1) INTRODUCTION:
The aim of this report is to evaluate the major financial implications of a catastrophe with regards to a particular hospitality sector. This report is divided into four main parts namely, the background information of the catastrophe followed by the definition of the chosen affected hospitality sector along with its importance. This is followed by statistics in the form of year-by-year figures regarding the implications of the catastrophe along with the recovery strategies followed by the chosen sector as well as associated sectors and a final evaluation of the implications is made by the authors of this report.
2) BACKGROUND INFORMATION ABOUT THE CATASTROPHE:
The September 11th 2001 attacks which are commonly known, as the 9/11 attacks were a series of suicide terrorist attacks on the United States of America primarily targeting civilians. That morning, 19 men associated with the Al-Qaeda terrorist group hijacked four commercial airlines and each team consisted a well-trained pilot. Two of these planes were directed towards the Twin Towers of the World Trade Center in New York, the pilot of the third plane crashed the plane into the Pentagon in Virginia and the fourth team crashed the plane into a field near the town of Shanksville in Pennsylvania. Due to these attacks 2973 people died whereas 24 still remain missing until today.
The details regarding the four airplanes that crashed are listed below:
1. American Airlines Flight 11: Crashed into the North side of the North Tower at 8:46:30 am local time.
2. United Airlines Flight 75: Crashed into the South Tower at 9:02:59 am local time.
3. American Airlines Flight 57 ...