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Unformatted text preview: Because the Leisure and Hospitality Sector
depends heavily on discretionary spending and
the health of the national economy, the current
soft economic recovery continues to impact the
sector’s performance. Risk and uncertainty are still
on the table. The weak housing market, the ongoing debt crisis, and depressed consumer confidence
are keeping many American’s spending plans on
hold. While the sector has recovered from the
lows of 2008 and 2009, recovery has been sluggish.
The U.S. Travel Association has forecast a modest
1.8% increase in 2011 domestic person trips and
3.7% growth in 2011 international arrivals to
the United States. At the U.S. Travel Association’s
annual Travel Outlook Forum, held in late October 2011, Dr. Suzanne Cook, senior advisor to the
association, pointed out that after four years of
recovery, domestic travel has finally exceeded the
record set in 2007, and international travel is back
to the levels reached in 2000. The forecast for 2012
is continued slo...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.
- Spring '13
- The Lottery