Hospitality
The act of being welcoming, friendly, and generous toward guests to create a positive experience
Hospitality Industry
Businesses providing accommodations, dining, and services for travelers and guests
Service vs. Hospitality
service - delivery of product
Hospitality - How the guest feels during the experience
Umbrella Industry
Hospitality includes multiple interrelated segments serving guests across the travel journey
Industry Segments
Include - Travel, lodging, food service, events, attractions, and recreation.
Interdependency
Industry segments rely on one another to create the full guest experience
Diversification
expansion into related services to enhance guest offerings
Leading
Influencing others toward achieving a shared vision
Managing
Achieving organizational objectives through structured processes
Management Levels
Frontline - (entry level, managing line employees)
Middle - (Department heads, short to medium planning, manages frontline managers)
Senior - (Medium to long range planning)
Leadership vs. Management
Leadership - inspires changes
Management - Manages and maintains systems
Transformational vs. Transactional Leadership
Transactional - using behaviors or rewards to bring about actions in others.
Transformational - Gives better performance than others and inspires others to give their best as well.
Kouzes and Posner Practices
There are 5
1. Challenge the process
2. Inspire a shared vision
3. Enable others to act
4. Model the way
5. Encourage the heart
Marketing
Long-term, guest-focused, value creation
Sales
Short term revenue conversion
Environmental Scanning
Involves SWOT and PEST analysis
Marketing Mix
Product, Price, Place, Promotion
Strategic Planning
Long-term Mission and Direction
Ansoff Matrix
Market Penetration, Market Development, Product Development, and Diversification
Operational Objectives
Specific and measurable action statements
Management by Objectives
Sets of organizational Goals and Clear ways to achieve them
benchmarking
The best way of doing something and which companies excel in that area
Policies, Procedures and Rules
Policies - Broad Guidelines for associates to use when making decisions
Procedures - Specifically what to do in a given situation.
Rule - Very specific action guide that must be followed
Budgeting
A plan allocating money to specific activites