US hotel bookings have taken a dramatic tumble since terrorists attacked the World Trade Centre in New York last month. The US chamber of commerce fears this slump could result in the loss of up to one million jobs in the hospitality industry within the next few weeks. The chamber's president, Thomas Donohue said that the industry was the short-term stress point in the economy and that related industries like caterers were also beginning to suffer. Profit warnings last week from some of the world's largest hotel chains were followed by an announcement from Marriott, the US's biggest hotel company, of an 8 per cent drop in third-quarter earnings from a year ago to $101 million. In an already disappointing year for the hotel industry, Marriott said revenue per available room had fallen by 49 per cent in the second half of September. Since the attacks occurred, lodging demand declined to unprecedented levels across the US, commented Bill Marriott, chairman and chief executive. Clearly, the business impact of the terrorist attacks has been far reaching. It is too early to predict when travel will return to normal levels, although business has improved since the first week following the tragedy.
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