Why Hotels? Economy Weakens but Hotels Remain Relatively Strong—What Gives? And What Might Give?
Corgel, John B.; Woodworth, R. Mark
Despite tepid economic indicators, the demand for hotel rooms in the United States has surged since the depths of the great recession in 2009. Bucking all apparent economic trends, lodging has been a leading industry during this sluggish economic recovery. This is different from past recovery periods when hotels typically lagged other industries. In this article, the authors identify and explain the economic forces behind the growth in lodging demand during the recovery. Then they examine future changes in lodging demand based on two different economic forecast scenarios.
hotel economics; hotel demand; lodging cycle; hotel forecast
Required Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
Showing items related by title, author, creator and subject.
Enz, Cathy A.; Verma, Rohit; Walsh, Kate; Kimes, Sheryl E.; Siguaw, Judy D.B.A. (2010-08-01)This final set of hospitality innovators presents vignettes and brief descriptions of some 23 innovations. While the innovation does not have to be the first or best, in many cases the practices described are either unique ...
Brand Rights and Hotel Management Agreements: Lessons from Ritz-Carlton Bali’s Lawsuit against the Ritz-Carlton Hotel Company Dev, Chekitan S.; Thomas, John H.; Buschman, John D.; Anderson, Eric (2010-05-01)In this article, the authors consider the managerial implications of a recent lawsuit, P. T. Karang Mas Sejahtera v. The Ritz-Carlton Hotel Company, LLC, in which a jury found for the plaintiff, the owner of the Ritz-Carlton ...