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Learning Objectives. Study the lodging industry Appreciate the immensity of the restaurant-food service industry Learn the current trends in resorts and timesharing mode of operation Discover why meetings and conventions as well as meeting planners are so important to tourism.
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Learning Objectives • Study the lodging industry • Appreciate the immensity of the restaurant-food service industry • Learn the current trends in resorts and timesharing mode of operation • Discover why meetings and conventions as well as meeting planners are so important to tourism
Accommodations Structure Accommodations Non-Commercial Commercial Private Non-Profit Motels Institutional Time Share Facilities Hotels (Chains/Independent) Bed & Breakfast College/University Hostels Private Homes Resort Hotels Upscale Upscale Mid Range Economy Spas and Health Care Facilities Suite Hotels Spa Home Exchange Shelters Mid Range Meetings & Convention Hotels Casino Deluxe Budget Extended Stay Budget YM / YWCA Airport Hotels Luxury
The Lodging Industry • World hotel room inventory grows about 2.5% a year • Occupancy rates average about 65% overall • 72% of the world’s hotel rooms are located in Europe and North America. Europe has 45% of the rooms • In 2006, the U.S. lodging industry generated $133.4 billion in sales, numbered 47,135 properties, 4.4 millions rooms, and recorded profits of $26.6 billion
Top 25 Hotel Chains (2006) Rank Corporate Chain Rooms Hotels 1 InterContinental Hotels Group 556,246 3,741 2 Wyndham Hotel Group 543,234 6,473 3 Marriott International 513,832 2,832 4 Hilton Hotels Corp. 501,478 2,935 5 Accor 486,512 4,121 6 ChoiceHotels International 435,000 5,376 7 Best Western International 315,401 4,164 8 Starwood Hotels & Resorts Worldwide 265,600 871 9 Carlson Hospitality Worldwide 145,331 945 10 Global Hyatt Corp. 140,416 749 11 TUI AG/TUI Hotels & Resorts 82,111 279 12 Sol Meliá SA 80,856 407 13 Extended Stay Hotels 75,860 681 14 LQ Management LLC (was La Quinta Corp.) 64,856 582 15 Westmount Hospitality Group 63,380 384 16 Société du Louvre 59,616 840 17 Jin Jiang International Hotels 53,552 277 18 Golden Tulip Hospitality/THL 51,182 512 19 Interstate Hotels & Resorts 50,199 223 20 NH Hoteles SA 47,799 330 21 Vantage Hospitality Group (American Best Value Inns) 46,910 699 22 Rezidor Hotel Group 45,463 225 23 Fairmont Raffles Holdings International 44,149 123 24 MGM Mirage 43,785 18 25 Walt Disney World Co. 40,399 47 *Rankings are based on total rooms Source: Hotels, July 2007. Hotels magazine, a Cahners Publication, 2000 Clearwater Drive, Oak Brook, IL, U.S.A. 60523.
Resorts and Timesharing • 41% of the world’s timeshare units are located in the U.S. • There are 4.4 million U.S. timeshare owners • Timeshare resorts are located in 95 countries • Timeshare owners reside in more than 174 nations • Major companies such as Disney, Hilton, Marriott, and Hyatt have become involved in timeshare
Food Services Structure Food Services Cafeterias Traditional Restaurants Fast Food Restaurants Independent Chain In-Hotel Independent Minimal Service Ethnic Specialty Specialty Local Full Service Local Ethnic Broad Menu
Food Service Industry (2007) • U.S. sales total estimated $537 billion – 5.0% over 2006 • Employs more than 12.8 million people • Restaurant industry provides work for more than 9% of those employed in the United States • Industry employees more minority managers than any other retail industry • 935,000 locations • Travelers contribute about $130 billionto sales each year
Meetings and Conventions • Industry worth $122.3 billion • Average convention attendee spends $290 per day in the city, stays 3.5 days and spends $1,036 per event • Convention centers are expanding © John Wiley & Sons, Inc, 2009
