As U.S. Troops Leave Iraq, Hotel Execs March In

As soldiers in Iraq packed up their camouflaged backpacks and hopped on flights back to the U.S., eager hotel executives were flying in the opposite direction toward the war-stricken land, scouring the desert terrain to stake out the best spot to plop their next big resort. Hoteliers are eyeing Erbil, the capital city in the Kurdistan region in northeast Iraq, some 300 miles from Baghdad. The city's newly finished airport renovations have attracted major international carriers, including Lufthansa and Fly Dubai, making it a gateway to the region. “Erbil is an encouraging destination with a lot of economic and commercial opportunity,” said Ed Fuller, president of international lodging for Marriott (MAR: 29.70, +0.26, +0.88%). He said the city serves as a gateway to a region with vast deposits of oil and gas, fertile soil for agriculture and antiquities. Continue reading

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