The report warns that air travel will become too costly for many Americans, which will in turn cut down on travel. The report claims that without significant development of the nation's infrastructure, the only way to reduce air traffic congestion will be through significant rate hikes for airline tickets. The tourism industry and hotel sector will most certainly feel the pinch. Retail and entertainment geared toward tourists will suffer then as well.

Darryl Jenkins, director of the Aviation Institute, and Ed Perkins, retired editor of Consumer Reports Travel Letter, co-authored the report. A spokesperson for the Institute notes the report, "poses some stark options for both Washington policy makers and consumers on the eve of the peak summer travel season. The report calls for a new level of cooperation between government, industry, labor, environmental and consumer representatives. The only hope for reducing delays in the short run is a sustained economic recession."

While the warnings look bleak for the hotel industry and other that benefit from the travel industry, the recommendations are welcome news for contractors that specialize in such projects. Airport reconstruction is an expensive process, bringing in revenue for developers, construction managers and consultants. It also creates jobs for labor.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.