Hospitality Economics: Dismal but Not Desperate by Bill Carroll, Ph.D. | drivingrevenue.travel
At best the economic prospects for the hospitality industry are bleak for the next 12 to 18 months. Even if the economy were to recover in 2009, the hospitality segment is the first into a recession and the last out. So, 2010 is probably a best case scenario for recovery in our industry. Moreover, the severity of this recession is likely to be greater than those for the past 30 years in terms of unemployment levels, net worth loss and commercial losses. We are simply uncertain of either the length or depth of this global recession.
