Word: travelled
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Dates: during 2000-2009
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...mainstream that even the Southern Baptists had a convention in the city. "Visitors were coming to hotels at rates of 90% - a signal to expand," Schwer explains. "And interest rates dropped, so there was readily available cash to do just that." Jan Freitag, a hotel analyst at Smith Travel Research, agrees: "There was the sense that if you build it, they will come - that there was this pent-up demand...
...Vegas, in doubling down on the travel sector, had not diversified its economy. As the visitor rate dropped 10% in October, average daily room rates fell 14% and gaming revenue dove 26%. The hotel-casino downturn sent ripples across the city that turned into a tsunami. "In our union halls, 30% of members were what we call travelers," says Steve Holloway of the Las Vegas chapter of the Associated General Contractors of America. "They came here for the work, and now they're going home." The construction industry alone employs 10% of Las Vegas's population...
...Campaigning and raising sons are mutually exclusive. Campaigning requires lots of travel, enormous amounts of time in the public eye and months and months of sitting down quietly listening to the same guy talking while wearing your good clothes. It's like 11 straight months of being in church when you're the preacher's kid - with long car rides in between. It's torture on adults, let alone children. But it's worse for boys. Try this experiment: next month ask your son to be on his best behavior in front of other people, from now until November...
...positive forecasts until just months back. In the last few years, while the economy was projected to grow at 8% to 9%, top names in hospitality like Four Seasons and Aman were making forays into India to fill the huge supply gap in the top-end executive and leisure travel segments. Five-star room rates in key cities had grown by 40% year-on-year in 2007, and a report by Jones Lang LaSalle Hotels, the hotel investment and advisory service provider, had predicted India would need to add 150,000 new rooms in the next four years to keep...
Meanwhile, those still keen to travel can take advantage of falling prices and discounted packages, though they may still have to put up with security scanners and sniffer dogs. But while the shock of the Mumbai attack may wear off soon, the economic downturn has only just begun to bite, and many expect next year to be worse. "We are all aware of the Bali and Madrid incidents and how things have looked up after that," says Sud of FHRAI. "But yes, the economic meltdown may last a bit longer...