Current Trends in Global Hospitality Industry

In various nations in which tourism is a major industry for exports, the sector of hospitality has become the central point for the globalization concepts to take root. Evidently, tourism is today the largest export industry in the world since it involves the gargantuan cross boarder flows of capital and people. Hospitality industry has become the world’s largest employer and almost the largest foreign exchange trader.Advertising We will write a custom essay sample on Current Trends in Global Hospitality Industry specifically for you for only $16.05 $11/page Learn More It is the center of idea transfer and cultural cross fertilization. It plays an important role in the physical bringing up of people in a global community (Benckendorff, Moscardo Pendergast, 2010). Therefore the hospitality industry is the core of international business globalization. They thus need to make considerations of the global context implications in which they perform the ir operations and must get ready to address the arising questions resulting from the changing environment (Bryman, 2004). There have been various current trends in the global hospitality industry that are tangible enough to drive the global marketplace of this industry. There has been globalization of lifestyles and businesses that are characterized by communication in foreign languages over vast distances, multiple currency dealings, high frequency in distant travels overseas, copying with various social and political systems, cultures and customs and different regulatory environment. Although the mentioned globalization aspects may not be difficult to identify, conceptualizing the underlying future and current trends in global hospitality industry may not be easy but problematic (Botherton, 2008). Analysis has revealed that certain issues do reshape the global hospitality industry. Some of these issues arising include; International expansion within the common brand position and product Cross boarder training of the employee in order to support operations Marketing and sales programs that capture the global economies of scale fully Utilizing the world capital market as the main source of funding The structures of the organization that allow delivery of services globally with the local operational controls After an intensive study of the provided book and article sources, I have identified various current trends in global hospitality industry. These current trends include: less real service, most services in the hospitality industry are self-served.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Things like reservation, checking in, making telephone calls and unpacking are practically done by the guests. There is less service provided by the staff and user friendly has replaced the services; continual change of employees, most employees stay for less time in the j obs by their choice or the employers. The employers are looking for those who can be multitasked in order to improve productivity; owner groups have become hyper-active, owners are more likely to be corporations and are represented by asset managers. The owners want frequent financial returns; and multiple brands originating from the same mould, more brands now offer a similar base product (Botherton, 2008). Other current trends in the global hospitality industry include the replacement of management companies by the advancing technology that measures best practices of management. The definition of luxury now varies with every guest. This has led to the diversification of service offering leading to the best services clients ever dream of making the industry competitive. Tconsistency of quality is now a factor in most hotels. The clients are able to predict the quality of the services they would receive from the service provider before making any move (Bryman, 2004). In summary, I w ould assert that current trends in the global hospitality industry have led to the creation of a link between entertainment and hospitality which attracts many generations. The industry ahs become more profitable with quick returns. Many consumers are also able to access the truth about the services in this industry. Sustainability and variety of hospitality services has been improved by the current trends in this industry (Benckendorff, Moscardo Pendergast, 2010). Bibliography Benckendorff, P., Moscardo, G. and Pendergast, D. 2010. Tourism Generation Y, CABI: Wallingford, UK.Advertising We will write a custom essay sample on Current Trends in Global Hospitality Industry specifically for you for only $16.05 $11/page Learn More Botherton, B. 2008. Researching Hospitality and Tourism. London: Sage Publishing Bryman, A. 2004. The Disneyization of Society. London: SAGE This essay on Current Trends in Global Hospitality Industry was written and submitted by user Nakia to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. Current trends in Global Hospitality Industry The hospitality industry contributes greatly to the tourism sector because it acts as a source of tourist attraction for both local and foreign tourists. Social media denotes various technologically backed tools and amenities that facilitate easy communication and interaction through the internet.Advertising We will write a custom essay sample on Current trends in Global Hospitality Industry specifically for you for only $16.05 $11/page Learn More Social media has a unique ability to share resources and data across a wide geographical proximity through the use of several (Andrews 2007) modes of transmission. This can be through images, text formats videos, and other multimedia data formats. There are diverse means through which social media is taking shape. In today’s world, technology seems to be undergoing change within short periods. Thousands of applications and technical (Kaplan Haenlein, 2010) inventions are being introduced to various fiel ds all over the globe. This research study mainly touches on the current trends in global hospitality industry with regards to ethics. Research shows that there are several dilemmas taking (Barrows Powers, 2008) shape in various work settings. Conversely some of the most profound issues in business morality include corruption, extortion, facilitation recompenses, ecological complexities and human rights. Furthermore sexual and cultural bias, cost disparity and destructive items add on the budding list of business ethics. I, therefore, contend that for hospitality business to thrive ahead of the non-service industry, they need to study their customers to comprehend destinations they prefer, nature of information is vital to them to establish how they want to be in touch with their business operations and uphold moral standards. They will be required to employ the power of social media to develop a positive image to the global client. But simply putting up a Facebook (Andrews 2007) p age is not adequate to the targeted population. However, changes in political position and Legislation have greatly impacted hospitality industry both negatively and positively. If there are changes in the political structures or there is political instability in the source country, then the tourism industry of the country will be adversely affected.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In terms of legislation, if the source country introduces some travel advisories restricting its citizens from touring another country, the target country’s tourism industry will be negatively affected (Barrows Powers, 2008). On the other hand, the removal of political constraints between countries will promote the tourism industry of both countries, a fact which will benefit the resorts and other tourist destination in the region. Nevertheless, society’s values and habits have also had some impact on the well being of the industry. The truth is, the hospitality sector will greatly benefit from efficient two-way informational cycle supported by such online masses to create and provide demand pushed preference for brands across various consumer classes. These online facilities will enable industries with such statistics like the hotel sector to increase their productivity due to resultant advantages behind social media marketing. Largely, social media marketing is proving to be a formidable force in the global commerce, apparently, there are (Kaplan Haenlein, 2010) much wider impacts expected within the operational realm of industries such as the hospitality one. As the world continues to study the emerging trends of technology on various economic sectors, there is a drastic change of procedure brought about by social media applications (Curbmings et al. 1998) in most industries. In the hospitality industry, new innovations have impacted heavily on most proced ures involving customers and different service providers (Buhalis, 2003) as a result hospitality industry guests are now able to utilize reliable and instant service and brand information with minimal cost and time requirements. References Andrews, S., 2007. Introduction to Tourism and Hospitality Industry. India: Tata McGraw Hill Education Private Limited.Advertising We will write a custom essay sample on Current trends in Global Hospitality Industry specifically for you for only $16.05 $11/page Learn More Barrows, C.W., Powers, T., 2008. Introduction to the Hospitality Industry. New Jersey: John Wiley Sons, Inc. Cummings, P.R., Kwansa, F.A. and Sussman, M.B. (1998). The Role of the  Hospitality Industry in the Lives of Individuals and Families. United States of America: Haworth Press, Inc. Kaplan, A. M., Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of social media. Business Horizons, 53(1), 59-68. This essay on Current trends in Global Hospitality Industry was written and submitted by user Midnight to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.