The recent hurricanes that have affected the Gulf Coast and Florida have been responsible for many bad things. Loss of life, property damage, increased gasoline prices to name a few. It has affected the airline and shipping industry as well. However, for the hotel industry is has created a boon.
ORLANDO (AP) Ã¢â‚¬” Hurricane Katrina may be blamed for rising gas prices, squeezing airlines’ bottom lines and agriculture shipping delays, but it has been a boon for one industry: the nation’s hotel sector.
The lodging industry’s leading research firm on Thursday raised revenue growth estimates for the year by more than a half-percent as a result of Katrina, adding to what already was expected to be the sector’s best year since 2000 when the industry profited $22.5 billion on $113.7 billion revenue.