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.

 

 

Lodging Tips & Questions
Wage and salary employment in hotels and other accommodations is expected to increase by 17 percent over the 2002-12 period, compared with 16 percent growth projected for all industries combined. Recently, business and leisure travelers have cut back on travel due to the weak economy and security concerns. However, over the long-run, travel should pick up as the economy improves and people feel more comfortable about traveling again. In addition, as more States legalize some form of gambling, the hotel industry will increasingly invest in gaming, further fueling job growth.