Pearson New International Edition International pcl tp indd 1

companies.
FRONT OFFICE SEMANTICS
Transnational company:
Organization with its headquarters in one country but with company operations
in several other countries.
Some governments decentralize the operation of tourism-related sites by
contracting with private companies to manage the sites’ resort and tourism
components. Governments also help fund tourism development to boost their
OVERVIEW OF THE LODGING INDUSTRY
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own local economies. The number of countries hosting resort development or
operations companies has increased, while the number of companies that com-
pete on a worldwide scale has dwindled.
•
Developing creative time-share marketing and exchange programs. Time-share
purchasers are popular with relatively young (45-to 55-year old) buyers. Some
observers, however, are concerned about whether the industry can develop pro-
grams to address potential drawbacks to time-share purchases such as rela-
tively high initial purchase costs, overly aggressive sales techniques, and poor
resale values during downturns in the economy.
Since the September 11, 2001, terrorist attacks, the time-share industry
has learned it is relatively recession-proof. While hotel occupancies dwin-
dled to virtually nothing, and airlines canceled many flights, people who
owned time-shares continued to use them for vacations. After the terrorist
attacks and the recession that followed, some time-share owners exchanged
their access to properties far from home to properties within driving distance
of their homes.