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Hospitality Industry

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Submitted By greyzghing
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I. Introduction

Hospitality industry is one of the most in-demand industries nowadays. Hospitality management involves the planning, organizing, directing and controlling of human and material resources within the lodging, restaurant, travel and tourism, institutional management, recreational management and meeting and convention planning industries. All of these separate yet related segments of the hospitality industry are interrelated to deliver kind and generous services to guests. This is also one of the oldest businesses in history. People have always gone out to eat sometimes and traveled for work or leisure purposes. The industry is responsible for providing primarily food services and accommodations in places such as hotels, resorts, conference centers and theme or amusement parks. The catering or food service industry, which overlaps with the hospitality industry, primarily provides food services to institutions (such as schools, hospitals, or governmental operations), private industry (such as corporate cafeterias or motion picture studios), and private parties. Many people are enticed to bring up a business that is related to food service industry because of many potential markets that are all around the globe. However, to bring up a good food related business, one must be familiar to feasibility studies. A feasibility study looks at the viability of an idea with an emphasis on identifying potential problems and attempts to answer one main question: Will the idea work and should a businessman proceed with it?
Before beginning writing business plan, there is a need to identify how, where, and to whom you intend to sell a service or product. It is also in need to assess competition and figure out how much money you need to start a business and keep it running until it is established.
This is an important tool to the soon to be businessman in the...

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