Key travel industry trends identified for 2009

Hotels around the world are expected to continue seeing reduced business and leisure demand as global economies continue to contract in 2009. The global hotel industry remained profitable overall during 2008, however, as hoteliers acted to control costs and improving operating efficiency, according to a new report issued by Ernst & Young.

“There is little doubt that most markets in the current economic climate are challenging at best and growth will be hard to come by for most operators,” noted Michael Fishbin, the national director for Hospitality Services at Ernst & Young LLP.

He added: “As a result, this year we will see hotel operators continue to focus more of their energies on cost reduction, improving operating efficiencies in their hotels, reaching out to guests via enhanced Internet communication and strengthening their brands through an emphasis on green principles in activities related to both development and operations.”

The 2009 report on lodging in the U.S. also contains an overview of global hotel markets and in-depth analysis of the 17 main urban markets in America, including New York, Los Angeles, Chicago, Miami, Dallas and San Francisco.

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