How the Hospitality Industry is Faring in the Current Economy

According to the American Hotel & Lodging Association (AH&LA), the travel and tourism industry is one of the United States’ largest employers and ranks as one of the top ten industries in 48 states and the District of Columbia.  If you work in the hospitality industry, you know the incredible impact it has on the nation’s economy.

AH&LA reports the following impressive spend by resident and international travelers:

  • $2.3 billion per day
  • $97.6 million an hour
  • $1.6 million per minute
  • $27,125 per second

(source: AH&LA  2013 LODGING INDUSTRY PROFILE)

Although these figures are impressive, the reality is that the hospitality industry is undergoing a major shift.  The redistribution of consumer spending in the economic downturn means budget-friendly hotels and restaurants (including fast food) will see a boost in their sales as will the top-tier luxury brand hotels and restaurants thanks to the rise in concentration of wealth.  Those service providers “in the middle” – casual dining, mid-tier hotel brands – may be disappointed by their performance in 2013. (source:  HospitalityDaily.com)

How Can Hospitality Brands Foster Growth?

In a December 2012 article on HotelMarketing.com, Deloitte noted,

“Successful industry operators may adopt new technologies for the purpose of information, promotions, bookings and reservations, and general management-control systems.” (source: HotelMarketing.com)

lead management for hospitalityOne technology hospitality businesses should consider is lead management software to help drive sales.  Industry operators can improve customer loyalty and increase the levels of new bookings and group sales through the implementation of an outbound call campaign and lead management system.  The VanillaSoft solution gives hospitality operators the ability to reach existing and potential customers more effectively and efficiently through:

LEARN MORE