HM490W Exam 1 Review
What makes the hospitality industry unique?
1. Hospitality as a service industry
Services have become increasingly important in the global economy
More than 70% of GDP of developed countries comes from service industries
Reading: Top 10 Global Trends that will Impact Hospitality in 2015
What are the trends?
1. Growing importance of Millennial Generation
What are millennial? those who reached adulthood after 2000
o Take over baby boomers
HM490W Exam 3 Review
Chapter 5 Strategies in Action
Strategies, objectives; goals, tactics
o Whats the difference?
Objectives and strategies defined
o Long-term objectives represent the results expected form pursuing certain strategies (what)