Inflation is hitting and it’s hitting hard. Apart from the retail industry relatively, almost all other industries are suffering dearly in the face of the global inflation and recession, more so the US economy. The US hospitality industry is suffering loses in three key parameters in the financial year 2008-09 as compared to the previous year. As per STR the industry’s revenue fell 13.2% per available room as compared to that of 2007. The occupancy rate also fell 11.6 % and the average daily rate dropped 1.7%. Interestingly the budget hotels in the countries like India are not suffering to this extent, as these hotels also fulfill the business parameters and business is only growing in India, thanks to industrialization and foreign investment. As for example, the rising number of business hotels in Bangalore the IT capital of India shows that the business or the budget sector of the industry is not suffering that much. The Bangalore hotels also have a certain advantage owing to the climate conditions and growing business.
American born, my wife and I moved to Israel in 1970. We have lived at Shiloh together with our family since 1981. I was in the Betar youth movement in the US and UK. I have worked as a political aide to Members of Knesset and a Minister during 1981-1994, lectured at the Academy for National Studies 1977-1994, was director of Israel's Media Watch 1995-2000 and currently, I work at the Menachem Begin Heritage Center in Jerusalem. I was a guest media columnist on media affairs for The Jerusalem Post, op-ed contributor to various journals and for six years had a weekly media show on Arutz 7 radio. I serve as an unofficial spokesperson for the Jewish Communities in Judea & Samaria.
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Good Job! :)
Inflation is hitting and it’s hitting hard. Apart from the retail industry relatively, almost all other industries are suffering dearly in the face of the global inflation and recession, more so the US economy. The US hospitality industry is suffering loses in three key parameters in the financial year 2008-09 as compared to the previous year. As per STR the industry’s revenue fell 13.2% per available room as compared to that of 2007. The occupancy rate also fell 11.6 % and the average daily rate dropped 1.7%. Interestingly the budget hotels in the countries like India are not suffering to this extent, as these hotels also fulfill the business parameters and business is only growing in India, thanks to industrialization and foreign investment. As for example, the rising number of business hotels in Bangalore the IT capital of India shows that the business or the budget sector of the industry is not suffering that much. The Bangalore hotels also have a certain advantage owing to the climate conditions and growing business.
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