See? We're Good For Business

Thursday, June 17, 2010

I simply give you this from the dry, but nevertheless educational Lodging And Hospitality site.

Unquestionably, the most important thing to happen in the hotel industry in the last 25 years has been the emergence of the Asian-American hotel community. Sadly, however, after all these years there still is lingering resentment and prejudice toward Indian hoteliers by guests and even others in the hotel industry.

The rest of us non-morons appreciate the stellar accomplishments of the 10,000-plus Indian-American hoteliers. They continue to lead the lodging industry in a number of crucial ways: They’re entrepreneurial, a trait that originally built the industry. While risk-takers, Indian hoteliers are also careful not to extend beyond their financial and organizational capabilities. And, finally, Asian-American hoteliers are fiercely family-oriented, another characteristic of the industry before Big Business discovered it. Many Asian-American-owned properties and hotel companies are now run by second- and even third-generation family members, who mostly retain the culture’s passion for hard work, smart growth and strong business ethics.

I was reminded of the contributions of Asian-American hoteliers by reading a new study from the Asian American Hotel Owners Association detailing the financial muscle of its 10,000 members. Collectively, they own 20,000 hotels with 1.8 million rooms and valued at $129 billion. That’s 40 percent of all the hotels in the U.S. and 39 percent of the guestrooms.
Holy Shit Batman - 40 percent of all the hotels?

Someone get me a MF deal!