Analysis of Contemporary Hospitality Industry: Growth and Economy

This report provides a comprehensive overview of the contemporary hospitality industry, encompassing various business types such as accommodation, travel and tourism, food and beverages, and entertainment. It examines operational departments like housekeeping, front office, and food and beverage service, alongside functional departments including marketing, finance, HR, and purchasing. The report highlights the industry's significant contribution to local, national, and international economies, accounting for a substantial portion of the GDP. It also assesses the influence of franchising and licensing agreements on the industry's growth and economic worth, emphasizing the role of strategic human resource management in fostering business development. The analysis concludes that the hospitality industry is crucial for economic growth, driven by the provision of high-quality services and continuous development within the tourism sector.

Contemporary Hospitality
Industry

Table of contents
 Introduction
 Different types of business within the hospitality industry and the diverse products and services
they offer
 An examination a range of operational and functional departments
 A discussion of the contribution of the hospitality industry towards economies
 A review of the interrelationships of the operational and functional units within a chosen hospitality
business

Introduction
 Contemporary hospitality organisation basically
consist of various business practices and
surroundings that are generally interrelated to the
industry of hospitality.
 Within the hospitality industry, it is considered to
be the main function of providing major
importance on the contemporary problems and
challenges for purpose of facing competition.

Different types of business within the
hospitality industry and the diverse products
and services they offer
 With reference to hospitality industry, there are different kinds of
businesses and also there are different categories which include
accommodation, travel and tourism, food and beverages and
entertainment.
 Hospitality industry accommodation: With reference to hospitality
industry, it basically comprised of dissimilar kinds of facilities and
hotels also include provision of overnight accommodation for
individuals in travelling, hotel resort, budget hotel, luxury hotels and
many more.

An examination a range of operational and
functional departments
 With reference to hospitality industry, it is very significant to examine
the range of operational and functional departments.
 In the case of operational departments, it basically comprised of
housekeeping, front office department, food and beverage service
department and kitchen department.
 In the case of functional department, it basically comprised of
marketing, accounting and finance, HR and purchasing department.

Contribution of the hospitality industry to local,
national and international economies
 With reference to hospitality industry, it is one of
the main industry and support in determining the
opportunities of business.
 With reference to hospitality sector, it basically
covers the eleven percent of total GDP.

A review of the interrelationships of the
operational and functional units within a
chosen hospitality business
 With reference to hospitality industry, it is considered
to be one of the fastest growing industry in the country
of United Kingdom and also earn profits or revenue by
offering good quality services to their customers.
 With reference to tourism sector, the growth is
increasing day by day and also offers good quality
services to the consumers as per the budget and
location.

An assessment of how the use of franchising
and licensing agreements has influenced.
 Under the case of tourism sector, it is regarded as one
of the most growing and developed industry.
 In context to organisation, it contributes on the larger
scale for the development of economy and the
organisation has also made the huge investment.

An analysis how global growth, franchising
and licensing developments have contributed
to the economic worth of the hospitality
industry
 Licensing: It refers to business organisation in which one
organisation offers another organisation the permission to
manufacture their products for a specific payment. It also
comprises of different intangible sections like patent, production
methods and patent.

Conclusion
The above stated report concludes that the role of hospitality industry is very important in the
development of an economy. It has been concluded that the concept of strategic control of human
aid supports on the larger scale in context to different views that are basically used for the growth
of commercial enterprise in the powerful terms. It has been determined that the approach is based
on the analysis of development that can impact the human aid control extra on the correct basis. So
in the overall manner, the hospitality industry is very useful in order to achieve larger scale of
financial aspect.

References
 Şeşen and et.al., 2019. On the relation between leadership and positive
psychological capital in the hospitality industry. International Journal of
Business, 24(2), pp.182-197.
 Sipe, L. J. and Testa, M. R., 2018. From satisfied to memorable: An empirical
study of service and experience dimensions on guest outcomes in the hospitality
industry. Journal of Hospitality Marketing & Management, 27(2), pp.178-195.
 Wang and et.al., 2022. Are employee assistance programs helpful? A look at the
consequences of abusive supervision on employee affective organizational
commitment and general health. International Journal of Contemporary
Hospitality Management.

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