I actually like when movies do this. It gives the watcher a chance to get more absorbed into a story with it's lore.
Could The Hobbit trilogy be placed in one film? Yes, but parts would be skipped or not covered in detail
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Well the reason that the Hobbit is being made a trilogy is also because they're introducing other things from the books that were going on at the same time or are part of the backstory, such as Azog the Pale Orc, or what Gandalf was getting up to when he left Bilbo and the Dwarves, stuff like that. I think it's pretty reasonable to spread it out over several movies because it's not [i]just[/i] the story from the Hobbit but background information for it and other consecutive events as well.