HTD 500 Lecture 3: Chapter 3
14 Jan 2019
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Chapter 3: demand for transient accommodations: micro demand: demand w/in limited geographic area such as town, city/ county (primarily interested, macro demand: broader in scope, take into national & international travel pattern. Macro data compiled by government & industry org. 10/ more ppl important market segment for full-service hotels w/ meeting & banquet space: categorize of meetings. Corporate: organized by businesses & serve specific commercial needs. Convention: large gatherings that serve business & social interests. Leisure travel: consist individuals & families spending time in area/ passing through en route to other destinations, purpose of travel: sightseeing, recreation, relaxation, vfr, leisure demand strongest on fri & sat nights, holiday periods, summer months. Negatively correlated w/ business visitation= demonstrate stabilizing effect of leisure travelers length of stay: 1-4 days, high double occupancy rate. Most price-sensitive: prefer low-rise accommodation w/ parking near rooms, demand extensive recreational facilities & amenities.
