Hotel Industry Information
Increases in competition and in the sophistication of travelers have induced the chains to provide lodging to serve a variety of customer budgets and accommodation preferences. In general, these lodging places may be grouped into properties that offer luxury, all-suite, moderately priced, and economy accommodations. The numbers of limited-service or economy chain properties—economy lodging without lobbies, restaurants, lounges, and meeting rooms—have been growing. These properties are not as costly to build and operate. They appeal to budget-conscious family vacationers and travelers who are willing to sacrifice amenities for lower room prices.