Changing Definitions & Old World Hospitality (20 points) As discussed in class,

Question

Changing Definitions & Old World Hospitality (20 points) As discussed in class, the definition of hospitality is changing. Do you think that this is compatible with the interest in Old World Hospitality experiences? Why or why not? Where do the two concepts diverge if you disagree and where do they converge if you agree? Expectation: It is expected that your answer will be approximately 500 words in length (one page, single spaced, 12 point font) and will use a minimum of 3 cited sources. Please be sure to use in-text citations and include a reference list at the end of the question.

Explanation / Answer

Answer --Yes, it is very significant for any economy. It is a service industry and there are many other industries such as food and beverages, local retail industries, among the others that are dependent upon the hospitality industry. It also creates employment opportunities at the local level. Besides, it promotes travel and tourism and it brings a huge amount of forex that is used to pay the bills of import. So, it keeps economy and its balance of trade in balance and these aspects are very important for the economy. Many economies, more specifically Caribbean economies thrive on travel and tourism industries. Therefore, the hospitality industry is very important.
2.
Issues to impact hospitality industry will be the value based services, convenience, pricing and overall package on offer. A marketing strategy will create different segments and target them with customized offerings.
Value based services and consumer value proposition will impact the marketing strategies in the coming decade people want best of the services irrespective of the prices. Whoever delivers value, will hold the customers with them. Thus, marketing strategies will focus on targeted communication that build superior value proposition among the target segments.
3.
For airline industry:
The first driving force will be the connectivity and network of flights that can help customers to frequently move from one place to another place. People will opt for such airlines. The second driving force is the quality delivery of services. It will help in customer retention as well as market share will consolidate. The third driving force will be the economic policies of the government. A favorable policy will help reduce the cost and pass it on to the consumers with lower prices. The fourth driving force will be the building of new infrastructure such as new airports and modernization and expansion of existing airports. The fifth driving force is the technological advancements that deliver airplanes with the safety features of the highest level, big size and many different features of comfort. Besides, connecting smaller cities with airport will also help in the growth of the airline industry.

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