The Expansion of the Hospitality Industry Part – 2

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Since the first article this series was written, the economic downturn has taken a major tumble. A minor recession has gripped even the hospitality industry that we are in. Fortunately, people who can afford are still flocking to the nearest restaurants and the fine dining industry is looking steady at the moment.

News has it today that hotel values are plummeting. It has fallen a bit as of now, but it’s not quite a global meltdown just yet.

Let’s look at the bright side. Hotels and restaurants are still in on the game. Artificial selection will make sure that the strong will survive. Competition to outdo each other will only benefit the end consumer.

Even Saudi Arabia is compelled to expand commercial freedom in their airlines so they can increase an influx of tourists that will help their hospitality industry. So today, as of this very moment, it is all about an abundance of competition, re-branding, and ultimately, evaluating new strategies.

Asian airlines are beginning to feel a bit of the recession that is why most of them are re-assessing their strategies with international alliances. With a good ally, airlines are opening up to the global market where they can gain a bigger piece of the pie.

Some countries, mainly in South America, are not feeling the pinch of recession as much. Some countries are stable. In fact some places away in the Pacific Islands like Hawaii are so recession proof that Disney is still going through with their crazy Hawaiian resort despite of the downturn.

Kidding aside, the fact that the Indian hospitality industry is still training thousands of manpower for their hotels and restaurants, in order to fill hundred thousands of vacancies annually, makes the outlook in Asia brighter than most. So some Asian hotel and restaurants are really still thriving regardless of the economic recession.

Aside from this fact, Macau is still booming because of the gaming tourism they offer. Similarly, Singapore will be adding a lot of casinos with their “casino liberalization” plans.

It is also proper to note that big hotel conglomerates will open hundreds of new hotels in some cities in China over the coming years. It was said that this expansion would open up thousands of rooms in the greater China pipeline. This pipeline is already the largest in China.

Looking at the economy can be scary sometimes, but we have to face it. Recession is survivable and can even offer lots and lots of opportunities for the brave and the bold. The hospitality industry will survive no matter what, but only the innovators can have the deserved longevity in the business.

Please Note: This is the “Part 2” in a series of articles focusing on the “Expansion of the Hospitality Industry”. Over the weeks that follow you can expect to find further parts published in relation to the expansion.

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