The Hospitality Industry at LARGE.
Often overlooked is how large the hospitality industry really is. We think of big pharma, petroleum, and other such industries as being the driving force of economies. The hospitality industry is big and diverse. Besides, every sector—from accommodation and recreation to travel and entertainment—is constantly changing. As a result, it’s certainly impossible to collect all the hospitality statistics needed to stay abreast of the latest trends. While many business niches are composed of only a handful of different businesses, the hospitality industry applies to nearly any company that deals with customer satisfaction and is focused on meeting leisurely needs rather than basic ones.
- THE FOUR SEGMENTS OF HOSPITALITY
- The food and beverage sector which is professionally known by its initials as F&B is the largest segment of the hospitality industry.
- Travel and tourism deal with services related to moving people from place to place. Buses, cabs, planes, ships, trains and so on are all part of the travel industry.
- Lodging means accommodation for a period or a place to sleep for one or more nights. Fancy hotels, youth hostels, elder hostels, campgrounds, motels and other businesses that provide a place for people to sleep overnight are all in the lodging industry.
- Recreation is any activity that people do for rest, relaxation, and enjoyment. The goal of recreation is to refresh a person’s body and mind. Any business that provides activities for rest, relaxation and enjoyment, to refresh a person’s body and mind is in the recreation business.
HOSPITALITY STATISTICS. CLICK THE IMAGE FOR A COMPREHENSIVE LIST OF STATISTICS.
CHEERS, AND HAVE A HOSPITABLE DAY!