Wednesday, August 14, 2019

Globalization of hospitality industry Essay

A service is an activity which has some element of intangibility associated with it, which involves some interaction with customer. The service is unique component in hospitality which is a universal component with the distinct requirements even in New York or New Delhi. The advent of globalization has created new destinations and opportunities to explore. The new business opportunities like outsourcing business to new regions will provide ample opportunities to the services. Every destination has its won distinct characteristics to deal with. The acceptance of your service depends upon the way the organisation responds in creating the native environment. The important aspects that a guest perceives in hospitality industry are the Ambience, the quality of service, the features on offer. An organisation to internationalize needs a series of factors to look into The custom made services, Location preference, the entry norms and the modes of entry. The more the people move to exploit the business opportunities world wide the more will be the need for services. The hotels and the others related leisure services are essentials for these businessmen moving far. The MNC’s has to know the regions where there is greater movement of population and where there is need to establish the hotel services in view of the international client. The establishment importantly should keep an eye on the local requirements without hurting the native custom. The organizations have to touch a right balance with international quality services with local touch to magnify the uniqueness of the service offered. The new regions will enhance the business proportions, increase the profitability, ease the competitive pressure on the group. The entry norms leverage the hotels group to enter a new destination with ease. The common entry norms are acquisition, jointventures, leasing, franchising and management contracts. The modes enable to retain the clientele base of the target company, helps in understanding the consumer base quickly. The above strategies decrease the settling time as it is more like taking forward the same brand with a new look. Thus the hotel groups should concentrate more on developing strong local brand with international standard. The more you adopt to the market the more will be the returns. Reference: Li Wei, Integration and globalization of hotel industry, viewed on Jan 26, 2007 available at http://fld. dlut. edu. cn/TeachAndReasch/TR_disp. asp? id=220

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