Analyses using chain scale and gateway city data, however, reveal that exchange rates strongly influence hotel demand in luxury, upper-upscale, and upscale segments, with a much weaker relationship among lower-price hotels. The exchange rate effect is strongest for upper-price hotels in gateway cities.

Foreign exchange is the trading of different national currencies or units of account. It is important because the exchange rate, the price of one currency in terms of another, helps to determine a nation’s economic health and hence the well-being of all the people residing in it.

When the currency in your country is strong: you can buy much more currency to spend in the country you like to spend your vacation. It can make your travel much more cheaper. your willingness to travel to other countries will increase the revenue of hospitality industry in other countries.

Hospitality businesses that provide customers with a positive experience will reap the benefits of a higher customer retention rate, as opposed to their counterparts who offer a less pleasant experience. Hospitality is also important for businesses because it encourages positive customer reviews.

The hospitality industry does not just pour money into countries’ overall GDP, it is also important for local economies. People taking advantage of the hospitality industry spend money in retail areas, dining and drinking areas, on entrance fees to entertainment venues, and more.

HOTEL. Hospitality Organisation of Tourism activities for Eating and Lodging.

Types of Hotels

• Star Hotels.
• Commercial Hotels.
• Apartment.
• Rotel.
• Floating Hotels.
• Heritage Hotels.
• Resort.
• Motels.

A hotel is a building where people stay, for example on holiday, paying for their rooms and meals. Synonyms: inn, motel, bed and breakfast, guest house More Synonyms of hotel.

What is The Hotel Industry? Put simply, the hotel industry is the section of the service industry that deals with guest accommodation or lodgings. By most definitions, the hotel industry refers not only to hotels, but also to many other forms of overnight accommodation, including hostels, motels, inns and guest houses.

The start of the hotel industry – In France, at the beginning of the fifteenth century, the law required that hotels keep a register. English law also introduced rules for inns at that time. At the same time, around 1500 thermal spas were developed at Carlsbad and Marienbad.

There are many different types of food and beverage service types or procedures, but the major category of the food service is 1) Plate Service, 2) Cart Service, 3) Plater Service, 4) Buffet Service and 5) Family style service.

The hospitality industry is a broad category of fields within the service industry that includes lodging, food and drink service, event planning, theme parks, travel and tourism. It includes hotels, tourism agencies, restaurants and bars.

The Australian and New Zealand Standard Industrial Classification (ANZSIC) categorises the Hospitality sector as encompassing businesses that provide accommodation, food and beverages such as cafes, restaurants and takeaway food services; pubs, taverns and bars; hotels, motels and other accommodation and hospitality …

Do You Have What It Takes to Have a Career in Hospitality?

• High Level of Customer Service.
• Good Communication Skills.
• Formal Training.
• High Levels of Cultural Awareness.
• Have the Ability to Multitask.
• Work Well in a Team.
• Be Flexible.