Hospitality Industry Assignment | Emerging Trends
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Added on 2020-01-23
Hospitality Industry Assignment | Emerging Trends
Added on 2020-01-23
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EMERGING TRENDS INHOSPITALITY INDUSTRY1
Table of ContentsINTRODUCTION................................................................................................................................31.Corporate Management Responsibility .......................................................................................32.Protecting Human Rights..............................................................................................................43.Philanthropy and Community Investment....................................................................................54.Approach to Environmental Stewardship.....................................................................................65.Emerging hospitality industry trends...........................................................................................7CONCLUSION....................................................................................................................................9References..........................................................................................................................................102
INTRODUCTIONHospitality industry has an great impact on the growth rate of the hotels and play vital rolein achieving the success. This report includes the effects of emerging trends in hospitality industry.Hospitality industry includes the service industry like lodging, event planning, theme parks andadditional fields in tourism industry(Buonocore, 2010). Moreover, it include the effectiveprocessing to provide the best quality services to their customers. In this particular scenario, HyattInternational is a luxurious hotel and the hospitality in this hotel includes various services likemaintenance of housekeepers, bartenders, kitchen staff members and their direct operations as well. There are several types of issue that affect the business of Hyatt international in the way ofgrowth and production and expanding the business as well.1.CorporateManagement ResponsibilityCorporate Management Responsibility is an effective approach to achieve the success onimmediate basis and it includes the environmental management and strategies for the particularorganizations(Chan and Kuok, 2011). As according to its name, corporate managementresponsibility mainly describe in the way of imply the regulatory mechanism, ethical standards onthe basis of national and international norms as well. Hyatt has an effective and several issue relatedto the hospitality and these factors are directly affect the performance of the hotel in recent trends aswell.The major impact of hospitality industry business on the environment of hotels has a vitalrole and importance. Management of the hospitality plan an effective strategy andimplementing it in better way to reach the long term goal of Hyatt International. This plan ismajorly include the mission, vision and goals of the hotel and plan the strategy to sustain inthe market of hotel industry(Guillet, Zhang and Gao, 2011). Economic, environmental andsocio-cultural sustainability these factor directly affect the industry planning, executives,stakeholders or more.Hospitality industry plan the strategies related to environmental care, waste managementand minimization, recycling, reuse, reduction in production cost this brings the costreduction in the particular organizations(Jones and et.al., 2016). In corporate sustainability, there are several external factors affect the organizationalprocedure and their operations as well. Most of the organization may apply the strategiesand tactics to achieve the targets. Hospitality industry has an aim to fulfil all the needs of theconsumers and provide best services and quality services as well. In fact, external factorsdirectly affect the services of the organization and it consist the competitive environment,3
fluctuation in economy, changes in law and orders, drastically changes in technologies ormore.Indirect influence is consider the drastically changes in the economy rates of the hotels.Because of that, many of the people try to avoid spending much more money in hospitalityindustry. Global economy is in decrement condition and by that reason hospitality andtourism business also goes down and becoming poor(Kasavana, Nusair and Teodosic,2010). Moreover, any changes done by the government in running rules and regulation thatdirectly affect the business of hospitality and tourism and hospitality industry has no controlover these laws and orders. In addition to this, new technology invention also has a greatimpact on the business of hospitality. In this particular case, if the company not use the newtechniques the competitor will take the advantage and it will be very difficult to sustain inthe market without adopting that new techniques(Verhoef and Lemon, 2013). Technologiesdirectly affect the success and growth rate of the Hyatt international or their providingservices as well. Sustainability is the major factor in hospitality industry, in which it consist the behaviourand decision of consumers, investors, stakeholders who are involved to the industry in director indirect way. This factor ensures that efforts and commitment to the environment ofhospitality and the responsibility which is focuses on the advantage of the firm. There aremany factors which are used to improve the services of hospitality and become an eco-friendly organization. To sustain in the recent trend of hospitality industry, it is veryimportant to build a strategic planning for maintain the services, production and quality rateas well(Kusluvan and et.al., 2010).Management responsibility is the process in which manager and leader has to be understandtheir roles and responsibility towards the hospitality and operations as well. In addition tothis, firm not only look for investors and customers they look for their employees, staffmembers, community and environment as well(Tsang and Hsu, 2011). Many of the hotelsectors apply the Corporate social responsibility to attract the employees and retain theirperformance. For that particular reason employees want to work with the firm and doinggood for the firm.2.ProtectingHumanRightsAs according to its name, protection of human rights is very important factor in anyhospitality industry. In this case, the protection of human rights is in underestimation condition likepeople faced thousands of problem everyday and they don't have support from the government to4
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