It is estimated that there are 700,000 hotel facilities worldwide with combined annual revenues of $830 billion (Lake, 2016). In the U.S. alone, there are 4.9 million guest rooms that make up 68% of their total annual revenues (Mandelbaum, 2007). Special events, spa and health club facilities, golf, movie rentals, parking, and commercial leases make up the balance of hospitality revenues. Considered together, the hotel industry is vibrant, robust, challenging and a valuable economic contributor.
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