It should also mean profitably providing value at any price level, while demon starting your own unique points of distinction. Hospitality, travel, and tourism are the fastest-growing industry in the world, governed by powerful corporate and political influences. Many companies are using technology to improve productivity and reduce labor costs. Moreover, this customer segment is interested in utilizing technology to do things that many others have become accustomed to doing manually: checking in at hotels, paying their restaurant and bar bills and looking up places to eat, shop and play to name a few. Potential Trends and Developments in Hospitality Industry The hospitality industry is part of a huge group of companies known as travel and tourism industry, which provides the necessary or desirable goods and services to travelers.
Cultural diversity means that the differences between people in gender, traditions, language, etc. Nowadays, workforce in hospitality becomes diverse because employees come from many countries. For instance, an organization can include employees come from America, France or Vietnam… Then creates a challenging issue for managers is how to manage well a diverse workforce. There are many researches were conducted in order to help managers to find out solutions for managing cultural diversity in workforce in hospitality industry successfully. Current situation of Cultural Diversity in the workplace in Hospitality Industry Because of globalization, organizations in hospitality field not only compete with domestic market but also foreign market.
“Tourism is now the largest industry in the world by virtually an economic measure, including gross output, value added, employment, capital investment and tax contributions.”(Wheatcroft,1994).Tourists can be defined as people who travel to and stay in places outside their usual surroundings for more than twenty-four hours and not more than one consecutive year for leisure, business and other purposes by the World Tourism Organization. Tourism industry is the idea of attracting, accommodating, and pleasing groups or individual travelling for pleasure or business. For example hotels, restaurants, and tour guides. Five sectors in tourism industry, which is including accommodation, food & beverage services, recreation & entertainment, transportation and travel services. The relationship between Hospitality and Tourism, Tourism and hospitality help each other, the hospitality industry offer services like accommodation, transportation, food and beverage, recreation and leisure.
In fact, the hospitality sector is always affected by various economic tendencies, both negative and positive. The strategic plan will outline the major actions required for conducting the business. The strategic capabilities can be identified by means of VRIO criteria, where V stands for value, R for rarity, I for imitation opportunities, and O for the company’s competitive advantage (Evans, 2015). Resources and Capabilities VRIO Framework V R I O Competitive Implication Strong corporate culture + + + + Sustainable competitive advantage Strong investment in R&D + + + + Temporary competitive advantage Outstanding customer service + + + + Sustainable competitive advantage Highly qualified employees + + + + Sustainable competitive
Overview Hospitality means kindness to everyone, and make an environment of home away from home. It is the pure relation between the guest and host. The field work include the management of hotels, restaurants & other tourist attractions comprising of the hospitality industry facets of hospitality management includes – TOURISM MANAGEMENT, HOTEL MANAGEMENT, EVENT MANAGEMENT, RESORT MANAGEMENT, etc.. Introduction Evolved to be the fastest growing sector, today. It is a multi-billion dollar enterprise. Provide a huge network of business also increases employability.
convention attendees, revenue is also generated by conventioneers utilizing other hotel services like restaurants and drugstores. Additional revenue for the various hotel services is also created by spouses that often accompanying convention delegates (Weber, 2001). Also, Hu (1994) proved that meeting guests tend to spend more on food and beverages and meeting space rental than do other guests. Finally, conventions and meetings are excellent prospects for repeat business (Weber, 2001). The repeated use of a hotel chain for an event can depend on the satisfaction of convention attendees.
• Technologic advances such as 4G have catapulted this market. 5. Conclusion To conclude, Just Eat is not a new a FEM. Since almost 10 years ago is working and growing within the UK takeaway food market. All the data here exposed suggests a nice future for the firm, consolidating itself as the number one takeaway food service in the UK with still plenty of room to
Thanks to this improvement, its benefit for a wide range of different sectors like the hospitality Industry that means that people can travel all around the world. This phenomenon allows to this 850 millions of tourists to travel each year around the world and international migrations is concerned by 5 millions people.
The development of the world’s largest airline terminal was an impeccable example. The Sheikh’s forceful strategies targeted at turning Dubai into a global business hub were almost yielding fruits by 1970s, as Dubai’s population has grown rapidly to make the city one of the most populous business hubs in the world. The city’s population grew rapidly from the 1960s to 1980s, thanks to Sheikh’s good economic development strategies that expanded the city. Applegate and Norris (2016) assert that by 2014 the city had over 2 million residents. A good population is favourable for the success of businesses, especially the type of businesses that depend on local customers.
Food has become a major part of this industry. Not only did restaurants get popularize but catering services were also introduced. These services are used in weddings, airlines and cruise lines and so on. Event planning is also a category of this industry, where events like weddings, birthdays and all are planned. People still have a thought that hospitality industry is limited to hotels and food only.