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Growth and Challenges of Hospitality Industry for Global

In: Business and Management

Submitted By bb11110081
Words 2770
Pages 12
Abstract
This article presents findings of growth and challenges that hospitality industry might fact in the year ahead respectively through globalization. Globalization is becoming increasing important these years in international hotel industry. When hotels flag their properties in a new country, they must localize their products and service in order to adapt the culture traditions of that country strategy. Differentiation strategy is also useful or hotel companies to become competitive in the global environment.
Top issues that will influence the global hospitality industry in the year ahead include sustainable development calls for green hospitality, labor cost, multicultural issues and higher education. Challenges that facing hospitality include will include operating issues, such as labor shortages; marketing issues and economic issues.

Introduction
Hospitality industry has booming like never before. After Second World War, the practice of Hospitality became professional and wide spread, therefore it will acquire a knowledge base so that can improve its operation and develop the manager of the future (Ingram, 1999). The rise in the global travel, market and environmental trends led to the internationalization of the hospitality industry.
The globalization of business and lifestyles is characterized by communicating over vast distances in foreign languages, frequent travel to overseas countries, dealing in many currencies, and coping with a variety of political and social systems, regulatory environments, cultures and customs. While these aspects of globalization are easy to identify, understanding the underlying current and future trends can be problematic.
Globalization is typified by the rapid movement of people, information and capital across national borders worldwide in ways that would have been difficult to envision not too many years ago. Yet…...

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