Cyber Week Sale | Up To 60% Off | Grab the offer

Business In Hospitality Industry Services You Should Know It

By Rajib Hasan -- Tuesday, 15 Nov, 2022
business in hospitality industry

The hospitality industry has many fields, including food and beverage, lodging, travel and tourism, theme parks, event planning, and others. According to the Cambridge Business English Dictionary (CBED), the hospitality industry means hotel and food service. History tells us hospitality service was started around 40 BC when hospitality services for religious and social gatherings were quite common. Indeed, hospitality has taken a leading part and has become widespread. However, keep your focus on this section to know more about the business in hospitality industry services that you should know it.    

What is Business in the Hospitality Industry?

Hospitality started the journey many decades ago. From then peoples are more familiar with hospitality around the world. Nowadays it has been converted into an industry and called on the hospitality industry. Many hospitality business industries have been made due to providing their service. On the other hand travel and tourism industry has been related to the hospitality industry. It is noted that travel and tourism are part of hospitality. Hospitality and tourism are rapidly increasing. In this case, tourist places or historical places have been major profitable zone. Nowadays many countries have taken it as the first revenue-earning source.

What is Customer Service in a Hospitality Business?

There are different sectors made around hospitality and tourism. Let’s discuss which sectors have been made around the hospitality and tourism business.

  • Tourist guidance business
  • Photographic business
  • Coffee shop
  • Traveling
  • Restaurant service

Tourist guidance business

Tourism included hospitality. This business can be started without more cost. There is one thing, if you would like to shine in this business then you must know the multi-language like English, Spanish, Chinese, etc. It is because many foreign people come to tourist places if you wish to attract and handle them then you should know their language.

Another thing is that where you want to do this business you should know well about such location. It is because if any tourist expects your guidance then you can guide them as well. For this reason, you may have a chance to build a better relationship with them. It is noted that you should remember as a tourist guide, you should stay in a place where you can easily receive tourists people.

Photographic business

The photography business is a part of the hospitality business. The photographic business is a low-investment business. If you have an interest in photography or if you become a professional photographer then you can easily start this business with a minimal investment. The necessity of a good photographer is more to take the joyful moments of the tourist people. You can be involved with any tourism industry and you can also start it alone.

Coffee shop

Are you looking for a coffee shop business? The coffee shop is a popular business for any tourist place. You can make a coffee shop beside any populous place with low investment. Location is a major factor majority of a successful business depends on the location. Most people love to take coffee so it can be a good sign of hospitality.  

Traveling

Travelling is one of the major parts of hospitality. Traveling is a beneficial business for the tourism sector. If travelers come to any sea beach then they may have needed a sea bike, speed boat, and another vehicle. You can arrange such a vehicle for tourist people. In this case, placed your business platform in such an area where it becomes appears easy to some other else. This traveling service is also a good sign of hospitality.

Restaurant service

Restaurant is another crucial part of the hospitality business. Most of the tourists like to eat traditional food based in the tourist area. You can make famous food based on the tourist area and you can emphasize it. In this case, you can offer a bit of privilege for the tourist's people. It is noted that the right place selection and a better business plan can bring your business to a supreme level and you can start a business with minimal cost. Indeed there are different types of restaurant businesses but we have referred to an example around the tourist area.  

Hotel and Hospitality Management

Hotel and hospitality management

The hospitality industry has been a primary driver of economic growth in the past few decades. The industry is expected to grow at more than 3.5% annually, generating more than $2.5 billion by 2022. Hospitality and tourism are service industries traditionally dominated by small- and medium-sized enterprises (SMEs). In recent years, however, the industry has seen an increase in large international hotel chains and companies investing heavily in the industry.

The hospitality and tourism business is one of the most competitive industries in the world, with intense competition from other countries such as China, which has been investing heavily in this sector too. A hospitality business is a business that provides lodging and other hospitality services to customers. The industry includes hotels, motels, resorts, bed and breakfasts, inns, hostels, vacation rentals, and many more.

Hotel and hospitality management is a field of study in the hospitality industry. It focuses on the management of hotels and other types of lodging facilities. Students study topics like marketing strategies for tourism industries and how to effectively manage customer relations in the hotel industry.

Operations Management in Tourism and Hospitality Industry

Operations management in tourism and hospitality industry is a process of managing the operations of a business or organization. It includes planning, organizing, staffing, directing, and controlling an organization's resources to meet customer needs. Operations management in the tourism and hospitality industry is one of the most challenging areas for managers. It is necessary to manage the operations efficiently to provide better services and products to customers.

The sectors of tourism and hospitality industry is one of the most dynamic industries in the world. It is constantly evolving and changing, making it challenging to manage. Four main aspects can characterize operations management in this industry:

  • Designing
  • Organizing
  • Controlling
  • Improving

These four aspects are responsible for optimizing the organization's resources and maximizing profits. The critical responsibility of operations management in this industry is to maximize the company's profitability through efficiently utilizing resources like time, space, and money.

Types of Hospitality Businesses

Types of hospitality businesses

We have said before that the hospitality industry covers different services that we referred to. It can be divided into several other sectors, but we will discuss five main hospitality sectors.

However, take a look at the top business in hospitality industry services:

  • Food and beverage industry
  • Travel and tourism industry
  • Lodging industry
  • Meetings and events 
  • Recreation Industry

Food and beverage industry

The food and beverage industry consists of several parts, such as food preparation, food ordering and handling, food delivery system, food serving, and others. The essential function of such industries is to satisfy the customer by offering or serving their food. Such restaurants probably have low-cost dining options so that low-budget customers can quickly get their food. It is noted that fast food restaurant is not considered hospitality.

Travel and tourism industry

The travel and tourism industry is another crucial sector. Indeed tourism industry is directly related to hospitality, such as restaurant and hospitality facilities, accommodation, airline transportation, travel agent, and many more. However, the travel industry is interrelated with the tourism industry, which is sometimes called the travel industry. Indeed travel and tourism industry is the largest sector of the hospitality industry.

The travel and tourism industry generally allows people to visit historic places worldwide. Travel and tourism may be directly related to the hospitality industry. It is because those who are travel-thirsty people think to stay somewhere and reserve a hotel by using their hotel reservation system for a few days, get meals, room servicing orders, business meetings, and many more. Due to these common reasons, travel and tourism are nearly related to the hospitality industry.

Lodging industry

The lodging industry is mainly a business that offers overnight accommodation. Whatever you want lodging industry provides such accommodation services. So lodging industry service depends on customer demand. The lodging industry can serve from one to a hundred people or more. The lodging industry is related to the hospitality industry.

Meetings and events 

Meetings and event is the part of the hospitality industry. This event ranges from something like a marriage to an event on a wide scale. Meetings and events are excellent sources to earn revenue. That's why people have emphasized them. Meetings and events directly rely on the hospitality industry.

Recreation

It means entertainment where people come to spend their spare time, get amusement, and relax. The goal of recreation is for enjoyment and to keep a fresh mind. The entertainment industry depends on entertaining thirsty people. However, the entertainment business includes theaters and cinemas and attracts some other beautiful places like zoos, museums, historical gardens, etc.

How to Start a Business in Hospitality Industry?

Starting a business in the hospitality industry is not as easy as one might think. There are many things to consider, such as the location and type of the company, the amount of money you want to invest, etc. In this article, I will try to provide some tips on how to start a business in hospitality industry.

Location:

The location of your business is significant because it will affect your decision on where you will be sourcing your supplies and what kind of people you will be dealing with. If you are planning on opening a restaurant, it would be best if you opened it in an area where there are many restaurants so that there is competition.

Business type:

Your business type also matters because this will determine what kind of staff you need and what type of equipment you need to buy. For example, if you have opened a restaurant, you would need chefs and waiters, but if it's just a coffee shop.

There is a lot of competition in this industry, so it's essential to have a plan before starting.

  • It's important to have a plan and know your target audience before starting.
  • The first step is to identify what type of business you want to start.
  • Do you want to start an online store, restaurant, hotel, or something else?
  • If you plan to open a restaurant, you will need a location and space for the kitchen.
  • If you plan to open an online store, you will need a website and marketing strategy.
  • If you are planning on opening a hotel, then there is still some more work that needs to be done: finding investors, getting permits and licenses, etc.

What Businesses Make Up the Hospitality Industry?

What businesses make up the hospitality industry

The hospitality industry is a large and diverse sector. It includes everything from hotels to restaurants to catering companies. It also includes the staff that works in these businesses, such as waiters, chefs, and hotel managers. The hospitality industry is a large and diverse sector. It includes everything from hotels to restaurants to catering companies. It also includes the staff that works in these businesses, such as waiters, chefs, and hotel managers.

The hospitality industry is a broad term that includes many industries with different specialties. The hospitality industry is a field of business that provides services to the public. These services include hotel stays, restaurant food, concierge service, and even tourism. The hospitality industry comprises many businesses, including hotels, restaurants, resorts, cruise ships, and tourist attractions.

What are the Main Business Sectors in the Hospitality Industry?

The hospitality industry is overgrowing. There is no doubt that the hospitality industry has seen unprecedented growth over the years. The industry has experienced a historic boom driven by increased consumer purchasing power, a strong global economy, and digital innovation. Although the current pandemic may cause a major setback for the industry, it is expected to recover and maintain its growth trajectory over the next few years.

The hospitality industry is expected to grow as technology develops and management skills improve. The need for time requires companies operating in this space to embrace and adopt these technological changes and strategize accordingly so that they can keep pace with the rest of the world.

Who are the Customers in the Hospitality Industry?

Those who are a tourist are the type of customers for hotels or travel agencies. Basically, tourists look for better or more comfort and something to spend their leisure time through amusement. However, the guest wishes to find the essence of the destination in a simple way so that visits will be key. Today we are facing a highly competitive landscape. Compared to the business in hospitality industry services the competitor has increased, and the service process has also changed. Indeed all people are not counted in the hospitality industry. A few categories are considered customers in the hospitality industry. Let's see which customers are considered in the hospitality industry.

  • Tourist
  • Travelers
  • Family
  • Business
  • Luxury
  • Eco-friendly
  • Sports

Final Words

Hotels and restaurants are two of the most common businesses in the hospitality industry. The most well-known type of hospitality industry is the hotel and lodging industry. Hotels offer tourists more than a place to sleep. They create a friendly atmosphere while at the same time paying attention to the needs of their clients. Statistics show that the business in hospitality industry services is expected to grow by 5% to 6% by the end of 2018, further adding to the high demand for employees with hospitality education and skills.

On the other hand, hotels are the most common and well-known type of business in the lodging industry. Hotels are generally geared towards leisure and business travelers and offer guests the option of renting individual rooms for specific periods.