Recovery coming soon, barring further problems
We’re within a year or two of full recovery for the hospitality industry, according to a survey of executives attending New York University’s 26th Annual International Hospitality Industry Investment Conference, held at New York City’s Waldorf=Astoria Hotel this week. Sixty-two percent said they believe a return to 2000’s average daily rates will be here by 2006, and that revenue per available room was the key indicator for when the boom times begin to return.
They said that the biggest potential roadblocks to that recovery were, not surprisingly, potential terrorism attacks (51 percent) and the economy (35 percent). Revival of corporate travel (63 percent) and the rate of job growth (22 percent) are the factors cited as having the greatest effect on the pace of recovery.
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