At this point, everyone's as sick of hearing about the state of the economy as they are about experiencing it. Thus, we are happy to report that the hotel industry seems to have survived the worst of the recession. Not only has 2010 exceeded last year's figures, strides have been made in RevPAR (Revenue Per Available Room), cruise bookings and business travel. One particular region that fared well was Europe. The volcano eruption in Iceland created a decrease in bookings, but hotel occupany rates saw an increase of 135 percent during the period.
In 1972, the British government spent $130 million on hotels throughout England, Scotland and Wales. Making up 20 percent of new hotels construction, the program fueled private hotel construction, including small family hoteliers and large chains. (Read the full article here.)
Although we're still waiting for the recovery to come full-circle, recent accounts would make our predecessors proud, showing that early reports have indeed come to fruition, led in particular by hotels, as family vacations accompany business travel throughout London; Scotland's capital, Edinburgh, opened three luxury hotels and Wyndham Hotel Group set its sights on a 2013 opening of its $90 million hotel in the capital of Cardiff.
As we celebrate our 80th anniversary, we're taking a look at what was happening in the industry in the past and asking agents to share their thoughts on what has changed in the industry in the present. Please share your thoughts by posting a comment below, writing us at our Facebook page, sending a tweet to our Twitter page or by engaging in a discussion in real time at AgentNation (the only social community online for all kinds of travel agents, which certainly wasn't around 80 years ago). We want to hear from you.