The Economic Ascent of the Hotel Business

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Format: Digital

ISBN: Hbk 978-1-906884-66-6 Pbk 978-1-906884-67-3

Number of pages: 284

Published date: March 2012

Product Description

The Economic Ascent of the Hotel Business is about the hotel business and the economic contexts in which it has evolved. Now in its second edition, it is fully updated throughout and incorporates the monumental changes in the economic landscape of recent years and their effects on the hotel business. It also includes a new chapter which examines the options for the world economies, their implications for the hotel business and their impact on hotel chains in the decade to 2020.

Slattery illustrates that over the past 250 years the structural ascent of economies has driven the economic ascent of the hotel business to reach a global replacement cost of $3 trillion. As the structure of the world economies ascend from agriculture through the industrial, public service, service business and experience business segments so hotel demand and supply grows and diversifies and hotel chains emerge and grow to dominate the business. Slattery projects that by 2030, global hotel room stock could double to 30 million, the global major chains could triple to 12 million rooms and global replacement cost could triple to $9 trillion.

  • Fully updated and revised 2nd edition includes a brand new chapter which examines the options for the world economies, the hotel business and hotel chains in the decade to 2020;
  • Provides a review of the structural development of economies from the historic agricultural period to modern service business economies;
  • Tracks events at each economic stage to illustrate that the patterns in hotel demand and supply that emerged were a reflection of the structural developments of the economies;
  • Draws on extensive data to track the development of international hotel chains and link them to the structural development of economies;
  • Provides a more comprehensive and effective interpretation of the dynamics of hotel demand and supply;
  • Enables greater effectiveness in the big investment decisions about the hotel business.

Essential reading for hotel executives, their advisors and investors, and a vital resource for those studying the hospitality industry.