This report provides a comprehensive overview of the contemporary hospitality industry, covering various aspects such as different types of businesses, operational and functional departments, and the industry's contribution to local, national, and international economies. It reviews the interrelationships of operational and functional units, assesses the influence of franchising and licensing agreements on global development, and analyzes the impact of global growth on the industry's economic worth. The report also investigates operational roles, examines required skills and current shortages, reviews skills gaps, and analyzes their impact on businesses, suggesting solutions. Furthermore, it assesses PESTLE factors, conducts a SWOT analysis, and appraises the implications of current and potential trends, evaluating a hospitality business's ability to develop products and services to meet these trends, and critically examines the impact of external factors on industry developments.
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