micro
The recession is an economic factor effecting the hotel industry. The recession has a large impact on the hotel industry as this means fewer people have disposable income; therefore staying in hotels for leisure purposes are becoming less popular.
Lewis. J Uncontrollable variables that affect the hospitality industry. Available from: http://smallbusiness.chron.com/uncontrollable-variables-affect-hospitality-industry-38795.html
[Accessed 09 October 2013]
Another economic factor to effect the hotel industry is the tax increase on air travel. Placing a tax increase on air travel means the prices for flights are rising, therefore fewer people, again, are unable to afford the prices to be able to travel to their holiday destination. The tax increase on air travel not only effects leisure customers, but also business passengers that tend to move between countries for conferences. Although hotels abroad are being effected, those countries, such as the UK, with many business residents are at an advantage, as they are now using hotels in their own city for conferences, instead of travelling further.
QFinance- hotels and tourism industry. Available from: http://www.qfinance.com/sector-profiles/tourism-and-hotels [Accessed 09 October 2013]
Wage and unemployment level is another economic factor effecting the hotel industry. Unemployment levels are rapidly increasing, whereby, this is leaving more and more people with a tiny income per month. The unemployment level then means that fewer people have income to spend on leisure purposes, and those that do will tend to spend on lower budget accommodation such as travel lodge; having a bad effect on the higher level hotels such as Marriott.
BBP Learning Media (2009) the global hospitality industry Available from: http://ncba.ie/student_and_teacher_resources_files/The_Global_Hospitality_Industry.pdf
[ Accessed 09 October 2013]
Exchange rates have an effect on the hotel industry; this is because people will
Lewis. J Uncontrollable variables that affect the hospitality industry. Available from: http://smallbusiness.chron.com/uncontrollable-variables-affect-hospitality-industry-38795.html
[Accessed 09 October 2013]
Another economic factor to effect the hotel industry is the tax increase on air travel. Placing a tax increase on air travel means the prices for flights are rising, therefore fewer people, again, are unable to afford the prices to be able to travel to their holiday destination. The tax increase on air travel not only effects leisure customers, but also business passengers that tend to move between countries for conferences. Although hotels abroad are being effected, those countries, such as the UK, with many business residents are at an advantage, as they are now using hotels in their own city for conferences, instead of travelling further.
QFinance- hotels and tourism industry. Available from: http://www.qfinance.com/sector-profiles/tourism-and-hotels [Accessed 09 October 2013]
Wage and unemployment level is another economic factor effecting the hotel industry. Unemployment levels are rapidly increasing, whereby, this is leaving more and more people with a tiny income per month. The unemployment level then means that fewer people have income to spend on leisure purposes, and those that do will tend to spend on lower budget accommodation such as travel lodge; having a bad effect on the higher level hotels such as Marriott.
BBP Learning Media (2009) the global hospitality industry Available from: http://ncba.ie/student_and_teacher_resources_files/The_Global_Hospitality_Industry.pdf
[ Accessed 09 October 2013]
Exchange rates have an effect on the hotel industry; this is because people will