Hospitality Industry Report: Global Trends and Economic Impact

This report provides a comprehensive overview of the hospitality industry, examining various sectors such as lodging and accommodation, and their contributions to local economies. It delves into the interrelationship between functional and operational departments within hotels, using the Goring Hotel as a case study to illustrate these dynamics. The report also explores the importance of franchising and licensing in the global development of the hospitality market. It highlights how these strategies can enhance productivity and efficiency. The analysis includes both internal and external factors influencing the business environment. The report concludes with a summary of key findings and their implications for the industry's future.

THE CONTEMPORARY
HOSPITALITY INDUSTRY

TABLE OF CONTENT
• INTRODUCTION
• TASK A
• CONCLUSION
• REFERENCES

DIVERSIFICATION OF SECTORS IN
HOSPITALITY INDUSTRY
• Lodging Accommodation
• This sector of hospitality industry include the accommodation of the people who
seek to have some leisure time o their own and also includes resorts, high star rated
hotels with good comfort. The lodging sector have also increased the business, and
they also started to make the people stay at the camps in the forest for the people
who love adventure or nature with the same satisfaction and services like in hotel.
There are several hotels which do not have any rooms and just connected to nature.
This sector also have increases the efficiency to increase the profit effectively to
provide comfort to the customers and also industrialized value of satisfaction by
innovating the services and adopting new strategies which are more effective.

CONTRIBUTION OF HOSPITALITY
INDUSTRY ON ECONOMY
• Local Economy
• The hospitality industry have contributed in the local society
where the bushiness is running by proving job to the people
and also increasing the standard of living with the increase
their income. The people who now earn more income are
likely to increase the demands and desires to fulfill them and
get satisfied. It also increases the heritage value and cultural
value of the local economy.

INTERRELATIONSHIP FUNCTIONAL AND
OPERATIONAL DEPARTMENTS OF HOTEL
GORING
• Marketing and HR
• The HR department helps the hotel to find the right talent
which are potential and also have required knowledge and
skills which will help to increase the efficiency of the hotel.
the departments also have to discuss the requirements what
the marketing department wants and Hr department also
help in controlling the Marketing department activities to
check if they are effective in doing work for the hotel or not.

IMPORTANCE OF FRANCHISING AND
LICENSING IN GLOBAL DEVELOPMENT
• Franchising and licensing in the global hospitality market will
help the industry to develop and also increase the
productivity more effectively. The industry must also
understand the importance to franchising and licensing their
businesses to other person and what are the problems they
can face while doing the process.

CONCLUSION
• This report had an detailed information about the different
aspect of the hospitality industry and which helped in the
growth of the economy and also connected all the economies
globally. There is a description about how hotel Goring
increased the efficiency of their employees and also used
some methods to help to be efficient to increase the
productivity of the hotel. The report also had an external and
internal analysis of Goring Hotel to know all the factors of the
business environment.