Going into 2014 the tourism industry has recovered ahead of the economy for the first time in history, this is unusual considering the lodging industry has run in sync with all major economic trends in the past.
Normally, the economy improves and the lodging industry trails about six months later. In 2010, the economy continued to remain in a recession while demand for lodging began to improve.
From 2011-2013 this trend was followed with additional growth in both occupancy as well as average daily rates. As many of us are aware, going into the 2012 elections the economy was just barely coming out of its recession yet many drivers have been laid out ensuring the lodging industry will be moving forward in 2014.