[Excerpt] The characteristics of the hospitality industry are extremely dynamic and differ from other industries. In the United States and many other parts of the world, the predominant industry is transitioning from manufacturing to service. The hospitality industry is growing—the U.S. Bureau of Labor Statistics expects the hospitality industry to add 17% in wage and salary employment, compared to the 14% for all other industries combined. The nature of the hospitality industry makes it very labor intensive. Additionally, the hospitality industry has extremely high employee turnover rates. While the annual turnover rate for all industry sectors was 39.6% the leisure and hospitality sectors averaged 74.6%
