Name the five major events that happened between 2001-2004 that affected the demand in the lodging...

Name the five major events that happened between 2001-2004 that affected the demand in the lodging industry. How did they affect demand?

Expert Solution

A) Increase in population: With the increase in population there was also a demand for the need of more spaces to fit in the housing demand. It therefore needed more rooms to fit more people. Therefore, with this there was increase in demand in the lodging industry.

B) Travel business: During this period travelling became a sport and this increased a need for the people to stay at safe and clean places, which boosted the lodging business.

C)Tourism : Tourism in various countries was seen as a rising industry and brought great profits. In order to satisfy the need of the tourism industry it was necessary to increase places to stay.

D) Easy loans : The housing bubble that started in the US market led to increase in lodges like motels built with easy loans. The people could not afford houses at cheaper rates.

This indeed boosted the demand of the lodging industry, more than what it was initially. This resulted in to profitable chains of hotel businesses.

Rahul Sunny answered 1 year ago

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