Contemporary Hospitality Industry: Recent Trends and Future Outlook

This report analyzes recent developments and potential future trends affecting the hospitality industry, focusing on key areas such as the influence of millennials, the impact of technology, and the growing emphasis on customer health and well-being. It explores the rise of small-scale hospitality ventures, the role of technology in online booking and service delivery, and the importance of regulations and quality assurance. The report also examines the current image of the hospitality industry, highlighting its contribution to job creation and its shift towards a global market. Furthermore, it provides a justification for predicting these trends, emphasizing the steady growth and investment potential within the sector. Finally, the report assesses the impact of these trends, considering changing customer behaviors, the value of brand names, and the role of international travel in shaping the future of hospitality. The report includes references to academic papers and studies to support the analysis.

Contemporary
Hospitality
Management

TASK-3 Recent developments and potential
future trends affecting hospitality industry.
• Millennials- They are the most travelling people this would be increased
by 50% by 2025. They travel for their business purposes. So industry
should make their plans that is based on demographic and personality
traits.
• Tech inundation- Most of the travellers are comfortable with online
booking with updated apps and mobile phones.
• More emphasis on health and well being of the customers should be
considered.
• Sustainability rules should be made by the government like echo-
friendly resources including power and water supply.
• Destination promotion on social media like Facebook, Twitter and many
more.

Small scale retentions-
• It's not a new thing that small cafes and shops are operated in market.
• The establishment of small cafes influencing the hospitality business.
• In UK there are a number of cafes that are dealing with lower prices than
McDonald's.
• The customers are distracting at different places in the search of local food
tests.

Emergence of technology-
• All the sectors in hospitality business are dealing with technologies for
online booking of hotels, travelling services and others.
• More and more customers are attracted by this because all informations
related with services are shown on concerning sites.
Regulations –
• Hospitality sectors must have to deal with different kinds of legal policies
and regulations for the quality assurance of their services.
• Food services provided by McDonald's are quality checked by the legal
authority.
• Food allergens are not allowed in food recipes.

Current image of hospitality industry.
This industry is dealing with a number of services including leisure, food,
beverage accommodation services. The most dominant image of this is
summarised by tour and travel agencies. In UK there were more visors in
2009 but the rates de accelerated in 2010. In these current days' travel and
tourism services are in an acceleration because they are dealing with global
market instead of only geopolitical market. Image of this industry is clear
because total number of jobs which are created by this are providing so many
opportunities for the people.

TASK 4-Justification on the prediction of trends
and development in hospitality.
• The prediction on study of development in hospitality industry shows
that there is steady growth in it.
• It is expected that during near future more and more investors are going
to be connected with this industry.
• Different services that are run by this industry will make a boom in this
sector because people with specific interest will get their chance to invest.
• The investors will try to get more and more profits from this industry so
they will try to make it promote by their own ways too.

Impact analysis for predicated trends in
hospitality
• The customers thoughts are changing according to their behaviours and
attitudes.
• The value of brand name has a great impact over the people mind.
• The importance of technology for customers and their applications are
providing the good analysis for predicted trends.
• The International government is allowing people to move abroad with the
ease availability of visa so that more and more people can travel to the
different parts of the world.

REFERENCES
Radojevic, T., Stanisic, N. and Stanic, N., 2015. Ensuring positive feedback: Factors
that influence customer satisfaction in the contemporary hospitality industry. Tourism
Management, 51, pp.13-21.
Kandampully, J., Zhang, T. and Bilgihan, A., 2015. Customer loyalty: a review and
future directions with a special focus on the hospitality industry. International Journal
of Contemporary Hospitality Management.27(3). pp.379-414.
Jones, P., Hillier, D. and Comfort, D., 2016. Sustainability in the hospitality industry:
Some personal reflections on corporate challenges and research agendas. International
Journal of Contemporary Hospitality Management.28(1). pp.36-67.
Kim, M., Vogt, C.A. and Knutson, B. J., 2015. Relationships among customer
satisfaction, delight, and loyalty in the hospitality industry. Journal of Hospitality &
Tourism Research.39(2). pp.170-197.

THANK YOU