2014 Hospitality Giants: Growth
Globalism is still a factor, though the amount of overseas work, which grew steadily for years, has leveled off in the low-to-mid 30 percent range, specifically 33 percent now. Among the hospitality Giants, 23 do more than half their work overseas, while six of the top 10 firms aren’t based in the U.S. to begin with. This nevertheless means that two thirds of the work is in the U.S., and 80 percent of firms expect this country to have the biggest growth potential.
The question, as always, is where will future work come from? Last time, the predictions said the West Coast and South would be hot, and they’ve grown hotter. Only 27 percent say the Midwest will grow, but it’s notable to point out that two years ago only 20 percent did.
So “business as usual,” as defined by these numbers, is pretty darn good. And while it’s true that everyone loves a “business is booming” period, that may yet be to come. The 75 hospitality Giants see even better days ahead, with 64 expecting growth. Which brings to mind one final cliché: “Numbers don’t lie.”