Hotels are one of few industries benefiting from Katrina (Hurricanes)

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) — 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.

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