Ultimately the profitability of the hospitality industry is directly linked to how effective hospitality leaders and managers are in making this connection of experiences and measured performance over time.
The second major trend in the hospitality industry today is the growing reliance on business analytics software applications to better understand, anticipate and respond to customers' concerns (McKnight, 31). The use of business analytics software including predictive analytics that Harrah's has developed an expertise with example is a case in point (McKnight, 30). The ability to find the most profitable customer segments and tailor specific messaging, service offers, and coupons to them is keeping Harrah's profitable despite the recession that is going on right now. This filed of business analytics and predictive intelligence is one that continues to grow rapidly with the need for analysts, managers, directors and vice presidents to continually manage the large amount of data captured and used for creating strategies. In this area specifically there is the opportunity for anyone entering this industry to make a reputation for themselves based on creativity and intelligence. This is perhaps one of the most promising areas of the entire industry due to its proving to be recession-resilient over the last two years.
Conclusion
He two greatest trends that are making an impact on the hospitality industry today are the measuring of service quality and being able...
Hotel Management Strategy Report Style: This report looks at the Australian tourism industry with specific focus on the Gold Coast region and its five-star accommodation services. The paper starts by providing a brief introduction of the current stature of the tourism industry as well as the purpose that this report aims to complete. It then moves on to describe the high and lows of the tourism industry in Gold Coast and gives
Hotel industry is currently in the middle of its economic cycle. The industry tends to be strongly affected by macroeconomic conditions. When the U.S. slipped into recession in 2008-2009, the hotel industry slumped as well. As Turner (2010) notes, "trading volume fell sharply…lodging operating metrics of RevPAR and ADR deteriorated accordingly." While the economy recovery somewhat over the past couple of years, there are signs now that growth is slowing
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The organization mainly focused on analyzing the history of the construction of the building by examining its two main sections, floors, and walls. Cause of the Collapse: Following its extensive and detailed investigations, Walter J. Hickey Associates, Inc. presented a report on the possible cause for the collapse of the hotel. After making computations, it was discovered that the load on the cast iron column from the dead load alone was
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