Economic Analysis Of The Hotel Industry
Economic Analysis of the United States Hotel Industry
Background Information
Our team chose the hotel industry in the United States for our economic analysis. The hotel business has existed since the earliest times, and has influenced the development of the economy since the founding of this country.
According to the American Hotel and Lodging Association, in the year 1900, there were fewer than 10,000 hotels in the US which provided 750,000 to 850,000 rooms. The 2004 figures show that there are 47, 584 hotel properties in the US with 15 rooms or more. There are currently 4,415,696 guestrooms available. The industry had sales of $105.3 billion in 2003, which places average revenue per room at $50.42 with an average occupancy rate of 60.1%.
The hotel industry is considered part of the tourism industry in the US. Currently, tourism is the 3rd largest retail industry in the US. Only the automotive and food industries are larger.
Recent Performance
The hotel......
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Approximate Word Count: 2963
Approximate Pages: 12 (250 words per double-spaced page)
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