Excerpt:
The industry is dominated by hotel chains, especially in the United States... Attempting to expand their customer base, hotel chains, led by Holiday Inn, turned to segmentation. This approach involved offering various types of lodging facilities based on size, service, and space. Another trend was the adoption of computer technology. Although the hotel industry once failed to fully comprehend the benefits of computerized operations, in recent years hotel companies have turned to technology to standardize operations, communicate among properties and the home office, and create more efficient and cost-effective operations. Centralized reservation systems have become critical to any large lodging chain. The hotel industry continues to rely on both business and leisure travelers. Each year, the hotel industry has increased its marketing dollars for campaigns to attract more business and leisure travelers. A PKF Hospitality Research study reported that there was an additional 6.1 percent in marketing spending in 2004. Yet, travelers still left their destinations dissatisfied with the level of service received and their overall experience. It was a challenge for hospitality companies to get beyond creative campaigns and amazing promises to actually provide the quality of service that would generate return visits and positive word of mouth.
Source: "Hotels and Other Lodging Places." Encyclopedia of Global Industries. Online Edition. Gale, 2008. Business & Company Information Center. Gale Cengage Learning. University of Texas At San Antonio, John Peace Library. San Antonio, TX. 13 Apr 2009.
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Excerpt:
In recent years, the hotel industry has become dominated by a few large national hotel chains. To the traveler, familiar chain establishments represent dependability and quality at predictable rates. Many chains recognize the importance of brand loyalty to guests and have expanded the range of lodging options offered under one corporate name to include a full range of hotels from limited-service, economy-type hotels to luxury inns. For those who prefer more personalized service and a unique experience, boutique hotels are becoming more popular. These smaller hotels are generally found in urban locations and provide patrons good service and more distinctive décor and food selection. The lodging industry is moving towards more limited-service properties mostly in suburban, residential, or commercial neighborhoods, often siting hotels near popular restaurants. Many full-service properties are limiting or quitting the food service business altogether, choosing to contract out their food service operations to third party restaurateurs, including long-term arrangements with chain restaurant operators. Urban business and entertainment districts are providing a greater mix of lodging options to appeal to a wider range of travelers. Increased competition among establishments in this industry has spurred many independently owned and operated hotels and other lodging places to join national or international reservation systems. This allows travelers to make multiple reservations for lodging, airlines, and car rentals with one telephone call or Internet search. Nearly all hotel chains and many independent lodging facilities operate online reservation systems through the Internet or maintain websites that allow individuals to book rooms. Online marketing of properties is so popular with guests that many hotels promote themselves with elaborate websites and allow people to investigate availability and rates.
Source: http://www.bls.gov/oco/cg/cgs036.htm
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Excerpt:
As consumer spending withers and corporations cut business travel, the economic outlook for the hotel industry is murky at best, said the chief executive of Global Hyatt Corp in an interview on Thursday. CEO Mark Hoplamazian, who heads the privately held Chicago-based hotel company, said he would not count on an economic recovery any time in 2009. "Our hope or belief is that it will be some time in 2010," Hoplamazian said.
Source: http://www.reuters.com/article/ousiv/idUSTRE53165L20090402
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Excerpt:
This morning, economic research firm e-forecasting.com in conjunction with Smith Travel Research announced that following a decline of 1.6 percent in February, HIP went down 3.2 percent in March. HIP, the Hotel Industry's Pulse index, is composite indicator that gauges business activity in the U.S. hotel industry in real-time. The latest decrease brought the index to a reading of 85.3. The index was set to equal 100 in 2000. The Hotel Industry’s Pulse, or HIP for short, is a hotel industry indicator that was created to fill the void of a real-time monthly indicator for the hotel industry that captures current conditions.
Source: http://www.hotelnewsnow.com/Articles.aspx?ArticleId=964&ArticleType=1&PageType=Todays.
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American Hotel and Lodging Association - 2008 Annual Report
http://www.ahla.com/uploadedFiles/AHLA/About_Us/AR08web(1).pdf
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Hoovers Industry Overview – Hotel and Motel
http://www.hoovers.com/hotel-and-motel---lodging/--ID__30--/free-ind-fr-profile-basic.xhtml
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