The Trend Toward Internationalization of the Hotel and Restaurant Industry
I understand that the hotel and restaurant industry is diverse and involves many activities, including but not limited to accommodation, bar, inn, tour, and travel agents. The article by Revfine nevertheless presents information about how, over the years, the hotel and restaurant industry has made a tremendous step towards internationalization. One such trend that is impartially typical across the industry is the introduction of smart hotels. As described by Revfine, the smart hotel is a hotel that makes use of the internet-connected devices that can interact or communicate with one another. The capability of the internet-enabled devices to communicate allows an individual or the primary user to control multiple devices from a central control point. Several international hotels, such as Marriot and Hilton, are already committed to implementing smart hotel technology. For instance, Hilton introduces the idea of a connected rooms platform to create a new customer experience and, at the same time, improve operational efficiency.
One of the apparent reasons why international hotels are prioritizing the idea of the smart hotel is probably not just to enhance customer experiences, but also to ensure the hotel save on operation cost. I believe that an increase inspired the concept of the smart hotel in global traveling, and travelers expect to have an experience that is ideally better than typical home experience. Additionally, smart hotels allow the customers to quickly get access to access information about the services offered and the availability of the hotel for booking. It is essential to recognize the coronavirus pandemic has resulted in an unprecedented level of risk and uncertainty. Therefore, it will be significant for hoteliers to rethink and re-adjust their strategies towards creating smart hotels. Keeping up with this latest trend allows hotels and restaurants to remain competitive and, at the same time, avoid being left behind.
- “Smart hotel: What are the benefits for hotel owners and guests?” com, 7 Feb. 2020, www.revfine.com/smart-hotel/.
The Relationship of Travel in the International Hotel and Restaurant Industry
Just like many other sectors, the hotel and restaurant industry has many business niches. One such segment that is important to understand is the travel sectors. The article written by Deloitteeditor talks about how, in recent years, the global travel industry has experienced increased booking. The data collected by Deloitteeditor indicates that the worldwide travel industry obtained gross booking amounting to $1.6 trillion in 2017 alone. Besides, the author emphasizes that the strengthening of the global economy depends on the growth of the travel industry. Several forces within the hotel and restaurant industry shape how consumer spending leading to increased business travel demand.
I believe that before the coronavirus pandemic, the hotel and restaurant industry had experienced a strong performance. Additionally, the expert had projected that it would continue experiencing sustainable growth of about 5% to 6% for the next couple of years. This trend allows hoteliers to travel around the country or even the globe looking for new opportunities in the strategic regions. As established by Deloitteeditor, Americans spend close to 44% of their food budget eating in hotels and restaurants. Most individuals take trips and travel to various hotels to have a different experience.
Consequently, travel tours and hotels are seeking partnerships to allow consumers to meet their experience. From this description, I feel that the growth of the travel industry directly impacts the growth of the hotel and restaurant industry. If the traveling price becomes affordable, it means that people will be able to travel and pay for their holiday in some of the exotic hotels across the globe—this present opportunity for further growth of the hotel and restaurant industry, which is an already lucrative sector.
Work Cited
- “Now Boarding: The Future of the Travel, Hospitality Industry.” 21 Feb. 2018, deloitte.wsj.com/cmo/2018/02/21/2018-travel-and-hospitality-industry-outlook/.