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This excerpt taken from the WYN 10-K filed Feb 29, 2008. Industry
Overview
The hospitality industry is a major component of the travel
industry, which is the third-largest retail industry in the
United States after the automotive and food stores industries.
The general health of the hospitality industry is affected by
the performance of the U.S. economy. In 2007, the
U.S. economy experienced real GDP growth of approximately
2%. In 2008, U.S. real GDP is expected to grow by
approximately 2.5%, however, some economists believe that recent
increased default rates on sub-prime and adjustable rate
mortgages and the associated negative impact on credit and
housing markets may adversely affect 2008 GDP and may even lead
to a recession.
The hospitality industry includes the segments in which Wyndham
Worldwide operates—lodging, vacation exchange and rentals,
and vacation ownership. In spite of the challenges faced by the
hospitality industry, including terrorism, pandemics and natural
disasters, the industry is growing. In 2007, domestic and
international travelers spent in the United States an estimated
$740 billion, which represents a nearly 5.7% increase from
2006.
This excerpt taken from the WYN 10-K filed Mar 7, 2007. Industry
Overview
The hospitality industry is a major component of the travel
industry, which is the third-largest retail industry in the
United States after the automotive and food stores industries.
The general health of the hospitality industry is affected by
the performance of the U.S. economy. From
1981-2006,
the U.S. economy has performed solidly as evidenced by the
growth of the U.S. real Gross Domestic Product, or real
GDP, at a compound annual growth rate, or CAGR, of 3.2% over the
period. In 2006, the U.S. economy continued to perform
solidly and it is expected to continue to perform solidly in
2007 and 2008 with real GDP expected to grow by approximately
2.6% and 3.2%, respectively.
The hospitality industry includes the segments in which Wyndham
Worldwide operates—lodging, vacation exchange and rentals,
and vacation ownership. In spite of the recent series of
unprecedented challenges faced by the hospitality industry,
including terrorism, Severe Acute Respiratory Syndrome (SARS)
and natural disasters, the industry is growing. In 2005,
domestic and international travelers spent in the United States
an estimated $646 billion, which represents nearly an 8%
increase from the prior year. In 2006, it was expected that the
total spending by such travelers in the United States would
reach $675 billion, which would be an increase of nearly 5%
over 2005’s spending. This level of expected spending in
2006 was 16% higher than the spending in 2000, the year prior to
the September 11, 2001 terrorist attacks.
This excerpt taken from the WYN 8-K filed Jul 19, 2006. Industry Overview The hospitality industry is a major component of the travel industry, which is the third-largest retail industry in the United States after the automotive and food stores industries. The general health of the hospitality industry is affected by the performance of the U.S. economy. From 1981-2005, the U.S. economy has performed solidly as evidenced by the growth of the U.S. real Gross Domestic Product, or real GDP, at a compound annual growth rate, or CAGR, of 3.1% over the period. The U.S. economy is expected to continue to perform solidly in 2006 and 2007 with real GDP expected to grow by approximately 3.5% and 3.4%, in 2006 and 2007, respectively. The hospitality industry includes the segments in which Wyndham Worldwide operates—lodging, vacation exchange and rental, and vacation ownership. In spite of the recent series of unprecedented challenges faced by the hospitality industry, including terrorism, Severe Acute Respiratory Syndrome (SARS) and natural disasters, the industry is growing. In 2005, domestic and international travelers spent in the United States an estimated $646 billion, which represents nearly an 8% increase from the prior year. This year, it is expected that the total spending by such travelers in the United States will reach $675 billion, which would be an increase of nearly 5% over last year’s spending. This level of expected spending in 2006 is 16% higher than the spending in 2000, the year prior to the September 11, 2001 terrorist attacks. | EXCERPTS ON THIS PAGE:
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