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Contemporary Hospitality Industry - Assignment Example

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The reporter states that assessing the recent developments in the hospitality industry, organizations have been widely observed to obtain extensive growth following an unconventional managerial and operations tactic and thereby contribute a large portion of the global economy…
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Contemporary Hospitality Industry
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Download file to see previous pages Keeping with the intensive development along with continuous success experienced by the global hospitality industry, the primary focus of this report is to provide an in-depth understanding regarding the current industrial trends on the basis of its typography, structure, ownership guidelines and other essential factors. The discussion hereafter also incorporates adequate information associated with the operational areas, professional bodies, required educational skills along with a critical analysis of the external environmental factors of the global hospitality industry.
‘Hospitality’, can be defined as a well-built corporate establishment that ensures to provide meals, refreshments along with accommodation facilities as services in terms of mutual benefits for both the clients and the organization as well. In general, the concept of hospitality industry can also be termed as an effective blend of tangible and non-tangible products and/or services in order to meet the desired expectations of the clients who commonly comprise tourists. It basically incorporates three core categories including food, accommodation and refreshments (National College of Business Administration, 2009). The dimension serving food and beverage in the hospitality industry tends to incorporate restaurants, pubs and night-clubs among others. Similarly, the extensive numbers of resorts and hotels can be considered as the accommodation categories in the respective industry. According to the recent developments of different products and/or services, the services provided through the travel and tourism companies can also be regarded as a major division of the hospitality industry that empowers the competitive position of the global hospitality industry. As apparent, the organizations in the contemporary hospitality industry includes various types of ownership structures ranging from the government or publicly owned proprietorships, joint ventures, partnerships and franchises among others. ...Download file to see next pagesRead More
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