Factors Affecting Hospitality Industry

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Introduction. According to CTH Lecture notes (2014) the hospitality industry is one of the largest growing sector in the world and it will be discussed according to the history, characteristic and the importance of the industry as well as the features of the business along with the grading system, the internal and external factors, and the tourism industry is also a large growing sector which provides services such as accommodations, food, etc. The history, characteristics and the importance of the tourism industry will be discussed including the patterns of demands and tourism indicators, with the growth of emerging forms of tourism and the importance of transport, accommodation, attractions and events as well as the deference between tourism…show more content…
Internal factors are the factors which are inner strengths and weaknesses that a organization exhibits The best thing about internal factors is that you can control many of them. Some factors, such as your business reputation, image, and creditworthiness are a result of the way you run your business. Other factors, such as your organizations management structure and staffing and the physical décor of your business, are based on your business decisions, and you can change them as you see fit. By changing internal factors it usually involves some indirect cost, such as penalty for terminating a lease before it expires. (Lindblad 2007) External factors that affect the success of a hospitality industry. External factors are the factors that are influenced outside which can impact the business. Tight lending conditions, government regulations and competition are some of the external factors that affect virtually every small business; strategic planners anticipate and manage sources until lending restrictions ease, developing plans for compliance with regulations and enhancing innovation and service to stay ahead of the competition are forward-thinking ways to keep external factors from threatening the survival of the business. (lindblad…show more content…
Access which involves the method in which a traveler can reach the desired destinations. Attractions that are provided at a destination and plays a huge role in attracting the tourists. Accommodations provide an over-night stay. Activities- visitors tend to want to engage in different activities which can be passive or active. Amenities are extra services that include public toilets, visitor centers, etc. Ancillary which are known to be additional services like car hiring, catering services, etc. (CTH 2013) Importance of transport. Transport is a type of mode used to transport things from one place to another and according to (source loc.gov) It facilitates trade, exchange and travel, and without transportation, regions are largely isolated from each other. It provides an effective way to transport people and commodities from one place to another. It moves food, furniture, medicine, chemicals, clothing, shoes, hair waves, and other valuable necessities. Helps in creation of employment by hiring individual as drivers, conductors, pilots, cabin crew, etc. It also helps to improve productivity or increase economic development. (source loc.gov) Importance of
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