Globalization of the Hospitality Industry Essay by JPWrite

Globalization of the Hospitality Industry
Examines the need to cater for the world traveller in a globalized era.
# 63860 | 2,694 words | 3 sources | MLA | 2005 | US
Published on Feb 14, 2006 in Business (Industries) , Business (International) , Tourism (General)

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In terms of the hospitality industry, the global consumer is defined as the traveler who frequently travels outside of his or her own country, to varied destinations over the world. The Euro consumer on the other hand is the traveler who makes use of hospitality facilities primarily within Europe. The paper shows the fact that the travel industry and information technology has made world travel much less complicated than in the past, has given rise to the need to globalize the hospitality industry as well. The requirements for this, as well as the extent to which these requirements have been met, are discussed in this paper.

Paper Outline:

Finance and Accounting
Treasury Management
Customer Relationships
Purchasing and Vendor Relationships
Information Technology
Human Resources
Owner Issues

From the Paper:

"In terms of the global market, there is also a need to differentiate products and other facilities within hospitality resorts. Food and beverage products are the most critical factors for success, and the need for global catering here is obvious. There is, for example, a growing demand for all-inclusive resorts. Hotels have therefore found it increasingly necessary to consolidate their resources in order to become a greater success in the global market. Globalization as a trend in all businesses has thus affected the hospitality industry as well. It is not envisioned that regional companies who do not cater to the global need will find survival easy."

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