As we close the books on 2012 we are happy to say that all of our measurements of success at The Rose Hotel improved over 2011.
Our occupancy increased by more than 10 percent during 2012. In fact, occupancy rose every month throughout the year, portending an even greater 2013.
We trust your year was equally successful and we wish you an ever better 2013.
Naturally, we attribute our success to several factors, including our loyal guests for their repeat business and their referrals. We are also grateful for an economy that is working its way out of the doldrums of the worst financial crisis since the Great Depression.
We are a resilient country capable of absorbing and bouncing back from severe economic shocks, as the United States has demonstrated again and again. But the world as a whole is getting richer, as evidenced by the tremendous economic growth being experienced in emerging countries around the world, chief among them Brazil, China and India – and even Peru, Colombia, Turkey and Russia. The list goes on.
We see this first hand at The Rose Hotel because a significant share of our guests is business and leisure travelers from overseas. Just as Western European economies of post-World War II fueled enormous U.S. economic growth, many economic and geopolitical experts believe there is greater prosperity to be created and more wealth to be garnered by the expansion of Asian and Latin American economies.
Tens of millions of people have been elevated from poverty to middle-class status and have officially joined the consumer class. Travel is definitely one of the things these people of new means are spending their disposable income on. A whopping 62 million people traveled to the United State during 2011 (the most recent year for which statistics are available), that’s up from 55 million visitors in 2009, and 41 million in 2003. Among the fastest-growing sources of tourism business for the United States, based on percentage growth from 2010 to 2011, are:
By volume, the biggest sources of U.S. tourism during 2011 were:
The U.S. Department of Commerce projected that the U.S. travel and tourism industry was on pace for a record-setting year for2011, with international visitors pumping more than $150 billion into the U.S. economy.
Of course, U.S. tourists return the favor in a big way. World Bank statistics show U.S. travelers spending well in excess of $100 billion traveling the nations of the world.
It’s a great time to be in business, despite the world’s recent economic travails. And we couldn’t be more excited about being in the lodging, hospitality and tourism business, because it’s got a great future – and people are never happier than when they’re traveling and vacationing.
We’re sure you agree.