Accommodation Sector
Disposable income
Hospitality industry is heavily affected by economic uncertainty as consumers rely on disposable income to meet their travel needs. Historically, there’s an economic parallel between RevPAR (Revenue Per Available Room) and GDP (HotelNewsNow, August 2014). According to Deloitte’s report on Hospitality 2015, demand for hotels overall has fallen four times faster than GDP during the recession in 2009, the most dramatic fall seen over the past century.
Implications for types of accommodation
In the late 2008, the global economy experienced an economic downturn; its implications for the accommodation industry are far reaching. During the economic recession, it caused both business travelers and pleasure travelers to reduce their spending in travels.
What are select-service hotels?
According to the Manual of Introduction of Hospitality on Hotels and their classifications, there are nine types of classification factor:
Based on the above classification factors, Select-service hotels are classified by the price factor. In general, hotels under this classification (price) factor can actually further break down into three main classes, and Select-service is one of the three classes:
1. Limited-Service
2. Select-Service
3. Full-Service
Share with your friends: |
