Accommodation
Industry profile, February 2020
Sections: Description | Pricing | Costs | Demand | Appendix
This page is an industry profile for the Accommodation industry. It provides a general economic overview of recent developments in the industry. This includes information on industry pricing, costs, and demand. Below you will find a description of what type of business establishments are included in this industry. For information on how to best utilize this industry profile please visit our Business Solutions.
Industry Description
Industries in the Accommodation subsector provide lodging or short-term accommodations for travelers, vacationers, and others. There is a wide range of establishments in these industries. Some provide lodging only, while others provide meals, laundry services, and recreational facilities, as well as lodging. Lodging establishments are classified in this subsector even if the provision of complementary services generates more revenue. The types of complementary services provided vary from establishment to establishment.
This industry description was sourced from the North American Industry Classification System.
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- As of January 2020, prices in this industry had decreased 3.9 percent since the previous quarter.
- From January 2019 to January 2020 prices in this industry increased 1.6 percent.
- Prices increased 9.1 percent in the five year period starting in January 2015 and ending in January 2020.
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- As of January 2020, costs in this industry had 0 percent since the previous quarter.
- From January 2019 to January 2020 costs in this industry increased 0.3 percent.
- Costs increased 6.2 percent in the five year period starting in January 2015 and ending in January 2020.
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- The largest cost for this industry is purchases made to the Labor sector. This sector accounts for 44.9% of the industry's overall costs.
- From January 2019 to January 2020, the largest change in costs for this industry were costs associated with purchases to the Management of Companies and Enterprises sector. Costs associated with this sector decreased -2.1%.
| Sector Name | Percentage of Costs | Annual Percent Change 4 |
|---|---|---|
| Labor | 44.9% | +0.5% |
| Manufacturing | 11.1% | +0.1% |
| Management of Companies and Enterprises | 10.2% | -2.1% |
| Professional, Scientific, and Technical Services | 6.7% | -0.8% |
| Real Estate and Rental and Leasing | 5.7% | +1.5% |
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- As of July 2019, demand for this industry had increased 0.8 percent since the previous quarter.
- From July 2018 to January 2020 costs in this industry increased 6 percent.
- Costs increased 8.3 percent in the five year period starting in July 2014 and ending in July 2019.
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- The sector that contributes the most to this industry's demand is the Personal consumption sector. This sector accounts for 69.2% of the industry's overall demand.
- From January 2019 to January 2020, the largest change in demand for this industry was from the Real Estate and Rental and Leasing sector, where demand increased 8.3%.
| Sector Name | Percentage of Demand | Annual Percent Change 6 |
|---|---|---|
| Personal consumption | 69.2% | +5.9% |
| Professional, Scientific, and Technical Services | 5.4% | +7.8% |
| Finance and Insurance | 4.7% | +5.6% |
| Real Estate and Rental and Leasing | 4.4% | +8.3% |
| Administrative and Support and Waste Management and Remediation Services | 3.7% | +2.9% |
- Pricing measured from January 2020.
- The BLS PPI used for this industry is PCU721---721---.
- Costs measured from January 2020
- Demand measured from July 2019
