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A Pleasant Patch of Light in 2009 Travel Forecast - An HVS Insight - |
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Visa Waiver Program may Attract up to One Million New Visitors to U.S
Russ Rivard, Vice President HVS Consulting & Valuation Services, offers a concise view of “What Hotel Stakeholders Need to Know…” in a November 17, 2008 Report. These two nuggets caught our attention:
Prepare to host more foreign visitors. Tourist travel will increase as worldwide economic pressures diminish, and the U.S. should continue to be a major tourist destination as the creation of a new middle class gains momentum in countries around the world. Enormous potential for U.S.-bound tourism exists in India and China, and the addition of seven Asian and European countries to the Visa Waiver Program is expected to encourage another million travelers per year to the U.S.
Keep perspective. The hotel industry successfully climbed
out of another recessionary period earlier this decade and went on to
reach record revenues and profits over the past several years. Thus,
the recent declines are from historic highs, and the industry should
once again resume a profitable ascent. Last week we asked Rivard
whether changed circumstances since November had altered this
perspective “Let’s put it this way,” he said. “ It is no better right
now. We are pretty much in the eye of the storm. But I think it will
get better in the last two quarters of ’09.” http://www.hvs.com/Jump/?aid=3601
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