Industry trend

TREND

A pattern of gradual change in a condition, output, or process

INDUSTRY TREND

Are patterns that occur within a specific industry

These trends may relate to price, cost, manufacturing, consumer purchasing, sales methodology, or any number of areas

HOTEL AND RESTAURANT

INDUSTRY

HOTEL(S)

is an establishment that provides lodging paid on a short-term basis.

Offer two types of services:1. Accommodation

2. Dining services

Classifications:

1. Deluxe

Classifications:

2. First Class

Classifications:

3. Standard

Classifications:

4. Economy

FUNCTION ROOMS

BALLROOMS

HEALTH SPA

COFFEE SHOPS

GIFT SHOPS

NIGHT CLUBS

Customers of hotels:

Local customers

Foreign visitors

Institutional buyers

Barriers to entry:

Economies of Scale - The cost advantage that arises with increased output of a product. 

Differentiation

RESTAURANT(S)

- is a business establishment which prepares and serves food and drink to customers

- is relatively easy to get in

- Marketing strategies include: price coupons, discounts, and gift items

- Most important factor: CUSTOMER SERVICE!

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