The largest hotels are usually resorts that offer their guests a smorgasbord of shopping, dining and recreational choices. They often feature casinos and a full menu of live entertainment.
“Overall, the global hotel industry has recovered from the global recession of 2009. We are seeing healthy demand increases across the board [that] have led to increases in occupancy, which have given hoteliers a sense of pricing power,” says Jan Freitag, senior vice president at Smith Travel Research, a firm that tracks global supply-and-demand data for the hotel industry. “The increase in performance metrics, such as revenue per available room (a standard industry indicator), has attracted a lot of attention from developers. What we have observed across the board is renewed interest in the hotel space, and we expect new supply to be a mitigating factor to the prolonged growth rates of industry performance. Case in point is the luxury hotel industry in China, where demand growth has not kept track with the influx of new luxury rooms.”