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THE CONTEMPORARY HOSPITALITY INDUSTRY

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THE CONTEMPORARY HOSPITALITY INDUSTRY

Introduction

In recent time hospitality industry is considered as one of the most successful and emerging industries that produce huge amounts of profits and a huge amount of revenue. As opined by Radojevic et al. (2015), the huge amount of revenue which is generated by the hostel industry has become one of the most important economic generators for various countries of the world. Hospitality is considered as one of the most crucial or important elements for the hotel industry of the world.

The aim of this report is to provide brief descriptions of the current scale, diversity and scope of hospitality industry this will help to convince the potential investors in order to invest in the hospitality industry. This report will also foster the organisational structure of various hospitality organisation of the UK like the Dorchester & the Savoy along with also assess the roles of the hospitality for this organisation and the professional bodies. This report will mainly focus on the analysis of the hospitality industry or sectors, recent developments, and mainly on the potential trends that are affecting the hospitality sectors.

1.1 Analyzing current diversity, scope and scale of hospitality industry

Scale of the hospitality industry:

UK's hospitality industry is ranked as the fourth largest hospitality industry in the world that almost deliver around 53 billion great Britain pound (GBP) annually that gets added to the gross value of the economy. As opined by Kandampully et al. (2015), this sector has the huge impact on the society of UK in the positive way as this sector employs around 10% of the total workforce of UK. That is in the UK around 2.7 billion of people are working in this sector. As stated by Jones et al.  (2016), as per the analysis of the growth and tends of this sector the Associations of British hospitality (BHA) has come to a conclusion and predicted that by the year of 2020 this sector will offer nearly 3000,000 new and fresh jobs.

Diversity of hospitality Industry: 

Significance:

Diversity in the hospitality industry provides many significant benefits. Diversity helps to exchange culture among the hospitality guests and workers which provides opportunities for the hospitality industry mainly for the business globalization.

Benefits of diverse workforce:

Diverse workforce has strong business advantages; multiculturalism is the implications of the inclusions that are linked to provide competitive advantages to the companies. This also helps to promote unbeatable reputations among the potential employees and also encourages the effective and creative problems solving for the workers.

Discrimination:

Discriminatory behavior can be dangerous as well as costly for the hospitality business rather than the embracing diversity. This not only creates loss of the revenue but also create confusion in the management. This helps to eliminate discrimination from the Hospitality workforce by encouraging leaders to promote cultural diversity, develop clear business culture and acknowledges the personal biases.

Scope of hospitality Industry:

Tourism ministry and Tourists office

The scope of the hospitality management and hospitality industry is extended to the tourism ministry and tourist offices. Tourist office is the place that provides information on the attractions, loges etc to the tourists. Tourism ministry is the governmental body which handles problems and the issues related to tourism. The responsibility of the tourism ministry is to promote the various attractions and solve the problems of the tourists.

Event management

It is the sills use for the project management in order to organize large scale events like marriage ceremonies, parties, receptions, conferences, concerts etc and mange them efficiently.

1.2 Discussing organisational structure by considering The Dorchester, & the Savoy

In UK hospitality sector organisations are structured in order to fulfill some aims that are

       Maximize the revenue

       Offer and provide safer quality services

       Enjoy the competitive edge compared to the competitors or over the competitors in the market

The organisational structure is defined as the arrangement which sets role and communication modes for making decisions. Taking the example of The Dorchester, & The Savoy, the structure of the hospitality industry can be

Commercial or Service Sector

It is important that both the hotels that are The Dorchester & the Savoy should have hospitality be their main aim and they must ensure that this aim is motivating enough for the business. In accordance to Šerić (2014), if both the hotels follow the aims and are affirmative to follow it then it considered being commercial operations. Otherwise, they may exist just because a number of citizens are residing or learning or doing the job there. This is the way for the service function.

Revenue generation or the operation of the financial plan

In the opinion of Kang and Lee (2014), the main hospitality function of The Dorchester, & The Savoy requires to generate revenue, however, there are many hotels who diner they only focus on maintaining the definite budget. For example, the local cafeterias made the financial plan where they thought of keeping the food charges for 75 p for each and every meal for each day. In the workplaces as per the financial plan, the dining hall functions must be cheap where the expensive launch must encourage doing the job there that will act as the occupational bonus.

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