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The Hospitality Industry Essay

3102 words - 13 pages

The main aim of this report is to provide a brief description of the hospitality industry in UK along with its size, scope and diversity in order to convince the panel of potential investors to invest in the hospitality industry. My management consultancy firm was asked to produce a formal report focussing on the foreign business people to help them to decide whether to invest or not in particular sector of the industry for the coming London 2012 Olympic games. It will provide them a brief description of different ownership styles, management styles as well as organisational structure of several different sectors of the hospitality industry. Moreover, it will also provide the detail analysis ...view middle of the document...

(Jones, 2002).Hospitality industry is defined as” hotel, motels, inns or such businesses that provides transitional or short-term lodging, with or without food.”( Both definitions suggest that hospitality industry is the industry which provides food and accommodation to the guest. Hospitality industry is made up of two distinct services- provision of overnight accommodation for people staying away from home, and the provision of sustenance for people eating away from home or not preparing their own meals.” (Jones, 2002).
“British Hospitality: Trends & Developments 2010 which was published today has revealed that, despite the recession, the UK hotel industry is continuing to expand, with over 10,400 rooms opening in 2010 and a further 43,000 planned for the period 2011-2015.”(British Hospitality Association,14/11/2010).The hotel industry is flourishing every year. Moreover, the tourist coming to the UK especially London is never stopping.”The amount spent by overseas visitors to the UK rose by 15.9% during July 2010 to £1.96b, compared with £1.69b during the same month of 2009, according to the Government’s latest Overseas Travel and Tourism figures. The number of overseas visits to the UK increased by 4.9% to 3.24 million during this period, compared with 3.1 million in July 2010.”( looking at the figures above we can say that it is secure and safe to invest in the hotel industry.
There are various sectors in the accommodation where businessman can invest. They can invest in different types of chain hotels, business and conference hotel, budget hotels, boutique hotels, motels, lodges etc. They can invest in the existing property or build up hotels by themselves. If they invest in chain and popular hotels they may save the time and money for the advertisements and promotions. Budget hotels are also getting popular nowadays because of the low disposable income. People want to spend less money and get good facilities and service. Moreover, they can also construct a new hotel by themselves where they can be the sole owner and can have control over the profit and loss of the business. Business people can also buy the franchising license or do the management contracting.

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Scale, scope and diversity
The hospitality is one of the largest and fastest growing industries in the world.” There are just over 46,000 hotels and guest houses in the UK, and the hotel industry remains a significant sector of the economy, with an annual turnover of around £40billion (Trends & Statistics, 2008, British Hospitality Association).”” The industry is made up of about 127,000 properties and employs a workforce of 1.6 million people.” (British Hospitality Association) It is...

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