Hilton Hotel and the Contemporary Hospitality Industry Report

This report examines the contemporary hospitality industry, specifically within the United Kingdom, highlighting its significant contributions to the local, national, and international economies. The analysis covers key aspects such as employment generation, with the hospitality sector identified as the third-largest employer in the UK. It delves into the industry's gross value added (GVA), tax revenues, and investment figures, illustrating its substantial financial impact. Furthermore, the report uses Hilton Hotel as a case study, discussing the various sectors within the hospitality industry, including lodging, food and beverages, travel, tourism, and entertainment. It also explores the current and anticipated skills required to thrive in the hospitality sector, offering a comprehensive overview of the industry's dynamics and importance. The report emphasizes the industry's role in generating employment opportunities and contributing to the overall economic growth of the UK.

Hospitality industry is one of the most prominent
industry which has gained a significant attention in
the present business world. People are becoming
travellers who wants to explore different places for
different purposes. The company which will taken
under this fact sheet is Hilton hotel which has
started its business from 1919 and provides the
customers with different services of hospitality
industry. This fact sheet will explain the
contribution of hospitality industry to the local,
national and international economies. It will also
concentrate on exploring current and anticipated
skills which are required under the hospitality
industry.
P3. Contribution of the hospitality industry to the
local, national and international economies.
The hospitality industry is one of most important
and revenue generated industry in the market of UK
which has a stronger contribution in the economy of
country. Hospitality in UK includes different types
of business like lodging, food and beverages, travel
and tourism, entertainment, etc. Therefore, the
following are the contribution to the hospitality
industry for the local, national and international
economies:
Also, in 2017 the total investment in businesses by
hospitality industry was estimated at 10 billion pound
which is 5% of total business investment of UK.
Export: The hospitality industry of UK accounts for
the major portion of the overseas visitors spend in UK.
It has been identified that the hospitality business has
contributed 18 billion pound from its exports of goods
and services to the foreign travellers and tourists. The
amount which is spent by the total global customers or
travellers is estimated at 24.3 billion pound out of
which 73% was spent on hospitality sector.
In relation to the creation of jobs, the hospitality
industry has various segments like hotels, restaurant,
catering, entertainment, events management, etc.
which has been increasing at a tremendous rate since
past 10 years.
Gross value added: Due to labour intensive nature
of the hospitality industry, the contribution of GVA
is less as compared to the employment but the
hospitality sector of the UK comes at thirteenth
position out of twenty industries where it accounts
between 3.5% to 5.1%. The hospitality sector has
increased the GVA of the UK at a very rapid rate
compared to other industries.
Tax and investment: With large number of tourist
who are visiting the country, the hospitality industry
has estimated at 39 billion pound in gross receipts of
the UK as per year 2017. And majority of this
amount has been came from VAT on sales.
Contemporary Hospitality Industry