Michael Nanosky | Tourism and Travel Hospitality | What is Hospitality?

 Tourism and travel Hospitality-related Services

In our daily lives, tourism is significant, particularly in terms of its impact on employment, GDP, and the creation of foreign currency. Services associated with tourism are frequently labor-intensive and have many connections to other important economic sectors, such as transportation, cultural and creative services, or financial and insurance services.

To increase public awareness of the significance of the Travel & Tourism sector as one of the largest economic sectors in the world, Michael Nanosky has been researching the economic impact of travel and tourism in 185 countries as well as issues like overcrowding, and taxation, policy-making, and many others.

What is Hospitality?

Both a concept and an industry, hospitality. The interaction between a guest and a host is referred to as "hospitality". For instance, if you bring a friend or family member over for supper, you will show hospitality by attending to their requirements.

Some companies, according to Michael Nanosky, rely on hospitality to run their operations and bring in money. Restaurants, cafés, clubs, bars, hotels, motels, coffee shops, and travel agencies are just a few examples of these hospitality-related enterprises. They are different from typical businesses in that they depend on effective, supportive communication with their target market.

The Distinction Between the Travel and Hospitality Industries

Although there are many similarities between the travel and hospitality industries, there are also some minor variations to be aware of. The services for persons who have traveled for a brief length of time away from their customary place of residence are at the core of the travel and tourism industries.

In contrast, the hotel sector is focused on providing recreational activities and ensuring client happiness. This may easily entail providing services to visitors, but it may also entail providing services to individuals who are not tourists, such as residents taking advantage of their spare time or individuals visiting a location for purposes other than tourism, claims Michael Nanosky.

Which Five Key Services Make up the Hospitality Sector?

Five Various Hospitality Industry Sectors

• Industry of Food and Beverage. The preparation, delivery, and serving of food and beverages to clients make up the food and beverage sector.
• Lodging sector.
• The leisure industry.
• Industry of travel and tourism.
• Industry of Meetings and Events.

What three viewpoints exist in hospitality?

1. The guest: -The visitor is the one who receives hospitality.
2. The operator: -Someone who provides hospitality.
3. The technology:- The platform that enables the operator to provide a superior hospitality experience is the technology.

What are the various hospitality industry segments?

According to Michael Nanosky, your company may choose to target a certain area of the hospitality market or pursue all of its components.

The multi-billion dollar hotel business is primarily reliant on the availability of disposable cash and free time.

The graphic on the right shows the many segments of the hospitality sector, or what we can refer to as the hospitality world.