Hospitality Essay Example | Topics and Well Written Essays - 500 words

Hospitality - Essay Example Although some hotel rooms may offer two or double rooms, timeshares offer queen or king beds set up in private rooms. Hotels only offer television sets in rooms while for timeshares, television is found in bedroom and living areas. Other amenities offered by timeshares but not offered by hotels include Jacuzzi tub in bathroom, fully equipped kitchen and washer suites. Customers may consider investment initial investment involved in buying a timeshare. Although this could be high, with time, they become cheaper. Six types of timeshares are available for buyers in the market in relation to their tastes, affordability, time and period of ownership, capacity, luxury, and availability. During their early days of invention, most developers provided a fixed one-week unit annually meaning the buyer could only occupy the unit once a week every year. However, many developments and modifications have come into place and flexibility in the product has been rising with increased demand and customer tastes. Until recently, developers did not spend enough time and money in making the structures. It is worth noting, â€Å"Most early timeshare resorts were conversions of old hotels, motels, rental-apartment complexes, or unsold condominiums† (Schreier 3). She further stresses that conversion typically undergo extensive renovation, and they may involve adaptive reuse of historic structures. Today, more time and resources are spent on constructing structures for timesharing purposes. Deeded timeshares gives the customer freedom of owning and using the property until the time of passing to the next party. This means that a title deed is issued to the owner to prove ownership of the property which could also be handed down to an heir if the owner so wishes. Life property timeshares allows the buyer to use the property every year for the rest of his life from the date of ownership. The disadvantage is that their benefits end at the time of death of the owner,

Macroeconomics Essay Example | Topics and Well Written Essays - 1000 words - 2

Macroeconomics - Essay Example Both are equally bad for the national economy. Current GDP, Inflation and Unemployment Rate The US GDP in year 2012 is estimated at 15.68 trillion. Real GDP in the US increased by 3.6 percent annually in the third quarter of 2013 over second quarter and the inflation rate is estimated at 1 percent in the month of October, 2013 that is lowest since October 2009. Similarly, unemployment rate is estimated at 7 percent in November 2013 down from 7.3 registered in the previous month (US Inflation Rate). Unemployment Rate in Past 10 years The following graph taken from the Bureau of Labor Statistics provides unemployment rates for last 10 years period in the US (Source: http://data.bls.gov/timeseries/LNS14000000). It is interesting to note that during boom period of economy between 2003 and 2007, unemployment rate continued to slide. Post financial crisis it began rising rapidly and went up to almost 10% during 2009 and 2010. As of now it is hovering around 7 percent. Inflation Scenario in Past 10 years The US Federal Reserve states, "Inflation is a general increase in the overall price levels of the goods and services in the economy" (Federal Reserve). The Fed takes into account several price indexes while calculating inflation. The monetary policy is governed by the Federal Reserve and it aims at achieving maximum employment, low inflation and moderate long-term interest rates. The following graph shows inflation rates for last 10 years in the US. Source: http://www.tradingeconomics.com/united-states/inflation-cpi It is amply clear that inflation rates vary significantly in last 10 years. During financial crisis, it touched to as low as -2 % in 2009 and prior to that it was at its peak at 6 percent in 2008. For last several quarters, the inflation rates are hovering between 1% and 2%. The Federal Reserve employs tools of monetary policy to control inflation and bring down unemployment rates as its major objectives. Monetary Policy Influences Inflation and Unemploym ent Usually, the Federal Reserve influences the federal funds rate that banks charge each other for short-term loans. These changes in short-term rates are eventually passed on to the businesses and households for their borrowing needs. Short-term rates also influence long-term rates such as residential mortgage rates, car loans etc. When the federal fund rate is reduced it triggers demand for goods and services. More demand for goods and services tend to generate more employment reducing unemployment rate that exist. Higher demand of the goods and services will also push the wage increase. Post 2007 financial crisis, the Federal Reserve took drastic steps to stabilize financial system and thereby the US economy. In this process, short-term interest rates were brought to near zero. Low interest rates aim at supporting businesses and households to finance new spending and thereby boost the economy and reduce the unemployment rate. However, in this process, there is possibility that i nflation rate would also start going up. As far as inflation rate is within the targeted rate, the Fed rate will keep using the tool of lowering the interest rate to boost the economy and generate the employment. The moment inflation starts exceeding the target rate, the fund rate will move in the reverse direction to cool down the economy and thereby control the inflation rate (Monetary Policy). Post 2007 financial crisis, when the economy was shattered the Fed resorted to the