Podcast
Questions and Answers
Legal changes can always be controlled by companies within the hospitality industry.
Legal changes can always be controlled by companies within the hospitality industry.
False
The macroenvironment refers to the uncontrolled aspects in the hotel business.
The macroenvironment refers to the uncontrolled aspects in the hotel business.
True
Tourism in the hospitality industry may not be impacted by severe economic hardship.
Tourism in the hospitality industry may not be impacted by severe economic hardship.
False
Technological changes have no effect on the hospitality industry.
Technological changes have no effect on the hospitality industry.
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Contingency planning can help mitigate the effects of uncontrollable variables in the hospitality industry.
Contingency planning can help mitigate the effects of uncontrollable variables in the hospitality industry.
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External factors like the state of the global economy do not affect the hospitality sector.
External factors like the state of the global economy do not affect the hospitality sector.
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Study Notes
Uncontrollable Variables in the Hospitality Industry
- The hospitality industry is affected by uncontrollable variables that impact hotel management and owners.
- Understanding these variables enables contingency planning and mitigates their effects.
Economic Factors
- The macroenvironment refers to the uncontrollable aspects of the hotel business.
- External factors, such as the state of the global or national economy, are beyond the control of the hospitality industry.
- Economic downturns can lead to a decline in discretionary spending, negatively impacting the hospitality sector.
- In severe economic hardship, tourism may decline, leaving hotels reliant on the business community.
Legal Changes
- Changes in laws can affect companies within the hospitality industry and are uncontrollable.
- The regulatory environment in the hospitality industry can change over time, affecting the way businesses operate.
- Examples of legal changes include changes in tax laws, which can raise the price of gas and affect tourism and hospitality costs.
Technological Changes
- Technology continues to evolve and affects the hospitality industry, like many others.
- Technological changes can have a significant impact on the hospitality industry.
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Description
Explore the uncontrollable variables that impact hotel management and owners in the hospitality industry. Learn about contingency planning and strategies to mitigate the effects of these factors. Understand how the macroenvironment and economics play a role in the hotel business.
