Business Commons^™

Can The Demand Problem Be Fixed? The Effect Of Economic Crisis On The Lodging Sector Of The Tourism Industry., Kirsten Costello

Honors Theses

While hospitality started with small inns and bed and breakfasts run out of a family's home, the first hotel was a 73-room property in New York City, which was astronomically larger than consumers were accustomed to, (Withiam, 2000, p. 2) and is considered small by today's standards. Throughout life, at one point or another, most have stayed at a bed and breakfast, timeshare, motel, or hotel. Most enjoy the experience, but few realize what happens to lodging properties when there is an economic downturn. During times of economic crisis, families and businesses tend to spend more time controlling expenses, which …