The hospitality industry is among the fast-growing segments of the economy in the world. Therefore, companies in the industry should consider factors leading to rapid growth to accommodate any changes to meet their business obligation. In doing so, the choice of expansion of their activities should be the question that answers the rapid shifts in the growth of the industry (Telfer & Sharpley, 2015). However, it is important to consider appropriate decisions that are necessary to evaluate the best destination for expansion and management of the business segments in the hospitality industry.
Hospitality management is the practice of controlling the administration of hotels and travelling organisations. Alternatively, the hospitality industry is segmented based on four different categories (Costa, Panyik, & Buhalis, 2013). The first one is the food and beverage sector that involves food preparation for human consumption. The second one is the lodging segment that includes the business models in providing accommodation to the tourists and businesspeople. Additionally, they are located in any location as long as it has the targeted population. The third one is the recreation segment that involves the provision of relaxing services to the given customers (Semrad, 2015). Finally, there is the tourism and transportation sector that are essential for providing movement of people to different destinations of their choice. It is important because it offers services that help to promote transportation of tourists from one attraction site to another.
Selecting the destination depends on the activities such as the recreational services, availability of accommodation, and the location of the hotel, among others. Therefore, my destination city is Las Vegas since it is a prime location for expansion due to the various styles of management in the hospitality industry. The presence of multiple hotels, restaurants and other property developments are evident in the thriving city for the destination of tourists. Significantly, the serene natural environment surrounding the city such as the Baron hills have strategic importance to the location for construction of hotels to provide accommodation. Notably, the existence of the first services by the private associations is vital. Their role is to deliver services to the management of security, and the management of recreational services such as the casinos and spas among others.
Many activities take place in Las Vegas. However, casinos are not part of the segment that is considered active. According to the records from the tourism department in the United States (US) in the year 2014-2015, the growth of tourism rose to a tune of 4.6 million in the city alone. Moreover, during the same period, the gaming lodges properties revenues decreased to 15% compared to the nongambling lodges, which increased to approximately 59% (Lee, 2016). Similarly, it is as a result of investment growth and the ease to access funds for development. The business tends to grow in such places where there is the possibility of motivation by the investors who came up with new ideas that promote local entrepreneurship. The upsurge in the population is also another factor, which contributes to the growth of opportunity since it increases the spending in the economy. However, the hospitality industry also faces challenges. The first one is the traffic in Las Vegas that slows the movement of people to their destination and the accidents cases that are more often in the city. The second one is the declining rate of gambling activities by the strict regulation of the government, which is contrary to what the owners of the business expect. As a result, investors have opted for alternative opportunities to counter the challenges.
The focus in the city is the gambling centres. However, with the decline in the activity due to the challenges it faces like the strict government regulations, the shift is in the lodging sector. An opportunity in the development of convention centre is also a factor to consider. The focus should, therefore, be switched in providing musical entertainments such as the Jazz genre and training of horse riding, among others. Introducing unique festivals with award winning prize during the periods of hot nights in August could also be valuable. These are the factors that can compel competitors from all parts of the US to expand their services of hospitality in Las Vegas.
In conclusion, the management of hospitality has a broad meaning in understanding the segments of the industry. Due to the above impacts, it is vital to note that the challenges are outweighed by the benefits. Therefore, I would recommend the development of the industry to focus on the hotel lodging due to the rise in the rate of accommodation of the tourists as provided in the statistics. By considering the type of functions that suits the local market like introducing the musical entertainment such as the Jazz music, it is clear that innovative ideas are essential in attracting tourist. The management leadership should be able to have self-assessment to learn its weakness and strength to adapt to any changes to meet the goal of the organisation. There are changes over years that have taken place. However, the non-gaming and gaming tourists have much to enjoy.
Costa, C., Panyik, E., & Buhalis, D. (2013). Trends in European tourism planning and organisation (1st Ed.). Bristol, UK: Channel View Publications
Lee, D. (2016). Taiwan MICE developmentfrom the benefits of the combination in MICE and Gaming Industry of Las Vegas Experience. Journal of Tourism and Hospitality Management, 4(1), 1-15.
Semrad, K. B. (2015). Advantages and disadvantages of using flash sales in the lodging Industry. Journal of Tourism & Hospitality, 04(03), 1-4.
Telfer, D. J., & Sharpley, R. (2015). Tourism and development in the developing world. New York, NY: Routledge.
If you are the original author of this essay and no longer wish to have it published on the SuperbGrade website, please click below to request its removal:
- Answers on the Quetions about Marketing Products
- California High-Speed Rail Case: Recommendations
- Effect of the Internet on the Competitive Landscape of Banking
- Leadership Function in the Banking Industry
- Defining Training With Respect to Workplace Discipline
- Paper Example on Environmental Challenges
- Expository Essay Example on Retention of the HR Function Within the Organisation