Economics 360

Hotel Industry ECO 360 January 10, 2007 The hospitality industry has changed a lot since the early 1900s. In the early 1900s, a typical first-class hotel offers steam heat, botch up burners, electric call bells, baths and closets on all floors, billiard and test rooms, barbershops, and liveries. The Lenox Hotel, known today as The Lenox Hotel & Suites/Village Lodge, offered fireproof living accommodations, unexcelled cuisine, a shower bath, roof garden, and American/European lodging plans showtime at $2.00 a day. As wonderful and nickel-and-dime(prenominal) as that sounds prices today in 2007 have rates starting on an average of $100.00 bucks a night. Today we can decl atomic number 18 for sure that the hotel industry has developed into a multi billion dollar corporation. Hotels have changed in size, structure, price and commodities mainly for the sole determination of the consumers comfort. One way of life to look at it is by using the SWOT process and determining what makes up the industry. As we looked at the hotel industry in the U.S. as a whole, we set many factors that play into the economics of it. SWOT stands for strengths, weakness, opportunities, and threats. As we took a closer look at all of these headings, we came up with contrary factors for each.

In the strength category, some of the variables that we noticed were your general, most perceptible factors. For example, location plays a big factor in the hotel industry. The locations of the hotels are strengths because of the convenient locations that give access to the visitors to different amenities. Other factors that we came up with were ambience in a hotel setting, consistency in the way the guests are treated, the amenities that the hotel has to offer, well-controlled finances, and good benefits. We put good benefits in there because it plays into the economic running of a hotel. If they have glad employees that are content with their job and their company, they will reflect that status onto the guest while serving them. In the weakness... If you want to draw in a full essay, order it on our website: Orderessay

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