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Description:
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As America's hospitality industry proceeds into the 21*' century , most industry professionals are projecting an optimistic future for the lodging and restaurant industry . Revenues from the lodging industry are expected to exceed $100 billion in 1999 and continue to climb nearly 6 .2 percent in both the year 2000 and the year 2001 (PricewaterhouseCoopers L .L .P . , 1999 ) . The National Restaurant Association (1999 ) forecasts that restaurant -industry sales will increase 4 .6 percent in 1999 to hit a record $354 .0 billion .
Realization of these projections is dependent upon hiring an increasing number of quality hospitality front -line employees and managerial professionals . The National Restaurant Association (1999 ) pointed out that the continued growth of the restaurant industry would challenge restaurateurs' recruitment and retention efforts . The Bureau of Labor Statistics also predicts that many job openings will be created for new lodging and restaurant managers as a result of the industry's high turnover rate (Bureau of Labor Statistics , 1998 ) . In addition , an exceptionally low national unemployment rate of 4 .5 % in 1998 is exacerbating the problem of finding qualified people . This shrinking labor pool is forcing hospitality employers to vie with other industries for qualified workers (National Restaurant Association , 1999 ) . |