News

Hospitality Challenges

03.11.2010

Recently, the Hospitality industry has faced many challenges, including a global recession, a credit crisis, natural disasters, pandemics, and terrorist attacks. But now, for the first time in more than a year, reports show an increase in occupancy. However, average daily rates continue to slide slightly as hoteliers struggle to keep rate structures intact. But with positive signs bubbling, we feel confident global room supply will continue to grow. Occupancy always recovers much faster than room rates, and soon average daily rates will catch up. Let's look positive forward in a rewarding year 2011.