Contemporary Hospitality Industry: Analysis and Expansion Report

This report provides an overview of the contemporary hospitality industry, focusing on the strategies businesses use to expand globally, such as franchising and licensing. It explores the roles of operational and functional departments in achieving organizational goals and satisfying customers. The report highlights the industry's contribution to local and national economies, including its impact on GDP and employment. It also examines the growth of the hospitality sector, driven by increasing travel and tourism, and its influence on related industries like fast food. The analysis emphasizes the importance of the hospitality sector in generating employment opportunities and improving living standards. The report underscores the benefits of franchising and licensing for hospitality businesses seeking international expansion. The report also analyzes the interrelationships between various aspects of the hospitality industry and its impact on the global market.

Contemporary Hospitality Industry
Contribution of Local and National Economy
Hospitality industry is regarded as fast growing sector
that create various opportunities for others so that
business can be expand to global or international level.
With help of hospitality industry visitors and guest can
easily travel to different places and stay safely at
hotels. The hospitality industry helps in contributing
10% of GDP to world. With rise in need and demand
of people, this sector is growing and developing their
existence at local, national and international level. Due
to rise in people' requirement, different hospitality
companies such as Marriott, Radisson Blu and other
are operating business at international level. According
to analysis of data, it has estimated that more than 699
million guest and visitors travel various place that lead
business and country to grow and increase their
economy. With rise in number of travellers helps to
generate employment opportunities for local, national
and international individuals, which is near about 12%
in country. This also leads to more growing of fast
food such as Burger King, Pizza Hut, KFC,
McDonald's and others. These all helps in employment
generation and rising economy of country in effective
and efficient manner. This all helps in improving
living standard of people in better manner to achieve
their goals and objectives.
Review the interrelationships
The operational and functional department of every
organisation helps to conduct activities and work in
effective and efficient manner. When this department
perform their roles and responsibilities in better
manner at company then they can achieve goal and
satisfying their consumers, guests in proper way. As
both department work together for running activities
of business in good manner. For example, if
Southbank Centre has to organise an event in their
hotel then functional department provide help for
arranging funds and operational department conduct
their activities to make event success. In this both
department coordinate with each other so that best
outcome can be achieved.
Franchising and licensing
The main aim of any business and
organisation is to earn maximum profits
and gain in competitive market. This is
possible only if firm expand their business
at international level, which helps in
enhancing profits, customer's ratio, and
market share. For growing at global market,
company should adopt different tools like
partnership, strategic alliance, licensing,
franchising and others. With assist of both
licensing and franchising, hospitality sector
can easily expand business at global market
and level. This tool helps to provide
authority to party for using their logo and
sale product in market with existing brand
name. The benefits of franchising is to
brand value of previous company and
enlarge business opportunities in other
market too. Licensing helps in providing
legal security to operate in other countries.