ABSTRACT. The US lodging industry, $160 billion dollar industry, has weathered economic downturns and shifts in consumer preferences. This analysis examines the lodging industry through the lens of Porter’s five forces and by identifying the key internal and external driving factors specific to the industry. Dependent on business and leisure travel driven by a strong economy, the outlook for the lodging industry is positive despite a growing number substitute options for travelers. pp. 60–81

Keywords: industry analysis; five forces model; U.S. lodging industry