The hotels and lodging industry shaped up pretty well in 2011 thanks to the gradual global economic recovery, and seems to be poised for long-term growth. With the return of business as well as leisure travelers coupled with decelerating supply growth, pricing power remained steady in the year. Improvement in the U.S. economy and the consequent rise in operating metrics helped most of the hoteliers report strong quarterly results. Group bookings appear to be gaining momentum and the companies registered strong advance bookings and pricing for 2012 and beyond. Booking windows are also lengthening. However, macro headwinds can partially restrain the booking momentum in 2012. International Growth Owing to the saturation in the U.S market, major hoteliers are exploring growth opportunities abroad. Some international markets offer greater potential based on
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