By Robert A. Rauch, CHA
As an observer and active participant of our industry through five economic recessions and expansions, it is clear to me what will occur over the next five years. That is not to say I know more than others but history does repeat itself and all of the competent hotel industry consultants know that we are in the early stages of a long economic expansion. While there have been exceptions, particularly the Reagan years, five years is the most likely time period we can expect for the expansion to continue. That means 2011-2015. Two years ago, we hit bottom as an industry. We are now experiencing the end of the “hangover” from the great recession of 2008.