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Why Hotels? Economy Weakens but Hotels Remain Relatively Strong—What Gives? And What Might Give?

Author
Corgel, John B.; Woodworth, R. Mark
Abstract
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.
Date Issued
2012-11-01Subject
hotel economics; hotel demand; lodging cycle; hotel forecast
Rights
Required Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
Type
article
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