Hospitality Industry – Hotels Business Current and Future Trends

Hospitality has long been synonymous with the hotel industry. Any changes in trends of hotel business have wide scale implications on an otherwise diverse industry. What might be an opportunity for a traveler can be a matter of survival for hotels? It will not be an oversimplification to suggest that the emerging concepts in hotel industry reveal an atmosphere of stiff competition. Here is a look at a few major issues:

Is Green better?

Amid growing concern over environment friendly services, a majority of travelers now prefer Green and Eco lodgings. Recent surveys by trade associations such as Partnership Travel Industry Association and online retailers like Yahoo revealed that nearly seventy percent of the tourists are willing to pay extra when it comes to environmental friendly lodgings. These surveys further revealed that these guests will pay anywhere from nine to ten percent premium on the already advertised prices.

What can be stated as a welcome relief for the educated traveler might pose real challenges for the hotel business. To better understand the scenario, it should be noted that hotels are presently facing severe shortages in occupancy rates which are at their lowest since 1971. Such a crisis and lack of funds can definitely hamper any efforts to install appliances that comply with the LEEDS standards (Leadership in Energy & Environmental Design). Some experts agree that a trade off may lead hotels into removing free amenities that include little bottles of shampoos, jams and free basket of fruits; all of which are the hallmark of these eco lodgings.

Where are the Workers gone?

The hotel industry gives employment at a very large proportion of part time workers, who after gaining substantial experience, leave for other lucrative jobs at restaurants and outdoors. Low wages in the hotel industry is one of the primary reasons for low retention rates.

Hotel industry Gurus are already thinking of ways to attract and retain qualified workers by increasing the pay scales and by reducing the long working hours. The top management is now devising constructive methods that will retain the existing workers by sponsoring education and creating attractive career paths.

Mega Hotels

The rising cost of construction and a struggling real estate has prompted hoteliers to deploy the pre-fabricated and cost effective solution in the construction of new hotels. In fact they are fighting back by producing highly efficient designs that utilize a greater proportion of space for revenue generating purpose. Future trends in the hotel construction will seek to maximize the use of building areas by constructing a multi purpose facility that will include Casinos, shopping outlets and Theatres. The stand alone hotel concept is likely to vanish as the new properties will be constructed as a mixed use development to provide guests with facilities such as Church, Hospitals and Theme Parks. Such a variety will ensure that guests remain at one spot which will help generate revenue for the entire hotel complex.

The evolution of savvy traveller

The evolution of internet has given rise to a phenomenon where travelers are becoming ever more demanding. Industry professionals suggest that an increase in a trend, to review properties online, will make travelers less forgiving as they are able to post their travel experiences. Such an overemphasis on web may even lead to stiff competition and price reduction strategies where only large players may be able to survive.

To ward of such threats, the small business owner is now turning towards opening a boutique establishment as an alternate to 70,s style motels. Such niche properties are popping up everywhere by advertising a more personalized “home away from home” kind of experience. The introduction of such boutique properties has also given rise to the popular and widely accepted theme of modern hostels. These hostels are keen to provide a clean and safe environment for budget conscious travelers. Their goal is to wipe out the myths associated with cheap motels and dingy guesthouses.

Whatever may be the case, one thing is for sure that constant remodeling of the hotel industry has made it more functional and practical not only for the guests but also for the hotel owners.

Commercial Business Insurance Quote – A Look at the Types of Coverage in Business Insurance Plans

There is no business to small that it can’t benefit from insurance. Regardless of your company’s size, you should be taking the time to search for a commercial business insurance quote. However, the exact coverage you require, interest rates, etc. play a role in the type of quotes you get. Choose an insurer that offers custom policies for your industry. Do research and read reviews to make sure that the company you choose is a good choice for businesses like yours.

What exactly is business insurance? It is a broad range of policy options compiled to protect a company from financial loss. The potential causes of financial loss obviously vary from one company to the next

Here is an overview of some of the types of coverage available. Some of these you will likely need and some you will not:

• General liability insurance (protection from 3rd party liability claims for injuries other people occur)

• Product liability

• Malpractice / professional liability

• Property insurance

• Workers compensation

• Commercial vehicle insurance

• Cyber-crime protection

• Loss of income

• Records retention policies

• Key personnel insurance, should the head(s) of the business become incapacitated

• Specialty coverage for things specific to your industry as well as one-day events such as concerts or seminars

Legal Requirements in a Commercial Business Insurance Quote

Commercial insurance is typically required by law, but under certain conditions, and those vary from state to state. At the very least you will need general liability insurance. Depending on your trade, your state might require you to carry insurance against professional liability. If you have employees, you will probably be expected to pay unemployment insurance taxes under certain, prescribed conditions if they are deemed to be applicable to your organization. You’ll therefore have to register your business with the work force’s agency in your state.

Don’t just select the first cheap commercial business insurance quote you see. Your policy must be tailored to your business based on its risks and relevant laws regarding your industry. Work with an insurance company that will take the time to learn about your business in order to get you the best coverage possible to protect your business investments.

Since there are so many sites that all promise to offer the “best” commercial business insurance quote, it’s a good idea to use Hiscox Business Insurance as the starting point. While it is a big insurance company, Hiscox does not view insurance coverage as a “one-size-fits-all”. It is your best bet to get a tailored coverage for your industry and specific needs.

Have You Recruited Any Leaders Into Your Home Based Business?

I do not know if you are one of the people that might be struggling a little bit to recruit leaders into your primary business. Chances are that you are struggling to just plain recruit anybody into your business.

This is not your fault. People get started in the home base business industry and get taught a variety of strategies and methods that some people believe to be old school methods. A number of these methods still work today but on the other hand a large number of these so called old school methods really are some what out dated.

Are you perhaps familiar with the methods of, doing cold calling, handing out DVD’s etc.

Well, a lot of the old methods are not very enjoyable.

There is a better way though. A way that is fun that will make building your business so much easier than to try to chase family and friends. The only way to do this is to become a person of value. A person that can provide guidance to people in building a profitable home base business.

This would require you to become an expert yourself. To do this, you would need to team up with a mentor or at the very least, do some research about how to build a profitable home base business.

The old saying will never die: “Knowledge is power.”

Increasing your knowledge in how to build a profitable home base business will result in more people coming to you to join you in your business. This is one of the secrets that many people do not know. They think that they will succeed by pitching their primary company to people everyday.

If you think about it, these people that you approach never even asked to enter upon the home base business industry, much less to join you in your primary company. The secret that I am revealing to you here is the core of attraction marketing. This core secret is to increase your personal value to people which will result in your success in building a profitable business.

Another way of really enhancing your business success is to use the internet as a tool to super charge your way of reaching multitudes of people all at once.

Using the Internet as a tool to leverage your time and to maximize your recruiting success is something that take a little time to put in place, especially if you are starting out as a complete newbie to online marketing.

Which bring me to the point.

The “new” way of building a profitable home base business in the twenty first century require a home base business owner to incorporate online and offline marketing strategies while using attraction marketing at the same time.

This is what the top producers in the industry implement with great success to recruit leaders into their business.

I am not going to beat around the bush here.

If you are a person that are serious about succeeding in having a secure residual income from being part of a industry that provide ordinary people the opportunity to grow wealth starting part time, then you need to take these few little tips with regard to attraction marketing and using the internet as a tool to enhance your success in your business very seriously.