Hospitality and Leisure "Article"
Hospitality is one of the world’s largest industries, with travel and tourism accounting for 9% of Global GDP.
According to the Tourism Industry Association of America (2003), most (75%) U.S. adult travelers attended a cultural activity or event while on a trip in 2002. This translates to an estimated 109.8 million U.S. adults. In addition, one fifth of all U.S. travelers attend a fair, festival, or other special event during their vacation Tourism Industry Association of America, 1999). Millions of individuals attend events throughout North America ranging from the Super Bowl to small town festivals and parades.
These events have been described by the U.S. Department of Homeland Security as “soft targets” because they enable terrorists to quickly make a powerful statement during a vulnerable and easily penetrable event. Research conducted in the National Laboratory for Tourism and eCommerce (NLTeC) at Temple University in Philadelphia, Pennsylvania seeks to reduce these possibilities through the development of an online knowledge-based system called eSAFE (electronic Safe Festivals and Events) System based on knowledge management concepts.
Article about Las Vegas
Prior to the recent global economic crisis, many believed the Las Vegas gaming industry was recession-proof, quoting performance from the last two economic downturns (2001–2002 and 1990–1991) as evidence of the city’s invincibility. However, Las Vegas in 2009 may have suffered the most serious decline of any market. Each of the key metrics, including the number of travelers, gaming revenues, business conventions, hotel occupancy, room rates, airline traffic, and vehicle traffic have all fallen sharply. In the past, significant growth in the market came from both gaming and non-gaming revenues, such as room revenues, restaurant revenues and show revenues – but these revenue streams have all been impacted by the recession.
As a result of steep price discounting, the city’s revPAR through November 2009 had plummeted 32% from the first 11 months of 2008. RevPAR declined for 17 consecutive months through November, with June down a staggering 46%, making it the worst month of the year. Due to the city’s difficult housing market and the drop in tourists, unemployment in the state of Nevada reached record levels in 2009. The city is also experiencing increased competition from states that have recently been passing laws allowing various types of gaming activities. As a result, gaming revenues in Las Vegas have been declining for nearly two years, according to the gaming commission.