Business Analysis: Trends and Economics of Hospitality Industry

This report provides a comprehensive overview of the contemporary hospitality industry, exploring various business types, operational and functional departments, and their interrelationships. It examines the industry's contribution to local, national, and international economies, with a focus on the impact of franchising and licensing agreements on global development. The report also analyzes current and potential trends in the hospitality sector, including sustainability, local experiences, and healthy food options, and evaluates how businesses can adapt to these trends. Furthermore, it discusses the implications of external factors on these trends, highlighting the competitive landscape and the importance of responding to changes in the external environment. The report concludes by summarizing key findings and emphasizing the significance of understanding industry trends for organizational success. Desklib offers this assignment solution along with a wide range of study resources for students.

The Contemporary Hospitality
Industry

Table of Contents
 INTRODUCTION
 MAIN BODY
 Different types of business within the hospitality industry
 Range of operational and functional departments within hospitality business
 Contribution of the hospitality industry to local, national and international economies
 Review on the interrelationship of operational and functional unit
 The use of franchising and licensing agreements for influencing the global development
 Analysis on global growth, licensing and franchising contribution to economic worth
 Implications of current and potential trends in the hospitality industry
 The ability of business to develop product and service in relevant to current trends
 Evaluation of impact of external factors on current trends
 CONCLUSION

INTRODUCTION
 This presentation will determine and exploration of various business types in industry as well
their product offerings and examine the range of operational and functional departments for the
same.
 Also, it would be discussing the contribution of selected organization to local, national and
international industry and interrelationships of operational and functional unit.
 Furthermore, it will show how franchising and licensing agreements influences global
development in merit context and distinction.
 At last, it will provide the implications of present and potential trends in industry with a range
of specific examples for the same.

Different types of business within the
hospitality industry
 Hospitality industry is the major concerned factors which provide immensely towards the
global economic output.
 The industry is aligned with several business types in forming better relations with each other.
 By using the digital technologies by both business and consumer enhance the purchasing power
of consumer which motivates the rapid growth in global industry.
 The hospitality industry is vast range of category for fields within service industry as such it is
consisted of food and drink service, event planning, travel and tourism ad lodging.
 Each of them has opportunity to run the business operations in effective terms.

Range of operational and functional
departments within hospitality business
 There are various types of departments in Club Quarters Hotel such as there are four major operational
departments of Hotel are Food and beverages, housekeeping, service department, front office department.
 In addition to such there departments, there are several functional departments who operate the marketing
mix of organization and enhance the productivity as well.
 Thus, such departments would be HR, account and finance, purchasing department.
 The role of operational departments is to cater the better quality of service to customer and as such
manager keep the eye on services being served in manner.
 The housekeeping department plays very essential role which directly impact and drive the attention from
guest.

Contribution of the hospitality industry to
local, national and international economies
 The hospitality sectors has immensely growing the respective sectors which is one of the social
phenomena in UK.
 The major perceived socio economy impact of the sector enhanced employment, living standards,
great tax revenue to state and local governments as well as success in the local retail sales.
 Gross value adds the contribution to gross domestic product aspects which contribute to economy
of each individual producer or industry.
 The contribution of industry has developed the significant impact on then national economy scale.
 Furthermore, tourism is UK's biggest and successful industries which is expanding immensely
towards growth outcomes..

Continued
 After Brexit, the industry has considered by most of the tourism and continuously
growing in such environment.
 In similar manner, UK is one of major visited destinations and guest like to travel and
make their staycations in the hotels of UK.
 Thus, impact of hospitality sector over economy has affected in several ways such as
direct impact, indirect impact and induced impacts.

Review on the interrelationship of
operational and functional unit
 For Club Quarters Hotel, operational and functional department work effectively in order to provide
competitive advantage.
 The interrelations of departments work by cooperating with each other to manage the work efficiency.
 Individual departments have their own role and responsibilities in which the task are performed by
each individual in adequate terms.
 By following this working criteria it would be beneficial for business to get positive outcomes and
attention from their target audience as well.
 Functional manages their own responsibilities in hiring and training in order to develop the skilled
workforces in such work culture.

The use of franchising and licensing
agreements for influencing the global
development
 While acquiring the use of franchising, mostly come with large, loyalty program, loyal fan base, logo
as well as brand standards.
 For instance, it can be said that Club Quarters have their own unique phraseology that can be used by
employees in international cities, they also have the signature scent used in all unrestricted areas.
 Also, fonts for brand for any accumulation and uniforms which is same for any place.
 The major role of franchising in industry influences the development by longevity in respective
industry and high rate of return on investment.
 By executing to this lodging and restaurants franchise may be profitable for franchisor and franchisee.

Continued
 For licence agreement the owner of hotel can take place with hotel brand.
 In such process owner will operate hotel and brand value come form the licensor.
 This would be common for hotel to manage their brand under hotel management
agreements and for limited service hotel to be branded pursuant to licence agreements.