Companies in the hospitality industry offer accommodations for travellers. Resorts, hotels, motels, and bed and breakfast inns are in this category.
The hospitality sector also includes recreational vehicle (RV) parks and recreational camps.
Key economic indicators affecting hospitality-related businesses include travellers’ personal income, employment levels, and corporate profits.
When consumer confidence surges, travel frequency increases for business and leisure travellers.
Hospitality providers benefit in favourable economic times.
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