This industry comprises establishments primarily engaged in providing short-term lodging in facilities such as hotels, motor hotels, resort hotels and motels. These facilities may offer food and beverage services, recreation, conference rooms and convention services, laundry, parking and other services.
In cases where an establishment can also double as an event venue, there is even greater profit potential due to the recent resurgence in the events industry. 71% of event planners choose hotels over non-traditional venues, down slightly from pre-pandemic numbers, but steadily growing as in-person events continue to their comeback.
