ASSESSMENT B
Section 1 :
Discuss the significance of the hospitality industry to the regional, national and global economies
Describe with clear reference to a range of sources, how the hospitality industry may be classified into different sub sectors
Section 2 :
INTRODUCTION:
According to Saskia and Réau (2009) the origin of the tourism appeared between the middle of the XVII the end of the XIX century, where wealthy British were travelling in European countries from the northern countries until the Greek island and return to their countries lining the Mediterrannee.
The globalization is defined by trading in the all world in every sector models such as; cultural, economic and political. Those models were developed by Northen countries since 1980 where international exchanges of people started. All countries of the world are now interdependent. 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.
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Moreover, the hospitality industry is not concerned by only one sector of activity of a business but is concerned by, nearly, all the businesses which are focused on customer expectations and answering the need of the customer. Whereas, this industry has a huge target audience thanks to the wideness the hospitality industry. However, it could be suffering of a lower purchasing power of customer. That means that kind of hospitality is including costly hotels, so, most of the time the customers have to spare money to access to this universe. And, if the purchase power slump the middle-class customers could not spend their money in this industry only wealthiest could do …show more content…
This industry trust entirely on customer happiness.
Different businesses
“Simple hotels” represent just one sector of the hospitality industry however, hospitality cater several types of transportations like cruise ship, trains even airlines. For instance, airlines provide meal during the in-flight so, the questions you will ask in hospitality business are “how important are meals on board? Are they always necessary? Are they? here to occupy the passenger? How important do customers think in-flight food is? What constitute a good in-flight meal? Are the costs really included? What are the differences between budget and luxury airlines? E.g. Why do Ryanair charge but Emirates include?
All these considerations are based on the customer expectations related to confort/ price or price/comfort (depending of the customer wealthyness).It is the formal part the tangible one which is really important nevertheless, all hospitality businesses have to work on the informal and intangible side that is making the different between similar businesses. Southwest Airlines has understood that concept, thanks to David Holmes in practice. Enjoy watching
• I chose to compare fast food restaurants because I don’t use a lot of different things or services so it would be hard for me to review one thing and it would also be hard for me to meet the word count on just one item. I chose quality of service as one of my criteria because it’s important to note things like your food coming out fast and the restraint not giving you the
How far was it transported, and what did transportation add to the cost? How much did manufacturing or packaging or advertising add to the cost? When the food product has been manufactured or ‘processed’ or ‘precooked,’ how has that affected its quality or price or nutritional value? (Berry) By repeating these questions and statements throughout the article, Berry really makes readers think about things they do not know about their food.
Quality vacationers: These customers treat the travel as a part of their holiday experience and therefore they fly with carriers that provide extremely superior services. Frugal flyers: These types of customers tend to seek out the lowest-cost carriers for economic reasons, but still expect their flight experience to be a good
Globalization is the inclusion of the differents values socio-cultural and economic local from one country to another, through their relationships exchanged a series of products and knowledge that extend and increase their ideological and economic situation. Globalization is beneficial for businesses of Colombians. As well as has influenced in areas as the social, economic, cultural, political, technological and educational in our country, globalization has ventured into the business of Colombians to favor or disfavor wholesale sales. Globalization has been a transition process started from the time of conquest and colonization, this exchange of cultural contracted a new market with mobility and trade of products and goods which over time did not stop there, but rather it was intensified and point greater flowed recognition from the
Travelers who go places to visit family, or any other reason, gets hungry and would like to see a familar fast food restaurant they can go to everytime they travel. As Visser said “When a huge modern business conglomerate offers fast food to travelers on the highway, it knows that its customers are likely to desire No Surprises. They are hungry, tired, and not in a celebratory mood; they are happy to pay—provided that the price looks easily manageable—for the safely predictable, the convenient, the fast and ordinary”(129). The restaurant that is known for travelers to stop at when tired and hungry is McDonalds. You can find a McDonalds about anywhere you go in the world and its always fast service most of the time.
1 What is Outrigger Hotels and Resorts’ strategic position? What are the firm’s Critical Success Factors (CSF)? Outrigger Hotels and Resorts are currently using geographical and product diversification strategy. The firm expend their firm around Pacific Ocean and diversify its product portfolio by adding condominiums resorts and OHANA hotels.
The Five Competitive Forces of Industry will influence prices, costs and investment (Porter, 1980). The potential retaining of customers, profitability of a holiday inn can be determined by being aware of the strengths and weaknesses of the hotel industry. (Figure 2.2: Porter’s Five Forces Model (Source: Adapted after Porter,2008) Porter’s 5 model helps in success of Holiday inn between suppliers and buyers. Giving customers the service they are looking for, acquire customers, retain customers and looking externally how the competitors are doing is very important. To ignore the power of customer relationship is not an option.
In the case of hotels, suppliers create different consumer segments, we can relate to them as lower-end consumers, and higher-end consumers. Obviously, hotels cannot set the price that higher-end consumers are willing to pay, because all lower-end consumers will not be able to afford the good. Inversely, if hotels set the price that lower-end consumers are willing to pay, higher-end consumers gain huge consumer surplus, thus lowering the profit for the suppliers. In order to take the consumer surplus, hotels keep lower prices for some rooms in order to target lower-end consumers and offer some higher quality rooms (for example presidential suits) to target higher-end consumers. The difference in revenues providing different rooms and the same ones is seen below.
GLOBALIZATION, TECHNOLOGY AND LAW Globalization and Technology Globalization has completely transformed the way in which the world and its people interact. Earlier there were several roadblocks in the ability to communicate and interact with the people worldwide. But now, the world is becoming more and more globalized in all spheres: Business, financial, social, economical, etc. Over the years, a lot of technological advancements have come into picture including the changes in the field of Information Technology, having a significant impact on the global landscape.
and we are going to consider both in this essay. While both eating out and eating at home are similar in they provide people a meal to eat, they can greatly differ in cost, convenience, and nutrition. First, cost is a large factor in the decision to eating out versus eating at home especially if someone has a large family. When going to a restaurant, meals are purchased per person versus eating at home is one overall cost for ingredients to prepare a meal.
Every industry to include the hospitality industry is impacted by external factors which directly influence organizational behavior and decision making. There are numerous factors to be considered, but political, economic, and social are three of the most influential. These outside factors sway managerial operational decisions daily regarding personnel, spending, policy, and short-term and long-term strategic planning concerning both core and exterior operations. As within every industry, the hospitality industry has unmanageable elements that affect management or ownership of hospitality establishments (Lewis 2017). Understanding these factors is important because it provides an opportunity for contingency planning (Lewis, 2017).
> Bargaining Power of Buyers & Consumers ' Opinions of the Airline: The common targets of Philippine Airlines are foreign and Filipino tourists alike, expatriates and other businessmen, Overseas Filipino Workers (OWFs), students, families and tour groups. Despite the various airline preferences of passengers, there has been customer satisfaction among PAL 's passengers over the past couple of months. There is
The exceptionally notoriety of the word 'globalization’ signals a require for caution. The word was barely utilized some time recently the late 1980s, indeed in scholarly circles, but nowadays you can barely open a daily paper without experiencing the term. It might effortlessly show up to is an elegant name utilized to assign wonders around which one has as it were the vaguest thoughts. However to dispose of the concept of globalization, and the huge consideration agreed the marvels it envelops, on such grounds, would be silly. There is a genuine require for a common, non-specific term to portray the complex, multi sided ways in which the world is inter-connected, and progressively so.
Market segmentation has been the positioning strategy for Intercontinental Hotels, and it is important that it is done well to consider critical features of each segment adequately. Moreover, market differentiation must promote the difference between the different brands so as to create awareness to each target consumer of the most appropriate brand. For instance, the strategy must inform the market of the difference between the Holiday Inn brand and the Holiday Inn Express brand. This differentiation is important since it will encourage business travelers to opt for Holiday Inn Express while those looking for recreation chose Holiday Inn. Consequently, each consumer will get the best service that is suited to their needs and hence create customer satisfaction in the varying
The hospitality industry is composed of company which focus on customer satisfaction namely, restaurants, retail or accommodation. One particular sector of the hospitality industry is the hotel sector. A hotel is an establishment that provides meals, accommodation and a myriad of services to tourists and travellers such as excursions, spa therapy, business and wedding events. The hotel sector relies wholly on customer satisfaction, disposable income and leisure time. Many other businesses in the hospitality industry are linked with hotels such as, airlines, cruise ships and restaurants.