Hospitality Management

Paper Summary:

This paper examines the hospitality industry, one of the largest industries in both global and national contexts. It looks at how the industry is composed of fifteen segments including lodging (hotels), commercial food service (restaurants and catering), institutional food service, casinos, cruise lines, travel agency services, event services, convention hosting, arena services, sport complex management, resorts, parks, clubs, tourism and transportation services related to the other segments of the industry. It show how this complex industry accounts for more jobs, sales and tax revenues than any other single industry in most countries and how the segments of the hospitality industry are interdependent and rely on one another for overall success.

Outline
Introduction
Defining Hospitality
Importance of Industry
Structure of Text
Tourism, Travel and the Hospitality Industry
Status of the Industry
Importance to Hospitality
Agency Relations Trends
Property Development
Development
Design
Acquisition and Financing
Creating Value
Brand Management
Franchising
International Operations
Tourism, Travel and the Hospitality Industry
Status of the Industry
Importance to Hospitality
Agency Relations
Trends
Property Development
Development
Design
Acquisition and Financing
Creating Value
Brand Management
Franchising
International Operations
Strategic Management
Industry Relationships
External Environment
Importance of Change
Planning
Finance Management
Revenue Control
Yield Management
Cost Control
Financial Statement Analysis
Balance Sheet
Income Statement
Cash Flow Statement
Legal Issues
Contract Law
Liability Exposure
Diversity Issues
Discrimination Law
Employment Law
Information Management
Computer Systems
Data Management
Data Analysis and Application
Operational Technology
Check-In and Check-Out
Security Technology
Guest-Oriented Technology
Guest Room
Technology
Special Facilities
Operations Management
Security and Loss Prevention
Sanitation Issues
Maintenance Management
Energy Management
Organizational Management
Organizational Structure
Organizational Behavior
Organizational Communication
Organization of Work
Human Resource Management
Functions
Recruitment and Retention
Compensation Management
Marketing Management
Planning
Strategy Development
Promotion
Sales Management
Developing Customer Value
Lodging Management
Food and Beverage Management
Casino Management
Event Management
Conventions
Conferences
Resort Management
Professional Standards
Codes of Conduct
Best Practices
Benchmarking

From the Paper:

"In 1988, tourism once again began a rise. This time, however, the crisis in the Middle East that eventually erupted into the Gulf War brought tourism to a screeching halt. When the Gulf War ended, tourism was once again expected to begin a growth phase. By that time, however, the United States had entered into another economic recession, and economic activity in most of the other industrial nations had begun to slow. At that time, recovery in the travel industry was not expected to occur until the mid-1990s."

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