In recent years, a few large national hotel chains such as Marriott, Best Western, and Hilton have dominated the hotel industry. Travelers are familiar with establishments that exemplify dependability and quality at reasonable rates. Many hotels recognize the importance of brand loyalty to guests. In doing so, they have expanded their lodging options that are under one corporate name which includes a variety of hotels from limited service, affordable type hotels, and luxury inns. To help understand the tourism industry and the impact it has on the economy, this paper will cover a brief history with an overview, a SWOTT analysis of the Marriott Hotel, defining and addressing the impact of the real GDP, unemployment rate, inflation rate,
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A threat they are facing is the slowing of the tourism industry due to rising travel costs, for both car and airplane that forces less people to take vacations. Some trends that Marriott is participating in are internet-booking options. This is very attractive to travelers because of the convenience. Travelers are able to obtain availability, prices of room rates that are most affordable for them without even having to commit themselves to a reservation with a deposit. They have seen a 26% rise in internet sales from 2006-2007. This is beneficial to Marriott because they will use fewer operators to make reservations over the phone. Making high-speed internet available in hotel rooms is another current trend in the hotel industry, and Marriott has been staying ahead of that trend making it available in 900 hotels back in 2003.
Real GDP Based on data from the U.S. Bureau of Economic Analysis (2008), the United States Real Gross Domestic Product (Real GDP) has shown growth at both the aggregate level and within the accommodations industry over the past seven years. However, when viewing both sets of metrics annually, they are growing at different levels and have experienced some unique trends. Based on the US Department of Commerce data, the aggregate Real GDP has experienced an average annual of growth of 5.04% from 2000 to 2007; with more than 6% growth from 2004 through 2007. Even though some steady growth trends have been seen, there has been a