The Costs of Hotel Development

November 25, 2009

Each year since 1976, HVS Consulting and Valuation has researched hotel development costs. The 2009 HVS Hotel Development Cost Survey is now available in the library. HVS compiles the information from their database of actual hotel construction budgets, industry reports, and uniform franchise offering circulars.

The survey considers data for six lodging types: Economy/Budget Hotels, Midscale Hotels w/o F&B, Extended-Stay Hotels, Midscale Hotels w/ F&B, Full-Service Hotels, and Luxury Hotels and Independent Resorts.

The 2009 copy of the HVS Hotel Development Cost Survey can be found the in the Nestlé Library reference collection (call number TX911.2 H674).


Top Full-Service Seafood Restaurant Chains

November 16, 2009

Who were the top seafood full-service restaurant chains last year? It’s probably no surprise that Red Lobster topped the list. According to Technomic, the top 5 seafood chains in 2008 were:

Rank Restaurant Sales ($000) Units
1 Red Lobster 2,494,700 655
2 Bonefish Grill 400,000 149
3 McCormick & Schmick’s 390,000 88
4 Joe’s Crab Shack 327,000 116
5 Legal Sea Foods 207,500 34

Additional data about restaurant chains can be found in the Technomic Digital Resource Library, which is available to all members of the Cornell University community.


Why Now is the Time to Open a Restaurant

November 9, 2009

Opening a new restaurant is a big gamble, even in good economic times, with three out of four places closing within the first three years. But according to the latest edition of Entrepreneur magazine, now is a great time to open a restaurant.

The upsides to a down economy make it a risk worth considering. Among the reasons: rents have dropped by as much as 66 percent in prime locations, and landlords are actually offering abatements. There’s a huge pool of talented chefs and workers desperate for jobs and willing to work for much less.

For more information, read the full article from Entrepreneur. Copies of the magazine are also available on the Current Periodicals shelf in the library.


Top Web Pick: Power of Travel

November 5, 2009

Travel is vital to the nation’s economy. According to the U.S. Travel Association, domestic and international travelers spent $772.9 billion in the U.S. in 2008. Each of the 50 states benefit from the impact of travel, both in terms of expenditures and employment. So which states benefit the most?

The Power of Travel is a web site maintained by the U.S. Travel Association that tracks the state-by-state economic benefits of travel. For each state, find the spending, tax revenues, and number of jobs created by the travel industry.

Additional travel sources can be found in the Nestlé Library’s Travel & Tourism industry guide.


New Book: The Darker Side of Travel

November 3, 2009

Dark tourism – the practice of traveling to sites associated with death, disaster, and suffering – has attracted growing academic interest and media attention over the last few years. From Pearl Harbor to Chernobyl to Ground Zero in New York, tourists flock to these ominous destinations.

In The Darker Side of Travel, the authors provide a contemporary and comprehensive analysis of dark tourism. Drawing on existing literature, numerous examples and introducing new conceptual perspectives, the book develops a theoretically informed foundation for examining the demand for and supply of dark tourism experiences.

The Darker Side of Travel can be found on the New Book shelf in the Nestlé Library (call number G155 A1 D33).


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