Task 1 Describe the size, scope, growth and economic importance of the hospitality industry LO 1.1- Describe the history of the hospitality industry, characteristics and importance of the hospitality industry. The hospitality industry has developed continuously over the decades .The history of the hospitality and tourism industries are strongly linked, starting back when people started to travel for business, traced back to as early as 3000BC in Egypt. Knowles (1996:2) describes the hospitality industry as ‘any combination of the three core services of food, drink and accommodation … a blend of ‘tangible and intangible elements’ - and the service, atmosphere and image that surrounds them.’ (CTH 2010) People turned to travel for sports such …show more content…
People like to know they are visiting a safe place. Certainly, any political problems like upset, uprising , war or terrorism in an area can affect the amount of tourists coming, and this will affect the hospitality businesses, like in the Middle East countries or Kenya (Fair. C, 2014). This will affect all hospitality businesses badly with loss of income. Moreover, visa policies can also affect the hospitality industry, for example, the US government has relaxed visa rules for Chinese boost the growth in the industry. (HT Library, 2014) Economic reasons The rise in millennial tourists mean that people have more disposable income and better economic status. This means they can also afford more for hotels or eating out (Rouse, 2013). Despite 7 years have passed since the global economic crisis of 2008, global economy is faced different challenges. Because of this, the reduction of disposal income disadvantages both tourism and hospitality industry Social-culture Socially, changing trends of new generation has effect on hospitality industry. Generation Y tourists who are more educated and have more disposable income are willing to pay more for special experience.
The word “hotel” comes from the French language, which originally meant the villa built by the rich people to entertain important guests in the countryside. For the last 200 years, the definition of hotel has been evolving into something much more than a simple building: a world-class hotel is a comprehensive entertainment system that offers conformable and convenient guest rooms, various restaurants serving representative local foods, business conference rooms equipped with high-end communication devices, recreation centers specially designed for tourists, and other daily life & entertainment facilities, such as swimming pools, gyms, post office, banks, gift shops, beauty salons, and
The hospitality industry in the United States is large, complex and intensely competitive. Within this industry is a segment comprised of hotels and motels, which will be the relevant sector for this marketing plan. To note, the hotel and motel industry in the United States had an estimated value of $137.5 billion as of the end of 2012 (MarketLine, 2012). The industry is forecasted to experience a compound annual growth rate (CAGR) of 5.5% from 2011 to 2016, to attain a value of $179.5 billion (MarketLine, 2012). In this industry, the most lucrative segment is leisure which has a market share of 71.1% (MarketLine, 2012). Sunshine Inn (fictional) is a small independent hotel that operates within the leisure segment of the hotel and motel industry in the United States. It is an adventure-themed hotel situated along the California-Nevada border in order to capture the tourist market for Lake Tahoe. Sunshine Inn has 30 bedrooms and 15 suites and offers specialty home-cooked type meals to guests for breakfast, lunch and dinner. It must be emphasized that the hotel and motel industry is one of the most fiercely competitive in the United States, and in fact, in the world (Johanson & Cho, 2009; Kosarkoska, 2010). Therefore, in order to compete with large hotel chains with five-star hotel rankings, Sunshine Inn will have to depend on strategic approaches, such as effectively targeting and positioning itself in the appropriate market, as well as developing a marketing plan that will promote the unique value propositions that only small, personalized hotels can provide: excellent customer service, customized adventure packages as well as a total customer experience that revolves around enjoyment, fun and discovery. As this marketing plan wi...
As the marketing consultant for a hospitality management company, it is often my responsibility to define target markets for various restaurants and hotels. In fact, I have been tasked with creating a fictional hospitality operation, to utilize as an illustration to define a marketing strategy and target market. In addition, I must identify and analyze the product life cycle of an organization that has been in business for a minimum of twenty-five years.
The political factors reflect the government intervention into the economy. With country’s steady political environment, high predictability of government policy and low political risk (The PRS Group, 2014)1,5, UK is offering good opportunity for any business. In medium term, the government policy for tourism and covered by Government Tourism Policy (2011)3 is intended to enhance the sector.
The Hospitality and Tourism sector is characterized as the fastest growing sector in Jamaica. Many tourists from all over the world travel each year because of the country’s beaches, culture, climate and landscape. Despite the contribution of other sectors the Hospitality and Tourism is still the giant industry that contributes largely to Jamaica market share. In this paper, we will call the Hotel that I am employed ‘Hotel A’ for privacy reasons. Hotel A was formed in 1981and has developed to be one of the largest all-inclusive resorts in the country, tackling all factors that impact on its overall success. Some of these factors are political, economic, social, technological environmental and legal factors called the PESTEL framework. “A
The overall industry saw a strong boom rate from 2010-2014. The global hotels & motels industry had total revenues of $677.1bn in 2014, representing a compound annual growth rate (CAGR) of 4.6% between 2010 and 2014. In comparison, the Asia-Pacific and US industries grew with CAGRs of 6.6% and 5% respectively, over the same period, to reach respective values of $163.7bn and $166.2bn in 2014(Global Hotels & Motels 7). The reason for this growth is due to the Asia-Pacific Region and Americas. The US alone with its world’s largest hotels/market has conquered net value growth, while China has literally doubled the revenue in the same time span. The leisure segment
Helped With unique efforts by government and all other stakeholders, including hotel owners, resort managers, tour and travel operators and employees who work in the sector, Indian hospitality industry has gained a level of acceptance world over. It has yet to go miles for recognition as a world leader of hospitality.
The hotel industry is by far one of the biggest business industries known to man in this era. The businesses of this industry are affected by many factors. The businesses environmental factors in external factors are demographic, economic, global, political, sociocultural and technological.
degrees in hospitality management think of themselves as professionals entering the profession of hospitality management. Professions require specialized knowledge and skills, continuing education within the profession, and must be good for the community and society. While professionals may receive large salaries, for an endeavor to be a “profession” it must have goals beyond high pay and be concerned with the long-term good of the company and also the community the company does business in (Jaszay & Dunk, 2006).
The reason I chose the Hotel Management industry is because it is a career path that I have always been interested in and curious about. It is a fast growing widespread global industry. I’ve always wanted an exciting career, which would integrate my business and creative skills in a way, which would be more energetic, active and fun than most orthodox and boring office desk jobs. I also desired to work in an industry, which I was fervent about. For my first year Applied study period I had the opportunity to work at The Taj hotels, resorts and palaces, India and my experience there established many of my principles of how the hotel industry operated. Despite my refining on the job experience, that allowed me to explore the various departments and requirements of the everyday job, I had never elaborately researched the prospects of working and skills and requirements required in the Hotel Management industry; and this Is exactly what I aim to accomplish with this report.
“Hospitality is a broad term for an industry that encompasses many types of employers and hundreds of job titles” (Aushn,23). Hospitality is another word for the business of hotels, motels, and resorts. It is estimated that one in eighteen employees in the united state works at some type of job in the hospitality industry. Travelers in the United State spent 527 billion dollars in 2001, and that amount has increased each year since. (Ashen 23).
Tourism plays a big part of the economy for many countries in the world. Tourism is also said to be the world’s largest service sector industry . According to a research by the World Travel and Tourism Council (WTTC), the travel and tourism industry was twice the size of the automotive manufacturing industry in terms of the world’s combined gross domestic product (GDP) in 2011. In terms of employment, the travel and tourism industry is only second to education, employing around 98 million in 2011. This would only mean that tourism is a major contributor to global economic development, helps in creating jobs and also generates wealth. It is no wonder that countries around the world are building up tourism infrastructures to provide greater convenience to tourists and putting in more effort to attract tourists to their country. There are however many factors affecting tourism and this essay will be discussing how political stability affects tourist numbers in three countries around the world. The three countries that will be discussed are Greece, France, and Thailand.
The hotel industry is a small section of the hospitality industry. Therefore the emphasis is on communication skills, hands-on work and customer needs. This is inculcated via the coursework which teach students in current practices of front office operation, housekeeping, food and beverage administration, accounting, sales and marketing.
In the more economically developed countries (MEDCs), synonymous mainly with the industrialised countries of the northern hemisphere there, has been an explosion in the growth of leisure and tourism industry, which is now believed to be the worlds second largest industry in terms of money generated. In order to differentiate between leisure and tourism it should be recognised that leisure often involves activities enjoyed during an individual’s free time, whereas tourism commonly refers to organised touring undertaken on a commercial basis. Development in the two areas could be attributed to changing patterns in working lives within the last four decades. Generally, people now have more disposable wealth, work shorter hours, receive longer, paid annual leave, retire earlier and have greater personal mobility. In addition, according to Marshall & Wood (1995), the growth of the tourist industry per se can be associated, in part, with the concentration of capital; the emergence of diversified leisure based companies, sometimes within wider corporate conglomerates and often associated with particular airlines. Furthermore, the development of tourism can generate employment both directly, in jobs created in the hotels, restaurants etc, and indirectly, through expenditure on goods and services in the local area. Nevertheless, although the tourist industry is competitive, which essentially keeps down the cost of foreign travel, the success of tourism in any one area can be ‘influenced by weather, changing consumer tastes, demographics, economic cycles, government policy, not to mention international terrorism and other forms of conflict.’(1) Although such factors may have a detrimental affect on the economy of a popular tourist destination (or even tourism in general, in light of September 11th 2001), the consequence of tourism in general is often three fold: environmental, social and cultural, which in turn has prompted a search for new ‘friendly’ approaches that are less destructive.
“My learning experience, things I can achieve, the decisions I make, the people I meet and befriend and the mistakes I make tells me who I am now and who I will become.” As a child, this was a belief that my parents taught me and, so I grew up with it and became very devoted to follow it. My parents always said to me “Learn all you can.” They also taught me that the decisions I make will help me to build my own destination, and the way I treat others will say the person I am. Until this day, I continue to believe, apply and follow that belief. Today, Hospitality Management is my number one career choice I have chosen to work for the rest of my life. In many different ways, Hospitality Management reflects my third, fourth and fifth of