Business English Lesson – Advanced Level''''s archiveThe New York Hospitality Industry pdf

Business English Lesson – Advanced Level's archive The New York Hospitality Industry 1.. "New York City's hospitality industry is .... According to industry leaders, 44 million visitors

Business English Lesson – Advanced Level's archive

The New York Hospitality Industry

1 "New York City's hospitality industry is fire," the

global chairman of brokerage services at CB Richard Ellis,

Stephen Siegel, said, "People from around the world want

to visit New York and of course, they all need places to

stay."

about

in

on

under

2 Supply cannot meet the demand which has been

created by more than 41 million visitors to the city in

2006

no

some

the

yet

3 According to industry leaders, 44 million visitors — a

record number — are expected this year, helping to

the hospitality fire

burn

fuel

kindle

singe

4 Owners and operators in the hospitality are

saying they have not experienced such impressive cash

flow, hotel property selling prices, and availability of

financing for close to a decade

area

arena

section

sector

5 Even after several years of growth, real estate

experts say the market is improving so far in 2007

absolute

affirmative

positive

potential

6 "Occupancy levels have been close to capacity for the

second year in a row, and room rates had another year of

double- growth," the president of Lodging Advisors,

Sean Hennessey, said

bed

digit

standard

unit

7 In of this, more and more people assume the

pace of improvement must moderate; and yet, for the first

quarter of 2007, occupancy is up about 1 percentage point

over last year, and room rates are up 12%

case

lieu

light

proof

8 The Manhattan hotel market is hot, with demand

for hotel rooms far outstripping supply

flame

pot

stove

white

9 During the past several years, several thousand hotel

rooms have been lost from the city's inventory due to the

of existing hotels to residential use

conservation

conversion

restoration

reversion

10 As the New York lodging market continues to

experience increases in average rates, and as the robust

residential market slows down a bit, we are now seeing

that hotel economics begin to out the feasibility of

new hotel development

draw

eke

pencil

sketch