Hospitality and Related Services

Hospitality and Related Services6LEARNING OBJECTIVESStudy 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.OPERATING SECTORS OF THE TOURISM INDUSTRYACCOMMODATIONS STRUCTURETHE LODGING INDUSTRYWorld hotel room inventory grows about 2.5%/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 rooms.In 2009, the U.S. lodging industry generated $127.2 billion in sales, numbered 50,800 properties, 4.76 millions rooms, and recorded profits of $16.0 billion.TOP 25 HOTEL CHAINS (2009)RESORTS AND TIMESHARING31% of the world’s timeshare units are located in North America.There are 7.2 million U.S. timeshare owners.Timeshare resorts are located in 95 countriesTimeshare owners reside in more than 95 nations.Major companies such as Disney, Hilton, Marriott, and Hyatt have become involved in timeshare.FOOD SERVICES STRUCTUREFOOD SERVICE INDUSTRY (2010)U.S. sales total estimated $580 billion – 2.5% over 2009.Employs more than 12.7 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 industry945,000 locationsTravelers contribute about $139 billion to sales each year.MEETINGS AND CONVENTIONSIndustry worth $263 billionSupports $1.7 million direct jobsConvention centers are expanding