2008_10_marmarq.jpgIn recent years, as the dollar weakened, tourism remained high and helped bolster the city's economy. However, the faltering economy's repercussions are starting to hurt the hotel sector. The Marriott Marquis's general manager tells Crain's, "The financial markets have scared off a lot of different companies that we do business with.” And a budget hotel operator tells the Times, "There’s hesitancy in bookings. We hold our breath and fill up rooms at the last minute. Occupancy has been weaker in October, traditionally one of the strongest months.” The hotel industry is reiterating their opposition to any hotel tax hike, but given the hard times, it's possible the City Council might try to pass one--City Councilman Lew Fidler says an extra $70 million/year could be raised, "The idea of not reaching into the pocket of foreign tourists before reaching into the pocket of New Yorkers is offensive."