Five Smart Reasons to Go After a Hotel Management Career
1. Good Earning Potential
Hotel managers make competitive salaries. In fact, in 2015, median pay in the U.S. for lodging managers was $49,720. And the top-earning professionals in that role made more than $94,330.* With financial management skills and experience, it's possible to make even more. For instance, hotel workers in the advanced position of general manager earn median salaries of almost $73,000, and many make over $164,140 per year.*
2. Opportunities for Advancement
Employment of hotel managers is estimated to increase by eight percent from 2014-to-2024.** And in addition to growth potential, a career in hotel management can lead to some very high positions. Many hotel managers work their way up into executive roles such as regional manager, director of sales, or even chief operating officer. Such opportunities often come from gaining business skills and moving into positions within larger and more prestigious hotels.
In 2014, the U.S. hotel and lodging industry generated more than $170 billion in sales from over 53,000 properties.*** Globally, the numbers are just as encouraging. Worldwide, the hotel industry is forecast to increase the revenue it generates by more than 20 percent over a five-year timespan—from $457 billion in 2011 to $550 billion in 2016.**** Simply put, this sector is consistently strong, and good managers are always needed as different hotels compete for very discerning guests.
4. The Chance to Make a Noticeable Impact
Being in hospitality management allows you to take charge and see results. When you have a leadership position within a hotel or restaurant, you get to play a key role in building and maintaining the reputation of that establishment. From the crew you hire to the standards you set, your work produces outcomes that are easy to recognize and feel proud about.
5. Opportunities to Work Where You Want
Skilled hotel managers can find work almost anywhere. Every city has a wide range of accommodations, from limited-service establishments to upscale hotels. With this career, you are never limited to just one area of the country—or even to just the U.S. In this industry, there is no limit to where you can go or how much you can achieve.
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* Bureau of Labor Statistics, U.S. Department of Labor, Occupational Employment Statistics, website last visited on April 7, 2016.
** Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016-17 Edition, website last visited on March 16, 2016.
*** American Hotel & Lodging Association, website last visited on May 20, 2016.
**** Statista, website last visited on May 20, 2016.