Hospitality Industry – Domain Knowledge
Are you looking for knowledge and key business information on the hospitality industry?
brings you an overview of the hospitality industry, business model, value chain, competitive landscape, and latest trends. The hospitality industry is a broad category of fields within the service industry that includes accommodation, catering, event planning, theme parks, and transportation. It includes hotels, restaurants and bars. The market size of the global hospitality industry was just over US$570 billion in 2017. The hospitality industry encompasses a wide variety of service sector activities and is a major provider of direct and indirect jobs. Food and beverage, travel and tourism, accommodation and recreation are all segments of this industry. This section on the hospitality industry is designed to help learners get an overview and understand key concepts, terminology and glossary, issues and challenges associated with the industry, and strategies used to overcome some of these challenges.
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Hospitality is the benevolent act of welcoming and meeting the basic needs of guests. The hospitality industry is a large group of businesses that provide services to customers. The industry can be broken down into three basic areas: accommodation, catering, and travel and tourism. Hospitality is actually a facet of the service industry. It is mainly to meet customer satisfaction and meet customer needs.