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. Foremost Problem Facing African-Americans: Property Ownership |
July 2003 - The NAACP Economic Reciprocity Initiative
(ERI) was launched in 1996 as a sustained consumer movement measuring corporate
America's commitment to the African-American citizenry and other people
of color. ERI targeted companies are surveyed for their activity in employment,
vendor development and contracting, advertising and marketing, equity investment
and ownership, and philanthropy.
NAACP Lodging Industry Report Card 2003 This is the sixth year of measuring the lodging industry. This report card focuses on the largest hotel chains in the industry, cross referenced with the hotels most often used by African American organizations and consumers for conventions and other gatherings. Twelve hotel chains were included in this review and the industry has scored an overall grade of C (2.44). When the NAACP began surveying hotels seven years ago, there were originally 16 chains identified for the initiative. Industry changes, including mergers and acquisitions, have resulted in 12 hotel chains being included in the Year 2003 report card. The hotel industry, commonly referred to as the lodging industry, is part of the much larger industry of travel and tourism. This industry is one of the leading global economic activities, a multi-billion dollar industry with 700 million international travelers per year around the world. Tourism is means for employment and income creation and, especially in poor countries, a method for development. African Americans spend over $5.5 billion annually in transportation, travel, and lodging. This year�s survey continues to reveal that one area in particular is
the foremost problem facing minorities in the lodging industry: property
ownership. Despite creative financial incentives by some corporations,
the ability of minority entrepreneurs to break into the historically closed-door
society of hotel ownership remains hampered and stagnant. Whether this
is a result of systemic barriers to financing and lending opportunities
by the banking industry or whether this results from a more reprehensible
purpose remains to be seen. However, what is indisputable is that the huge
revenues that are generated in this lucrative industry are still enjoyed
by only a select few. (2002
Report Card)
a Includes Marriott Hotels, Ritz-Carlton, Renaissance, Ramada
International, Courtyard, Residence Inn, TownPlace Suites, SpringHill Suites,
Fairfield Inn, Marriott Vacation Club Intl;
Consumer Alert This report provides consumers with the tools for empowerment, enabling them to make the most of the choices they have in the continuingly changeable market of the lodging world. While the NAACP intends to keep monitoring the lodging industry for progress and advancement, consumers are encouraged to utilize this guide in making informed choices about where to spend and invest their dollars. .
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NAACP 410-580-5777 |