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Report on Hotel Industry

Report on Hotel Industry

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Published by Katherine Willis

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Published by: Katherine Willis on Jul 15, 2012
Copyright:Attribution Non-commercial


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Hotel operators and observers often employ industry-wide averages as key points of comparison and analysis for room rates, occupancy, and revenues. The use of simple averages,however, can be misleading if one does not take into account the possibility that a mean will bepulled in one direction or another by extreme values. This analysis of three industry averagesshows that those averages are, indeed, subject to distortion, or skew. The analysis, whichexamines figures for virtually all brand-name hotels in the United States, determined that themeans for average daily rate (ADR) and revenue per available room (RevPAR) are skewed in apositive direction by hotels with extremely high rates. On the other hand, occupancy is skewed ina negative direction by a group of hotels with inordinately low occupancy levels.Many of the extreme values are found in the top-25 markets, which have hotels withinordinately high ADRs. Analysis of those markets shows that, once again, the overall statisticsare distorted by a relatively small set of hotels with exceptional ADRs and occupancies.However, each of the top markets shows a distinctive rate and occupancy pattern.The pattern of skewed operating statistics carries over into individual lodging segments.The greatest distortions arise in the luxury and upscale segments, while economy and budgethotels record more consistent (normally distributed) statistics.Finally, the analysis shows that although the events of created much turmoil for theindustry, the hotel business had already cooled substantially from its record pace of a yearearlier. In conclusion, managers must be careful in applying overall industry statistics to theirown situation and should take into account the factors that distort operating statistics.
Hospitality Industry:
The hospitality industry consists of broad category of fields within theserviceindustrythat includeslodging,restaurants,event planning,theme parks,transportation,cruise line,and additional fields within thetourism industry.The hospitality industry is a several billion dollar industry that mostly depends on theavailability of leisure time and disposable income. A hospitality unit such as a restaurant,hotel, or even an amusement park consists of multiple groups such as facility maintenance,direct operations (servers,housekeepers,porters, kitchen workers,bartenders,etc.), management, marketing, and human resources.The hospitality industry covers a wide range of organizations offering food service andaccommodation. The industry is divided into sectors according to the skill-sets requiredfor the work involved. Sectors include accommodation, food and beverage, meeting andevents, gaming, entertainment and recreation, tourism services, and visitor information.
Defining of Hospitality
Introduction to Global Hospitality Industry:
Global Hospitality is a leading executive search firm serving the hotel, restaurant, and hospitalityindustries exclusively. With international offices and a professional staff having well over acentury of accrued experience in the hospitality and recruiting industry, Global providesworldwide, industry-wide reach in finding and recruiting "star" candidates for all key positions.The company has earned an extraordinary reputation for successful recruitment and placement of talented hospitality executives in a broad range of senior-level and management roles in hotels,resorts, spas, clubs, casinos, restaurants, convention facilities, campus/university dining services,food service companies, and other areas of the hospitality industry. The global hospitalityindustry continues to recover and should grow in 2011, with specific hotspots leading the pack.This year, the global hospitality industry should build on the gains made in 2010. Tourismgrowth is especially strong in the BRIC countries (Brazil, Russia, India and China). Still, theindustry remains alert for new government regulations and consolidated accounting standards.Rapid changes in the global economy are sweeping all sectors of business and the hotel industrycannot be immune to it. Demand for hotel rooms, which slumped during the recession period, ison a rebound in line with recovery in economic scenario. Luxury hotels in the US are exhibitinga more resilient recovery compared to other segments of the industry post recession. Though therecovery rate is fast, luxury hotels segment still lags in the revenue-per-room and occupancypercentage. A host of new constructions is expected to come up in near future as hoteliers lineupa pipeline of new hotel developments for addressing rising demand for hotel rooms and services.Healthy hotel services such as wellness & healing programs, as well as customized menus are anemerging trend in the current hospitality industry.
The hotel industry in China is a global frontrunner as the country‘s economy is the fastes
temerging market. In addition, India, a developing global business hub, offers attractiveinvestment propositions for both upscale branded and moderate-tier hotels.

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