International Hospitality Industry Analysis

The boundaries of personnel, information, technology, trade, and finance between different countries become increasingly insignificant, thus more and more industries are keen to participate in this fast expanding global market. Along with many service industries, the hospitality industry has also been a significant force in globalization over recent decades. This can be seen through the rapid growth of international hospitality companies, such as Hyatt, Hilton, Inter Continental and Accor. The international hospitality industry covers a range of free-standing hospitality businesses, and provides numerous venues, whose main function is not part of hospitality. As the size and complexity of hospitality venues increase, they also include commonplace

Apart from simple owner-operated properties other forms of operation include management contracts, franchising, voluntary chains, joint ventures, branded reservation services and combinations of them. In addition, subcontracting, outsourcing and off shoring alter significantly the traditional business models. Other than the change of business models, there are many accompanied changes with great significance for the industry’s operators as well, including easier and cheaper travel and as a consequence of improved lifestyles and medical services, increased life expectancy, leading to increased populations and demographic restructuring. As many hospitality businesses became larger, one of the biggest developments in business has been the emergence and development of global brands ranging from global brands with many thousands of outlets through to small local brands with few handfuls of

For labour-intensive hospitality industry, employees can earn extra income through tips. The payroll knowledge of HRM team helps employers deal with tips as required under the tax law. The main function of HR department is to motivate employees, which can be done through rewards especially for those who have done well. Therefore, HR department needs to assess employees’ performance and compensated those who have exceeded expectations. Employee morale affects turnover, customer service levels, and ultimately, the success of the organization. Quality of service is mainly dependent on the employee, thus the importance of staffs is obvious. If staff provided better service, customers will be more and more satisfied, but this can be achieved only when staff of an organization is satisfied. In addition, some studies show that human dimension contributes approximately 80% to the value of the organizations have made. This means that if people are not properly managed, companies will face a serious chance of