Looking for knowledge and key business information on the hospitality industry?
TechnoFunc brings to you hospitality industry overview, business model, value chain, competitive landscape, and latest trends. The Hospitality Industry is a broad category of fields within the service industry that includes lodging, food and drink service, event planning, theme parks, and transportation. It includes hotels, restaurants and bars. The market size of the global hotel industry was just over 570 billion U.S. dollars in 2017. The hospitality sector encompasses a wide variety of activities within the services sector and is a major job provider both direct and indirectly. Food and beverages, Travel and Tourism, Lodging, and Recreation are all segments of this industry. This section on Hospitality Industry is designed to help learners have an overview and understand key concepts, terminology and glossary, issues and challenges, associated with the industry, and what strategies gets employed to meet some of those challenges.
Learn the various dynamics and challenges in the domain of hospitality industry. Quickly enhance your business acumen and talk like an expert and impress your stakeholders in your next meeting!
Hospitality is the act of kindness in welcoming and looking after the basic needs of customers. The hospitality industry is a broad group of businesses that provide services to customers. The industry can be broken down into three basic areas: accommodations, food and beverage, and travel and tourism. Hospitality is actually one facet of the service industry. It primarily involves addressing customer satisfaction and catering to the needs of guests.