospitality Group Inc. “Buyers have raised their expectations, but we won’t know if they’re right for another three or four years.”  The big concern on luxury hotels is that their convention and meeting business is susceptible to an economic downturn, he said at a hotel conference in Irvine sponsored by R.A. Rauch & Associates, a San Diego-based hospitality management firm.

Read more: The North County Times