An entrepreneur well-versed in hospitality, Dr. Bharat Lall oversees Pinnacle Hotels USA as president and CEO. In his leadership role, Bharat Lall, MD helps the organization manage nine hospitality properties encompassing hundreds of employees and rooms.
Worldwide in 2016, the hospitality industry is likely to accumulate more than a half trillion dollars in revenue. Just five years earlier, the industry’s international take was about $450 billion, meaning hospitality has grown by about $100 billion in the five-year period between 2011 and 2016.
Since 2014, occupancy rates have continued to climb globally. In terms of occupancy rates by region, Europe has the the highest rate at nearly 69 percent. The Asia Pacific region ranks just under Europe, and the United States has a 64.5 percent occupancy rate.
For the US hospitality industry in 2017, signs indicate that as supply catches up to demand, revenue could slow. However, stakeholders see such a slowdown less in terms of a recession and more in terms of a healthy stabilization of a strong business cycle.