Because the leisure and hospitality sector depends

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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.

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