Hotel and Lodging Managers - Job and Earnings Outlook
In 2000, there were about 68,000 positions available for hotel, motel, and lodging managers. Of these, about half were held by owners and operators of small hotels and motels. While the number of new positions is expected to grow slowly this decade, opportunities for management positions are most likely to go to people with degrees in hotel management.
Job growth will be driven by an increasing number of business travelers, and a rise in tourism. Much of this growth will be in suite hotels, which attract high-paying business customers. Full service hotels, which offer full restaurant, bar, and convention facilities will also provide additional openings for hotel managers. The growth of budget hotels and inns, as well as extended-stay hotels, will dampen the growth of jobs for hotel managers, since these locations offer fewer services.
Salaries of hotel managers vary greatly, depending on the size of the hotel or motel that employs them, and their responsibilities. Median annual earnings of lodging managers were $37,660 in 2004. The middle 50 percent earned between $28,640 and $51,030. The lowest 10 percent earned less than $22.680, while the highest 10 percent earned more than $72,160, an increase of over $17,000 since the year 2000.
In addition to salary, hotel managers can receive performance based bonuses of up to 25 percent. Some hotels offer profit sharing and educational assistance plans to their employees. In addition to typical benefits packages, because of the nature of the business, managers can receive lodging, laundry, meals, and other services as part of their compensation.
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