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The Global Hotel Industry

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1.1.1. The Global Hotel Industry:
An ever-increasing number of destinations worldwide have opened up to, and invested in tourism, turning it into a key driver of socio-economic progress through the creation of jobs and enterprises, export revenues, and infrastructure development.
Over the past six decades, tourism has experienced continued expansion and diversification to become one of the largest and fastest-growing economic sectors in the world. Many new destinations have emerged in addition to the traditional favorites of Europe and North America. World Tourism Organization [UNWTO] (2017)
Tourism has boasted virtually uninterrupted growth over time, despite occasional shocks, demonstrating the sector’s strength and resilience. International …show more content…

In many developing countries, tourism is the top export category.
International tourist arrivals (overnight visitors) in 2016 grew by 3.9% to reach a total of 1,235 million worldwide, an increase of 46 million over the previous year. It was the seventh consecutive year of above average growth in international tourism following the 2009 global economic crisis. A comparable sequence of uninterrupted solid growth has not been recorded since the 1960s.
Demand for international tourism followed the positive trend of previous years, with many destinations reporting sound results, while a few faced security incidents. Some redirection of tourism flows was observed, though most destinations shared in the overall growth due to stronger travel demand, increased connectivity and more affordable air transport.
By Table 1, UNWTO (2017) region, Asia and the Pacific led growth in 2016 with a 9% increase in international arrivals, followed by Africa (+8%) and the Americas (+3%). The world’s most visited region, Europe (+2%) showed mixed results, while available data for the Middle East (-4%) points to a decline in …show more content…

Despite all these gains, several hotel companies are struggling with debt, high level costs and management challenges. This therefore forces hotel managers to seek to generate profits that will help meet the above costs and thereby improving their performance. Hotels have henceforth continued to develop out of tourism efforts and this has brought a lot of challenges related to their performance with the aim of to meet international standards. (Wanjiku 2009)
These challenges have necessitated a study by various authors on the drivers of performance in hotels. The hotel industry has been identified as one of the most important sectors that have a positive correlation to tourism industry because no country or region can expect to attract tourists unless it has hotels. The general pressures which have been brought about by globalization and internationalization coupled with star-ratings and membership to international hotel associations, have also challenged hotels to improve on their performance. (Mureithi, Morara &
Michael,

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