Hospitality Industry- All About It!

Hospitality Industry is exciting, always innovative, never boring and offers unlimited opportunities. It is one of the first businesses in history. Individuals have always gone out for work or leisure purpose – to enjoy with family/friends. Currently, this is a $61 billion business. Hospitality sector is flourishing at an exceptional pace. The business basically consists of three capacities: management, kitchen and workers. All the three capacities when managed properly contribute in managing hospitality in an effectual way. This sector can also be divided into two parts: entertainment areas like clubs and bars, and lodging or accommodation.

Lodging takes the style of resorts, campgrounds, hotels, motels, hostels, paying guest accommodation etc. The clubs and bars category comprise restaurants, fast foods, and nightclubs. The industry also take in tourism support arrangement. This includes commercial undertakings like airline cabin staff and travel representatives.

Managing and selling services to individuals without negotiating on quality is a challenging issue. Bearing in mind the challenging issue of technology and globalization, it has become imperative for the Hospitality Industry to handle operations, marketing and human resources in an effective way. Hospitality Industry is accountable for employing individuals worldwide through Tourism. Tourism is one of the key segments that provide revenue to a state.

To preserve long term and loyal relationships with the clients is the main aim of every business. Most of the countries face a huge challenge of being ‘under roomed’ while the economy is emerging swiftly. This throws up a great opportunity for Hospitality Industry. A very efficient way hotels are employing to enhance revenue is providing services that increase customer loyalty. When given prominence and implemented diligently, it extemporises service which in turn leads to increased up-sell and cross-sell rates. Nowadays Tourism business is well connected across the globe. Custom or tailor made packages and schemes are being offered to clientele globally for almost all the destinations across the world. With the advancement in technology, the business prospect has increased and the competition has also become fierce.

Complete bundle/package is the popular proposition among travellers these days. It ranges from worldwide hotel reservations, package tours, airport transfers, sight-seeing trips, freebies for children among others are being provided. Tourism companies are principally outsourcing online processing services and customized booking engines and others for improved visibility and customer contentment. The present customer is ready to spend out more money and is not afraid to spend as long as he is delivered quality.

How tourism and hospitality affects a country’s growth?

Trade business

Apart from spending money on travel, food and entertainment, most tourists buy diverse local products and take them back to their homes, contributing to the local economy.

Employment

With the growth of hospitality/tourism business, additional employment is created in a country. Several employment opportunities are offered by tourism business. These employment opportunities are related to different segments that are related to hospitality and tourism business.

Infrastructure development

Most of the emerging countries build new highways, airports, hotels, lodges, restaurants, guesthouses and trekking ways to improve their tourism sector. These new developments are very vital to attract more number of tourists.

Cultural development

Apart from above mentioned development, tourists are known for being a central way to exchange culture and values. Hospitality tourismbusiness benefits the local individuals to learn more about the different lifestyles and religions.

Revenue

Tourism and hospitality business in any country helps in creating more income for the locals. Tourists pay altered taxes to the government which helps the country to develop. Tourists also support the local traders to receive extra revenue and profits by shopping.

The growth of tourism and hospitality business offers multiple opportunities to small operators and communities. This is why numerous developing as well as developed countries all around the world are encouraging this sector.

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