The Effect of Economic Recession on Hotel Performance and Guest Patronage

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Nigeria’s hotel industry performance was influenced   by the country’s economic recession during the third quarter of 2016 and a sour NGN/USD exchange rate. In an attempt to lessen the consequences of the devaluation of the Naira, hotel operators cannot increase the price of rooms in Naira to repay for the loss in value against the dollar, meaning the all-important foreign currency earnings are no longer supporting the industry.  Other problems  experienced by the industry include expensive but erratic power supply, a steadily increasing number of hotels entering the market, lack of grading standards and inadequate hospitality skills. 

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APA

Jones, E. (2019). The Effect of Economic Recession on Hotel Performance and Guest Patronage. Afribary. Retrieved from https://afribary.com/works/the-effect-of-economic-recession-on-hotel-performance-and-guest-patronage

MLA 8th

Jones, Evelyn "The Effect of Economic Recession on Hotel Performance and Guest Patronage" Afribary. Afribary, 12 Nov. 2019, https://afribary.com/works/the-effect-of-economic-recession-on-hotel-performance-and-guest-patronage. Accessed 30 Nov. 2022.

MLA7

Jones, Evelyn . "The Effect of Economic Recession on Hotel Performance and Guest Patronage". Afribary, Afribary, 12 Nov. 2019. Web. 30 Nov. 2022. < https://afribary.com/works/the-effect-of-economic-recession-on-hotel-performance-and-guest-patronage >.

Chicago

Jones, Evelyn . "The Effect of Economic Recession on Hotel Performance and Guest Patronage" Afribary (2019). Accessed November 30, 2022. https://afribary.com/works/the-effect-of-economic-recession-on-hotel-performance-and-guest-patronage