The Modern Evolution of the Hospitality Industry free essay sample

The Modern Evolution of the Hospitality Industry Over the past thirty years, the hotel and restaurant industries have evolved at a rapid rate, with the hotel industry coming to maturity before its less capitalized cousin. Hotels use a wide range of data analytics to set rate, staffing levels, connect with their customers, and bring that unique attention required to obtain repeat customers.Restaurants behave more like hotels did before the 1990’s; by relying on their staff to remember regular customer’s habits, by not differentiating their most profitable customers from least profitable, and by making decisions without the guidance of advanced data. In the early 1990’s the US hotel industry was practically decimated. A change in theaccounting rules during the 1980’s created too many rooms for the market to absorb, and the Savings and Loan crisis almost destroyed the industry. Many profitable chains went out of business, and some small operators were bought out at bargain prices. We will write a custom essay sample on The Modern Evolution of the Hospitality Industry or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Business intelligence went from being an unlikely expense to becoming an essential unit for hotel companies. The industry is still evolving today; innovative hotel companies are using these techniques in their food and beverage operations, function spaces, and spa services. Business evolution is inevitable, but it takes a major change in operating climate for most owners to recognize the need to change. That change occurred with the economic meltdown of 2008, and the ‘V’ shape recovery that many of us hoped for did not occur. Consumers are trading full service meals for quick service establishments (i. e.Panera), and corporate customers are rarely buying private dining spaces, cutting into restaurateur’s already slim profit margin. Hospitality Enhanced was created with this paradigm shift in mind. We offer a Business Intelligence unit for hire, taking your data and turning it into something you can use to make decisions. We train you and your key staff in the concepts of data mining, and for more advanced users, even set you up to use these tools without us. We recognize that every profitable restaurant business will be adding these services over the next few years, so our client’s self-sufficiency is very important. We are a collaborative organization with very few fixed costs, and most of the software we use isOpen Source. We embrace this unique, new operating environment, and strive to increase our client’s margin. Evolution is inevitable, embrace it, or source out the expertise of those who do. Data is the new oil; it’s time to start using yours to increase profitability. Hospitality Hospitality is the way of treating people in the way you want yourself to be treated. Hotels are called home away from home because its the only place where we get food ; accommodation, provided all luxuries and comfort.These days we can easily get hospitality in retail outlets hotels hospitals and offices and competition is so high that everyone wants to attract customer by one mean or other. The hospitality also increases profit and reputation of the hotel. it also provide handsome amount of revenue and give name and fame to the hote In ancient times, when wheel was not discovered since then people use to travel by walking, the cover long distance at that time sine then the concept of hospitality was there but was no interest of money or any economic profit travellers use to stay in homes of villagers then slowly inns were accruable but in very low rent.Origin of hotels In medieval Europe monasteries rationally offered hospitality to the travellers. The main aim in offering hospitality was for pilgrims as monasteries were found at the site of holy place in early stage. In early Europe inns, they were especially designed as profit making business it was the first commercial Venter in hotel keeping. Usually there were public rooms like restaurant where merchants could sit and discuss business. Hotel keeping has also influenced mode of transport, with advent of railways ca me tation hotels, and with aircraft came airport hotels, with motorways and extensive road travel like motels, boatels and ship bought floating hotels into existence. Hotel industry has followed path of travellers from time they travel. Therefore came the resthouse, inns and monasteries. Inn keeping is believed to be started in 1200 years age. in1650 Mr. Pascal opened cafe in Paris and coffee house in London. During industrial revolution 1750-1820 English inns were considered finest in the world. Hotel de Henry was one of the 1st European hotels built in 1788 with capacity of 60 rooms. Growth of hotel inns took place with concept of family hotels i. e run by the families were called mom ; pop in England. Termand house was 1st class hotel made in Boston 1829 it provided private guest room, door with lock, free soap bellboy service. It is called Adam and eve of modern hotel industry. Mr. Ellsworth M Statler started new chain and made his first hotel buffalo statler on 18 Jan 1908. He gave a slogan room and a bath for a dollar and a half. In 1950, new concept as motels, boatels, and floatels rotels were built. 960 many individuals owners merge themselves with large chain such as Sheraton, Hilton, Hyatt, holiday inn for franchising by paying a fee and then they can use the name, reservation system national and international advertisement and operational manuals. In 1970 the hotel industry experienced the start of construction boom, and since then the hotel industry is progressing day by day. International business is rapidly developing and with this lot of business executive is travelling out; modern hotels are developing as per the needs and wants of tourist and business class guest.