Outlook for Restaurant and Hospitality Jobs
See what the future holds for restaurant and hospitality jobs.
If you're looking for hospitality jobs, here's some good news. Employment in the industry has been consistently growing, and it's projected to continue for several more years. However, if you want management positions in hospitality companies like restaurants, hotels, casinos and spas, be prepared to face more competition than they would for non-management jobs.
But you'll have the upper hand if you get the right restaurant management training.
With the National Restaurant Association (NRA) projecting industry sales around $683 billion in 2014, the restaurant industry is obviously doing something right. According to the NRA, a million dollars in restaurant sales creates 34 new jobs. They predict that around 1.3 million new restaurant jobs will be opening by 2020. National long-term projections of employment growth may not reflect local and/or short-term economic or job conditions, and do not guarantee actual job growth.
What does this all mean for aspiring restaurant managers? While there is opportunity in the restaurant industry, the hospitality jobs at the top of the food chain are fewer and more competitive. Expect to find the largest number of restaurant management job opportunities in chain restaurants and fewer opportunities in independently owned and operated establishments.
Hotel and lodging businesses make up another healthy sector of the hospitality job market. The most recent data from the American Hotel and Lodging Association shows that the industry brought in roughly $155.5 billion in 2012, with an average occupancy rate of 61.4 percent.*
Many factors affect employment opportunities for aspiring hotel managers. More jobs are available in urban areas or popular tourist destinations. There may also be more opportunities for both employment and advancement in large hotel chains. Full-service hotels will also employ more people than limited-service establishments. Growth in both hotel chains and luxury hotels will result in increased employment options for hotel managers.
*Based on lodging establishments with 15 or more rooms.
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Hospitality Career Center
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