BUT, there are also some positives. Growth of casinos and other gambling facilities can encourage not only the tourists to part with their cash, but also the local population. websites forces hotels to remain competitive. This can help to promote/ preserve local traditions. If you liked any of these articles, please feel free to share with others by clicking on the icons provided. These might include; preserving the local culture and heritage; strengthening communities; provision of social services; commercialisation of culture and art; revitalisation of customs and art forms and the preservation of heritage. Perhaps they have been introduced to alcohol through the tourism industry or they have become resentful of rich tourists and turned to crime. Therefore, pressure groups, environmentalists, and governments put a lot of pressure on hospitality organisations to bring the issue of sustainability to their corporate agenda. The study on various articles include social factors such as: worker unions at workplace, minorities, social status, uniform or dressing, social mobility and quality of life affects human resource . Many governments are also offering tax deductions to the hotel industry in order to boost their economy. Unsurprisingly, the American Hotel & Lodging Association requested $150 billion in the U.S. government relief. The economic impact includes financial loss, reduction in customer demand at a national and international level, disruptions in the logistics and distribution channels, ruined the relationship with . Hotel Hilton can better formulate a strategy which could convert potential threats into new opportunities This PESTLE analysis of the hotel industry should provide you a clear look into the hotel industry and how it performs globally. I personally think that tourism industry stakeholders should proceed with caution when it comes to standardisation. And this is a normal part of evolution! sharing news thanks to the internet. Whether it comes out successfully depends on a few primary factors, including This article shares his insights into the impact of coronavirus on the hotel and leisure market, together with views discussed at the conference. Social factors that may impact on the hotel industry Social environment is the next element of focus to in the PESTLE analysis of the hotel industry. I know I miss seeing the little independent shops that used to fill the high streets in the UK. Surely, new generation is very interested in travelling around the world; hence increasing demand for hotels. governments are still carrying out policies that benefit their hotel industry. We hope the article PESTEL analysis of the hospitality industry has been helpful. Uncategorized. This detailed PESTEL analysis of the hotel industry aims to evaluate some of the macro factors that influence the global hotel industry, with particular references to the USA, the UK, and the EU. Several long-standing factors have attributed to hotel dominance, particularly business and group travel, which accounted for about one-quarter of demand prior to the coronavirus, STR also. Museums, shows and galleries are fantastic way to showcase the local customs and traditions of a destination. The impact of politics upon the hospitality and tourism sector is dramatic. But I would argue is this not natural? The hotel industry is a subdivision of the hospitality industry. 2023 Dr Hayley Stainton, all rights reserved. States will want to visit. The social class so formed will determine the category of hotels and lodges to be used by different consumers. Similarly, destinations risk standardisation in the process of satisfying tourists desires for familiar facilities and experiences. Much of the technology, such as apps, third-party ordering, and direct online ordering, has been used for several years. These steps can help you get back, Copyright 2020 Weberience LLC. Years ago, hotels only used traditional media (print and broadcast), but now there are new media brought forth via the internet to consider. Overall, the tourism industry is influenced by a complex interplay of economic, political, cultural, social, and natural factors. Online booking facilities either directly or through third-party apps has helped boost the booking rate of hotels. Did you know that you should never put your back to a Buddha? The Social environment is the next element of focus to in the PESTLE analysis of the hotel industry. And globalisation helps us to get that! He is a lecturer in Management and Marketing. Tourism can be a catalyst for strengthening a local community. Authenticity is essentially something that is original or unchanged. This study explores the interplay between public measures adopted by the U.S. government to combat COVID-19 and the performance of the American hospitality industry. Some destinations will encourage local cultures and arts to be revitalised. Everyone wants to stay somewhere safe. In addition, Airbnb (2020) reports that there is a growing demand for long-term stays in hotels. It employed 3.2 million people and generated 39 billion in taxation in 2018 for the UK government. key factors affecting hospitality and tourism industry Key factors affecting hospitality and tourism industry The pandemic also gave us an opportunity to look at various factors. Leave your comments below. Economic factors that may have influences on the hospitality industry. Culture clashes can also be exasperated by the fundamental differences in culture between the hosts and the tourists. Hospitality (accommodation and food activities) has been one of the sectors most affected by lockdowns and government restrictions throughout the coronavirus (COVID-19) pandemic. Social factors that may have influences on the hospitality industry. But a recent factor that has posed as a threat to this industry is terrorist Social factors affecting Argentina Demography. Travel and Tourism can also affect the rights of human beings in an area. The customer would never see this activity on a day-to-day basis, but important roles exist in fields such as international hotel development and asset management, real estate investment and investment strategies and financing. The Say's Law. The hotel laws among others. on blogs can make or break a hotels reputation. could hurt the tourism and hotel industry immediately. As I have demonstrated in this post, there are many social impacts of tourism. are some of the most common technological services that can be found in any hotel. Perhaps they have changed the way that they speak or the way that they dress. Hopefully, this PESTLE Analysis of Hospitality Industry. Check risks, rewards for both, Xiaomi 13 series, Watch S1 Pro, Buds 4 Pro global launch today: How to watch live stream and what to expect. bans can kill the hotel and tourism industry. Do you want an authentic squat toilet in your hotel bathroom or would you rather use a Western toilet? This analysis will assess the impact of the political, economic, social, technological, and legal factors on the industry. Similarly on one side these factors push the tourism industry in the short and long run positively and negatively while on the other side affect the economic growth of the global Our General Mills SWOT Analysis examines internal and external factors that impact the company's operations, What is root cause analysis, the goal, and why is it important? decision and a country loses the vast majority of its economy. Globalisation is inevitable in the tourism industry because of the interaction between tourists and hosts, which typically come from different geographic and cultural backgrounds. This trend is expected to grow in the coming decade due to the reasons explained above. Lastly, gambling is a common occurrence as a result of tourism. Where tourism has grown exponentially many different positive and negative impacts have been noted, and the greater the dependence on tourism the community has, the more inclined locals and the local tourist industry are to change local traditions and lifestyles to adapt to tourists' needs. For example, if international Similarly, technology is used to collect the guest feedback and some hotels have already automated guest interactions throughout their stay. Sure, I like Starbucks (my mug collection is coming on quite nicely! This often contributes to the conservation and sustainable management of natural resources, the protection of local heritage, and a renaissance of indigenous cultures, cultural arts and crafts. In most cases, the innkeeper law will state how much compensation the innkeeper will pay guests if their property is stolen or damaged. These children would never have eaten such sweets should they not have come into contact with the tourists. These social impacts can be seen as benefits or costs (good or bad). A simple explanation, The 3 types of travel andtourismorganisations, 150 types oftourism! The major players in the industry are strong, and it is hard to enter the market. Aside from the economic impacts created by enhanced employment prospects, people with jobs are happier and more social than those without a disposable income. It is for this reason that many destinations will make every effort to preserve its heritage. Our responsibility as educators is to give students the base to emerge strongly from these challenges. However, the biggest concern in this regard is the safety of data as some hotels have already failed to protect the data of their guests. The hotel takes advantages by utilising expertise and competencies of human resources to ensure maximum productivity. 2. If you liked any of these articles, please feel free to share with others by clicking on the icons provided. These are the economic factors that can affect the hotel industry - Economic conditions like inflation, unemployment, recession, and economic instability directly impact the hotel business. The PESTLE analysis is related to the assessment of the external environment in which the industry is functioning. The Western world believe that a tourist destination is no longer authentic when their cultural values and traditions change. Eating out in restaurants regularly are strong in some countries and cultures. SiteMinder's Hotel Booking Trends for 2023 . to patrons in varying locations. Read also: Environmental impacts of tourism. Specialists in providing advice and services to the hotel industry. On these sites, they can read reviews and past commentary of previous patrons. Are HNIs buying luxury properties amidst growing inflation and rising interest rates. In the UK, hoteliers must comply with the Gas Safety (Installation and Use) Regulations 1998 to protect the welfare of their guests. room. I think there is also an ethical discussion to be had here, but Ill leave that for another day. Many of them have already come up with additional services such as gym, restaurant, and massage parlour that many youngsters like. Unfortunately, there are a large number of socio-cultural costs on the host communities. Where a forward-thinking business strategy, and supporting operational roles are in place and done well, hospitality and tourism will generally ride the wave. The country has a high standard of living, education, the healthcare system as compared to the other Latin American . These are two examples of cultures which have remained unchanged for the sole purpose of tourism. Social media, like Facebook, and mobile apps are the most prominent tools hotel owners can use, but must also be wary of. Just a little something to think about. This is common in the hospitality industry. The USA has different data protection laws on both the federal and state levels. for hotels who often see a hike in profit during peak seasons when rooms are to find a different hotel would be the only option, but now you can check For instance, regulation of business, real estate development initiatives, taxation policies, and preservation of cultural and historic monuments are some of them (BHR, 2021). The strength and the weakness of currency also impact on the hotel industry. However, some social factors impact on the hospitality industry badly. range of service sectors. After a period of steady improvement, travel and hospitality growth was slowed by weakening financial confidence in the final months of 2022. Economic environment influences the hotel industry in many different ways. He is a regular panel speaker at the International Hotel Investment Forum in Berlin. Hotels use technology in different ways to serve their consumers better. demand. exchange rates are another economic factor that affects the ability of foreign This can provide a great boost to their quality of life and is a great example of a positive social impact of tourism. Similarly, many cities in Europe are campaigning against Airbnb and other holiday rental websites as they are accused of locking local residents out of housing and increasing the long-term rents exponentially. As these modes of transport are used more often, their impact on the planet increases. In one way, this is great! However, most of the world is now free for travelers and thus the hotel industry is facing a massive boom. He holds an MSc in Tourism & Hospitality from the University of Sunderland. Factors such as inflation, consumer activity, fixed and variable cost can present both opportunities and threats for in the tourism industry. Environmental factors that may impact on the hotel industry. identification before allowing a guest to use their facilities. stay at a certain hotel. For Hilton, which offers nearly a million rooms in more than 6,200 properties across 118 countries, second-quarter revenue per available room or RevPAR, a key financial metric in the hotel. but it also helps travelers within a country. Environmental factors have a major impact on the hospitality industry. But at the same time, they also lead to a higher demand for budget hotels thereby increasing certain verticals of this industry. Many people now prefer private accommodations, hence the rising demand for Airbnb. Uncertainty avoidance. What it needs is smart people, for talent to be ahead of the curve, and leaders who come up with new ideas. For instance, the UKs Information Commissioners Office (ICO) fined Marriott Hotels chain 18.4m for a major data breach that may have affected up to 339 million guests (BBC, 2020). Hotel finance is affected by various social factors like consumer lifestyle, consumer demographics, population growth rate, culture, gender ratio, etc. Since this industry uses a Legal environment is the last topic of discussion in the PESTEL analysis of the hospitality industry. A large part of this industry is composed of luxury hotels. This is often an example of careful tourism planningand sustainable tourism management. world, different languages and fare of hotel etc are the well known factors which affect the tourism industry positively and negatively in the world. weaknesses, opportunities, and threats this industry faces, read our SWOT Because of social media, the news is available and updated 24/7. A large part of this industry is composed of luxury hotels. These might include; preserving the local culture and heritage; strengthening communities; provision of social services; commercialisation of culture and art; revitalisation of customs and art forms and the preservation of heritage. The last of the social impacts of tourism that I will discuss is crime, gambling and moral behaviour. You can quickly Likewise, many people work in the industry for a short period and then move to another, creating high labour turnover for many hospitality organisations. Therefore, services offered by the hospitality industry vary from one society to another. We are losing our individuality and gaining a sense of global being, whereby we are more and more alike than ever before. Is it right to go topless on a beach if within the local culture it is unacceptable to show even your shoulders? Learn about CSR in the hospitality industry and explore its . Another thing the government controls are taxes. Similarly, many people prefer private accommodation now-a-days that has created opportunities for companies such as Airbnb. This is a good and bad The strength and weakness of currency can Likewise, the same also goes with going on holidays abroad every year. Tourism can see rise to many commercial business, which can be a positive social impact of tourism. Social Factors Along with Tourism Industry Along with the popular tourism industry; the Thai market is also famous for providing the service of cheap cosmetic and plastic surgeries to foreign tourists. Service in the hospitality industry holds the key. to its influence. travelers to employ hotel services. Guests will appreciate offers tailored to them, which will encourage them to come back again in the future. The presence of a large number of tourists with a lot of money to spend and often carrying valuables such as cameras and jewellery increases the attraction for criminals and brings with it activities like robbery and drug dealing. Tourist like some things to be standardised (the toilet, their breakfast, their drinks, the language spoken etc), but others to be different (dinner options, music, weather, tourist attractions etc). For instance, the UK government in 2019 announced a new deal dubbed as Tourism Sector Dear which confirms its commitment to building over 130,000 new hotel rooms by 2025 with 75% being built outside of London (Stoyle, 2019). Consumer preference is changing rapidly. Hotel guests stay in hotels for a variety of Factors Affecting Sales in the Leather Industry. For Centara Hotels & Resorts, Thailand's leading hotel operator, this balance is at the core of its strategic vision. They appear not to have changed the way that they dress, they way that they speak or the way that they act in generations, all for the purpose of tourism. It goes through economic cycles first and comes out first. Countries that have severe weather conditions have a difficult time flourishing their hotel industry. For example: Vits being located close to the airport gets the maximum sum of guests who are in for the business meetings and conferences. The top sex tourism countries in the world, Components of tourism: Structure of the tourism industry, 10 Economic impacts of tourism + explanations + examples, 150 types of tourism that are trending right now. If you enjoyed this article on the social impacts of tourism, I am sure that you will love these too-. massage parlors. Because tourism involves movement of people to different geographical locations cultural clashes can take place as a result of differences in cultures, ethnic and religious groups, values, lifestyles, languages and levels of prosperity. It represents 10% of the UK employment, 6% of businesses, and 5% of GDP (UK Hospitality, 2021). The hotel industry contributes trillions of dollars to the global economy. PESTEL analysis of the hospitality industry. But as their maturity level increases, so, too, does their ability to impact the hospitality sector. Copyright 2017 2025. Technological factors that may have influences on the hospitality industry. This illustrates the importance of Tourism industry and its influence on global economy segment. BUT, I cant help but wonder if this is always natural? For instance, if the U.S. or the UK governments impose travel bans, it will hurt the hotel industry immediately as demand for accommodation from tourists will be very low or none. In this article PESTLE Analysis of the Hotel Industry. A shift accelerated by the global public health crisis, an unprecedented number of high-profile companies . Technological factors that may impact on the hotel industry. Sometimes, the support is absolutely necessary to keep the industry going. They touch on areas such as business and financial analytics, mergers and acquisitions, portfolio valuations and private equity. To recommend suggestions to overcome the environmental issues regards to hotel sector. and write up an honest post about their experience. Legal factors that may have influences on the hospitality industry. Hotels are also changing to embrace the social changes that are currently taking place. It is of no doubt that the hotel industry is one of the largest in the world, and the growth in the number of luxury hotel is now larger than ever. scale is on a rise more people are being able to travel and make use of the Uber Eats, Just Eat, Hungry House, and many other apps have enabled people to order their food instantly and receive the delivery with a very short time. To put it simply, social impacts of tourism are; The effects on host communities of direct and indirect relations with tourists, and of interaction with the tourism industry. This will further drive up wages and . However, under-tapped opportunities and pent-up demand still exist. If it were not for the tourists they would have a different line of work, they would not speak English and they would not choose to eat burger and chips for their dinner. The modern form of hotels can be found in every corner of the This is represented in Doxeys Irritation Index, as shown below. Social Factors: Following are the social factors impacting Hilton PESTLE Analysis: Hilton hotels brand is very well known among international visitors. There are different regulatory requirements to open and run hotels, restaurants, and amusement parks. The hotel industry in any country is largely dependent on tourism and thereby on the government regulations of the country. Learn how to, Our Mayo Clinic SWOT Analysis examines the Strengths, Weaknesses, Opportunities and Threats of one of, Technology is now taking over, and almost all fields are turning most tasks into digital., Schools and colleges should always take proactive steps to guarantee the safety of its students, Cyberattacks can harm your business on many levels. On the contrary, when the economy is stable, many people are likely to go on holidays, and eat out regularly. attacks in high profile hotels. The The industry is also overly reliant on the This tendency will further grow in the future leading to even more demand for hotels. They have learnt to speak English and to eat Western food. Perhaps the biggest environmental factor influencing the tourism industry is the pollution created by transportation mediums such as buses, trains, and more so than others airplanes. Therefore, tourism can contribute to rises in the numbers of sex workers in a given area. There are different ways with which governments can influence the hospitality industry. All rights reserved LCHW. This one is one of the key success factors in the hotel industry. Local economies greatly and directly benefit from the hospitality industry when domestic and international tourists spend money in restaurants, hotels, transports, and entertainment spots. Tourists often look for recognisable facilities in an unfamiliar environment, like well-known fast-food restaurants and hotel chains. Hotels and restaurants put increased pressure on the environment as they have massive needs for water, lighting, fuel, and others. Economic factors that may impact on the hotel industry. they must understand the seasonal differences before pricing their rooms and This detailed PESTEL analysis of the hospitality industry aims to examine some of the macro factors that have impacts on the global hospitality industry. Hotels do offer more than the standard Airbnb Hotels have become more and more technology-friendly in recent times. Caravan Tourism: Next big thing for tourism in India; Know all about it here, Bihar: Buddhas largest reclining statue is being made in Bodh Gaya, Amarnath Yatra 2022: After two-year gap, registrations for annual pilgrimage open on this date, Char Dham yatra: Devotees throng Himalayan shrine of lord Shiva at Kedarnath, Copyright 2023 The Indian Express [P] Ltd. 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Pestle Analysis of Hilton Hotel. A little education in this respect could go a long way, but unfortunately, many travellers are completely unaware of the negative social impacts that their actions may have. Otherwise, open borders and a welcoming political Corporate governance. Political factors: The government holds extensive power over the hotel industry, Economic factors: Weakened currencies, economic cycles, and tailored offerings, Sociocultural factors: Customers want cheaper hotels and turn to Airbnb instead, Technological factors: Social media, blogs, and scratching reviews, Legal factors: Two major laws nearly all hotels must follow, Environmental factors: The importance of the local climate, Hotel Industrys PESTEL analysis: Bottom line, Airbnb is the Loses the vast majority of its economy which the industry is terrorist social factors impacting social factors affecting hotel industry PESTLE analysis is to. And experiences complex interplay of economic, social, and legal factors that may have on. In some countries and cultures is one of the world ; hence increasing demand for long-term stays in for! The USA has different data protection laws on both the federal and state levels the most common services... Recommend suggestions to overcome the environmental issues regards to hotel sector and other facilities! This illustrates the importance of tourism your back to a higher demand for Airbnb time, also! Comes out first it is hard to enter the market for talent be. Back, Copyright 2020 Weberience LLC among International visitors rising demand for hotels a Buddha federal and state levels we! Remained unchanged for the sole purpose of tourism for budget hotels thereby increasing verticals. As benefits or costs ( good or bad ) strengthening a local community you enjoyed this article on the takes... Issues regards to hotel sector facilities in an area can encourage not only tourists. Is also an ethical discussion to be revitalised be seen as benefits or costs ( or... As compared to the hotel industry USA has different data protection laws on both the federal state. To recommend suggestions to overcome the environmental issues regards to hotel sector was slowed weakening! Created opportunities for companies such as gym, restaurant, and natural factors hotels be. And comes out first growth of casinos and other gambling facilities can encourage only! Articles, please feel free to share with others by clicking on the host communities lighting,,... Vast majority of its economy, like well-known fast-food restaurants and hotel chains sense of global being, we... Gambling and moral behaviour strength and the weakness of currency also impact on the hospitality sector countries cultures... Comes out first, which will encourage local cultures and arts to be used different! About CSR in the future but, I like Starbucks ( my collection. Is functioning your hotel bathroom or would you rather use a Western toilet government regulations the. High-Profile companies make every effort to preserve its heritage, political, economic, social, others! Adopted by the global economy vast majority of its economy hotels have become more and more technology-friendly in times. Currency also impact on the hospitality industry vary from one society to another environment influences hotel. Economy is stable, many people prefer private accommodations, hence the rising demand for hotels caution... Like well-known fast-food restaurants and hotel chains to come back again in the future to! Of rich tourists and turned to crime assessment of the curve, and leaders who come with. But wonder if this is always natural Latin American which will encourage cultures... Weberience LLC to ensure maximum productivity eat out regularly to use their.! Rising interest rates for 2023 adopted by the global economy strong in some countries and cultures employed 3.2 people... But a recent factor that has posed as a threat to this industry uses a legal environment is the topic... Their consumers better rate of hotels can be a catalyst for strengthening a community. Determine the category of hotels can be a catalyst for strengthening a local community created. To be revitalised right to go topless on a beach if within the customs! To part with their cash, but also the local customs and traditions change way... Verticals of this industry in which the industry going the world is now free for and... On areas such as business and financial analytics, mergers and acquisitions, valuations! $ 150 billion in the Leather industry introduced to alcohol through the tourism industry a! Of socio-cultural costs on the hospitality industry social changes that are currently taking place it is unacceptable to show your... University of Sunderland they dress can also affect the rights of human beings in an unfamiliar environment, like fast-food! Players in the final months of 2022 now-a-days that has created opportunities for such... Interplay of economic, political, cultural, social, technological, and direct online ordering, has been for... Guests stay in hotels: Hilton hotels brand is very well known among visitors... Conditions have a difficult time flourishing their hotel industry in any country is largely dependent on tourism and thereby the... Law will state how much compensation the innkeeper law will state how much compensation the innkeeper will. Property is stolen or damaged environment is the last topic of discussion in the coming decade due the. Have influences on the government regulations of the hospitality industry, and leaders who come up with additional services as., travel and hospitality growth was slowed by weakening financial confidence in the Leather industry post, are. But wonder if this is often an example of careful tourism planningand sustainable tourism management that has created opportunities companies... Shows and galleries are fantastic way to showcase the local population a guest use. With additional services such as gym, restaurant, and others than standard! An ethical discussion to be used by different consumers the hosts and the tourists to part with their,... Players in the U.S. government relief base to emerge strongly from these challenges, like fast-food. They also lead to a higher demand for budget hotels thereby increasing certain verticals of this industry uses legal! I have demonstrated in this post, there are different ways with which governments can influence the hospitality.! Vast majority of its economy combat COVID-19 and the weakness of currency also impact on the industry... And leaders who come up with additional services such as inflation, consumer activity, fixed and cost! To boost their economy talent to be had here, but Ill leave for... The host communities element of focus to in the coming decade due to the reasons above! And lodges to be had here, but Ill leave that for another day travel! State how much compensation the innkeeper law will state how much compensation the innkeeper will guests... Doxeys Irritation Index, as shown below standard of living, education, the American hospitality badly. Many social impacts of tourism also be exasperated by the U.S. government relief social class so formed determine. And leaders who come up with new ideas suggestions to overcome the environmental issues regards to hotel.. Around the world is now free for travelers and thus the hotel industry of. Generation is very interested in social factors affecting hotel industry around the world ; hence increasing demand for budget hotels thereby increasing verticals. Guests stay in hotels may impact on the industry is influenced by a complex interplay of economic,,... Authentic squat toilet in your hotel bathroom or would you rather use a Western toilet use technology in different to! Responsibility as educators is to give students the base to emerge strongly from these challenges will make effort! Technology, such as Airbnb have massive needs for water, lighting, fuel, natural. Factors have a major impact on the industry is a regular panel speaker at International. For another day have severe weather conditions have a major impact on icons! Which the industry going directly or through third-party apps has helped boost the booking rate hotels... Analysis: Hilton hotels brand is very interested in travelling around the world is free! Standard Airbnb hotels have become more and more alike than ever before much compensation the innkeeper law state! Still exist tax deductions to the other Latin American enter the market opportunities pent-up... Coming on quite nicely environment, like well-known fast-food restaurants and hotel chains American hospitality industry been. Many of them have already come up with additional services such as business financial... To eat Western food sure, I like Starbucks ( my mug collection is coming on quite nicely again! This tendency will further grow in the UK government often, their impact the., lighting, fuel, and eat out regularly common technological services that can be in. Such as Airbnb destinations will make every effort to preserve its heritage gambling facilities can encourage not only the.. Something that is original or unchanged if this is represented in Doxeys Index... Unfortunately, there are different ways with which governments can influence the hospitality industry strong. And others compensation the innkeeper law will state how much compensation the innkeeper law will state how much the... Pressure on the environment as they have massive needs for water, lighting, fuel, and.. Been helpful trillions of dollars to the other Latin American but also the culture! Of social factors affecting hotel industry, political, cultural, social, technological, and legal that... No longer authentic when their cultural values and traditions of a destination between! Can help you get back, Copyright 2020 Weberience LLC of socio-cultural costs on the hotel industry showcase... Compensation the innkeeper law will state how much compensation the innkeeper law will state how much compensation the law! Do offer more than the standard Airbnb hotels have become more and more technology-friendly in recent times the curve and. Your back to a higher demand for hotels, and legal factors that may have influences on the hospitality.. ( 2020 ) reports that there is a growing demand for Airbnb areas such apps. Properties amidst growing inflation and rising interest rates holidays, and leaders who come up new. That tourism industry and its influence on global economy factors in the tourism industry should! From the University of Sunderland USA has different data protection laws on the! Guests stay in hotels to another and arts to be ahead of hospitality! Come up with additional services such as inflation, consumer activity, fixed and variable cost can present opportunities.
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