Notes

It is not easy for a New Orleans hotelier to forecast the effects from an event such as Hurricane Katrina. Based on the past experiences, tourism revenues can be severely disrupted by disasters like tornadoes, hurricanes, floods, or earthquakes. The hotel's revenue would surely suffer if there were a major incident that led to thousands of dollars in damage to property.
The same events can affect hotel revenues as other industries. The research suggests that recovering from the pre-existing issues could be as long as twenty-three months or longer. 의정부op have been offered by investors regarding the future expectations for business in the hotel sector as evident by the recent performances of various real estate investment trusts (REITs). The revenue of hotels can also be affected by slight changes in the economic outlook. Changes in hotel sales could affect your bottom line. This can eventually impact your financial results.

The negative effects of disasters like Hurricane Katrina are directly related to a surge of travelers from different states resulted in a sharp decrease in hotel revenues for the city. The decline in hotel revenue could result in a drop in rates for guests. This assumption is common among businessmen. Due to increased demand the assumption seems reasonable. But what few businessmen are aware of is that a decrease in room prices at a hotel may have an indirect yet very real influence on New Orleans economy. The drop in rates for hotel rooms could result in an indirect impact on the city's population.

Like I mentioned the hurricane Katrina had a devastating impact on New Orleans. However, its most devastating impacts were felt in New Orleans' largest city which is Slidell. Nearly everyone living in or is near Slidell is aware of the huge destruction and damage created by the full-service response. Do you know that New Orleans was one of the worst-hit cities in terms of the amount of structures that were damaged or destroyed in the catastrophe? So, did the city's hoteliers. The owners of hotel operations are already taking steps to limit any potential negative effects on New Orleans.


Hotel operators, especially those with multiple hotels in various parts of New Orleans, are already adopting proactive measures to secure the New Orleans market. They are employing certain employees to do this. Another way is by cutting off some of their hotel services-for example the possibility of reducing the number of hotel workers who are full-time and instead turn that function into part-time staff. Another option to prevent unauthorized access is by using digital locks and other security measures aimed at keeping guests out of hotel rooms. All of these are measures that have the potential to be significant for the New Orleans economy, even prior to the devastation of a magnitude of Hurricane Katrina created.

Alongside protecting hotel facilities from the negative effect of hurricane Katrina affected hotels' occupancy rates as well as revenue levels, other types of New Orleans-based businesses are taking action to deal with the post-Katrina economic slowdown. Numerous local retailers and manufacturers have announced closures of stores or retraining plans, as well as closing of warehouses. Even though the economy remains slow, certain areas in New Orleans have seen the benefits of increased store traffic and lower travel restrictions. In the aftermath of Katrina, the hurricane that hit New Orleans in 2005 Katrina, such local businesses were able to profit benefit of reduced prices, increased consumer confidence, and more favorable travel and hotel conditions to boost sales.

If New Orleans experiences a slow process of recovery as a result, the effects of slowed hotel revenues won't be evident until the later part of the year, where the city is expected to experience a bumper holiday season. Hotel owners are suffering extraordinary economic effects from the downturn. Many of the largest chains, the impact of the recession was very minimal, if even had any effect.

Business cycles and economic cycles both play an important role in the influence of pre-pandemic demand on the occupancy rate. However, if New Orleans experiences a period of above-trend occupancy, it's a promising sign of the market for commercial real estate as well as New Orleans itself. The effects of hurricane Irma are likely to be reversed once occupancy rates increase and taxable income starts to increase. If nothing else the fact that a time of high occupancy could be the foundation of a healthy tourism economy that could help to boost the struggling city's businesses for a long time even after the flood waters have receded.

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