International Hotel & Restaurant Association (IH&RA)

IHRA LogoFounded in 1859 in Koblenz (Germany), the IH&RA is the only business organisation representing the hospitality industry worldwide. Its members are national hotel and restaurant associations throughout the world, and international and national hotel and restaurant chains representing some 50 brands. Officially recognised by the United Nations, IH&RA monitors and lobbies all international agencies on behalf of this industry, estimated to comprise 300,000 hotels and 8 million restaurants, employ 60 million people and contribute 950 billion USD annually to the global economy.
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The Economic Situation And Its Impact On Hospitality

Mr. Aidi began by expressing doubt that about the possibility of a recovery this year. He said: “Next year, maybe; two years later we will have more chance!!!” He added: “Why our economy is falling down? Why is our banking system going into bankruptcy? What's going on? “In October 2008 the growing instability in economy and the fear of a great recession resulted in cheerless predictions for the performance of our industry.