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The scope of the hospitality industry comprises of a range of businesses that provide services and facilities such as accommodation, food and beverage, entertainment, gaming and related products.
The term “hospitality” has become accepted over the years as a generic word, which describes the well being of services and facilities related to tourists and travellers.
The hospitality industry is represented in every country in the world and is diverse and complex. It encompasses a range of free-standing hospitality businesses and is also a component of a wide range of venues whose primary function is not hospitality.
The hospitality industry consists of broad category of fields within the service industry that includes lodging, restaurants, event planning, theme parks, transportation, cruise line, and additional fields within the tourism industry. The hospitality industry is a several billion dollar industry that mostly depends on the availability of leisure time and disposable income. A hospitality unit such as a restaurant, hotel, or even an amusement park consists of multiple groups such as facility maintenance, direct operations (servers, housekeepers, porters, kitchen workers, bartenders, etc.), management, marketing, and human resources. /Sources: hospitality industry Wikipedia
The hospitality industry covers a wide range of organizations offering food service and accommodation. The hospitality industry is divided into sectors according to the skill-sets required for the work involved. Sectors include accommodation, food and beverage, meeting and events, gaming, entertainment and recreation, tourism services, and visitor information.
Usage rate is an important variable for the hospitality industry. Just as a factory owner would wish to have his or her productive asset in use as much as possible (as opposed to having to pay fixed costs while the factory isn’t producing), so do restaurants, hotels, and theme parks seek to maximize the number of customers they “process”.