Hotel industry is currently in the middle of its economic cycle. The industry tends to be strongly affected by macroeconomic conditions. When the U.S. slipped into recession in 2008-2009, the hotel industry slumped as well. As Turner (2010) notes, "trading volume fell sharply…lodging operating metrics of RevPAR and ADR deteriorated accordingly." While the economy recovery somewhat over the past couple of years, there are signs now that growth is slowing again. In particular, RevPAR declined in September (De Lollis, 2012). After an optimistic start to the year, the slow pace of economic recovery appears to be weighing on the industry. That said, because the economy is at a key juncture where it could begin to improve rapidly or it could slip back into recession, the hotel industry finds itself in roughly the same position.
Choosing the right type of hotel is important to its success. If the brand is going to be a national chain, one might assume that the national demographics and economic conditions are key. However, for the local conditions it has been decided that the hotel will be located in New Orleans. The local economic conditions are generally unfavorable -- Louisiana has a low per capita income and the state has only a moderate population density. However, a mitigating factor is that the city draws tourists from across the globe. The local tourism industry has recovered strongly since it was devastated by Hurricane Katrina. Civic leaders have promoted conventions and a series of major events to boost occupancy rates and to bring more attention to the city, all as part of the long-term recovery plan. The tourism industry is reported to be thriving in recent months, as these efforts have resulted in bringing in more big events (Eggler, 2012).
Travelers to the city typically stay in large chain hotels, although there...
Business Plan1. Executive SummaryMission Statement: Our hotel provides a comfortable and convenient lodging experience for travelers visiting the Lumberton, NC area, a certified retirement community, where outdoor activities like fishing, golfing, kayaking and canoeing are plentiful (LumbertonNC, 2023). This hotel will strive to provide exceptional customer service, comfortable accommodations, and convenient amenities to meet the needs of our guests, who may be visiting Lumberton for the first time to see
Furthermore, Lebanon enjoyed a considerable increase (+26%) on the already positive trend experienced in 2003, despite a politically rocky patch following the assassination of former prime minister Rafiq Hariri. Minister of tourism, Joseph Sarkis, described the new Beirut government's commitment to "enhancing the promotion of tourism in different sectors and encouraging investments in the country, in order to make Lebanon a first-class tourism destination in the Middle East" (quoted in
Hotel Use of IMC Starwood Hotels and Resorts Starwood Hotels and Resorts Worldwide, Inc. is one of the world's largest luxurious hotel chains. It is an American multinational corporation that owns, operates, manages, and franchises luxury hotels, resorts, residences, vacation ownership properties, and spas. It has more than 1100 hotels, resorts, and properties in almost 100 countries across the Globe. Its internationally recognized hotel brands include Sheraton, St. Regis, Le Meridien, W
Safir International Hotel Kuwait Safir International Hotels is a subsidiary of Kuwait Hotels Company. The company offers accommodations in Kuwait, Syria, Lebannon, Algeria, Egypt, and Qatar. In Kuwait, Safir offers five different locations, including the Safir International Hotel Kuwait, in Bneid Al Gar. The hotel is known for its luxury and ambience, as well as its ideal location for both business and leisure travelers. The Safir International Hotel is located near
(Jabal Omar Development Corporation 2010) Kuwait Since 2008, the real estate market in Kuwait has been continually declining. The reason why is because the economy was largely depending upon oil revenues. However, in 2010 the sector began witnessing an increase in prices. This is because of the Kuwaiti government was aggressively promoting the tourism industry. As developers are expecting a strong increase in foreign direct investment, due to the governments push
9 million beyond the First Mortgage loan. In order that the company does not dilute its equity, it is recommended that the convertible and debenture issues are made. If the convertibles are taken as equity, the capital structure will be around 28.6% in two years not counting new retained earnings, and this is close to the target capital structure that UniHost has. It is recommended therefore that those two options
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