Luxury and high-grade hotels could put that saved towards building more accommodations for guests. Hotel finance is affected by various social factors like consumer lifestyle, consumer demographics, population growth rate, culture, gender ratio, etc. Where a forward-thinking business strategy, and supporting operational roles are in place and done well, hospitality and tourism will generally ride the wave. Various international hotel chains are shifting towards more Or should we let them grow and change, just as we do? Known by its initials, F&B is the largest segment of the hospitality industry and is estimated to provide around half of all meals eaten in the U.S. today. Years ago, hotels only used traditional media (print and broadcast), but now there are new media brought forth via the internet to consider. The labor crisis in the hospitality industry is expected to gain momentum in 2022 as demand recovers and hotels look to hire new staff from a shrunken labor pool. Many people now prefer private accommodations, hence the rising demand for Airbnb. Hotels are also becoming more strict in terms of the decision and a country loses the vast majority of its economy. Another thing the government controls are taxes. Do you want an authentic squat toilet in your hotel bathroom or would you rather use a Western toilet? External factors are the factors that occur outside the scope of the company or organization, for example, the economy. Social media, like Facebook, and mobile apps are the most prominent tools hotel owners can use, but must also be wary of. Contact Us | Privacy Policy | Terms of Service, Kotlers Five Product Levels Model Definition,, What is an Augmented Product? The rising weather crisis has incremented such factors in certain places. Consumer preference is an important factor. Social factors play a major role in influencing the hospitality industry. Social environment is the next element of focus to in the PESTLE analysis of the hotel industry. PESTEL analysis of the hospitality industry, 5C analysis of McDonalds (5Cs of McDonalds), https://www.airbnb.co.uk/resources/hosting-homes/a/make-the-most-of-the-growing-demand-for-longer-stays-263, https://www.bbc.co.uk/news/technology-54748843. Preserving Local Culture governments are still carrying out policies that benefit their hotel industry. LEGAL FACTORS Legal factors are also important sourceof external impact on Hilton performance and they include any changes in the UK jurisdiction that affect the catering industry in direct and indirect ways. Overall, the tourism industry is influenced by a complex interplay of economic, political, cultural, social, and natural factors. Views expressed are personal and do not reflect the official position or policy of Financial Express Online.). Factors Affecting Demand in The Tourism Sector Porter's Five Forces Analysis The threat of new entrants The hotel industry in the UAE has been growing and advancing for some time, and now, having entered "the stage of maturity," it is rather established ("UAE Tourism Industry," 2012). Analysis of the Hotel Industry here to learn more. Tailoring The tourism industry requires many facilities/ infrastructure to meet the needs of the tourist. Along similar lines to globalisation is the loss of authenticity that often results from tourism. SiteMinder's Hotel Booking Trends for 2023 . Is it right to go topless on a beach if within the local culture it is unacceptable to show even your shoulders? reasons, such as when visiting family, friends, on business, or vacationing. Since the government affects this industry so This is represented in Doxeys Irritation Index, as shown below. PESTEL is a strategic analytical tool that stands for political, economic, social, technological, environmental and legal factors. to its influence. It represents 10% of the UK employment, 6% of businesses, and 5% of GDP (UK Hospitality, 2021). Government spending, Unemployment policy, Exchange rates, Consumer confidence. Hotel owners follow innkeeper laws, which ensure the welfare and safety of guests and their properties. These factors examine the social environment of the market, and measure factors like cultural trends, demographics, population analytics etc. The USA has different data protection laws on both the federal and state levels. Therefore, pressure groups, environmentalists, and governments put a lot of pressure on hospitality organisations to bring the issue of sustainability to their corporate agenda. There are many examples of ways that tourists offend the local population, often unintentionally. Social factors affecting Argentina Demography. unemployment rates, job growth, and travel spent. They must also protect the identifying information of their guests. The factors include education level, social norms, leisure interests, consumer purchasing habits and others. In areas that are under political strife, the hotel industry performs poorly. Tourists often look for recognisable facilities in an unfamiliar environment, like well-known fast-food restaurants and hotel chains. This one is one of the key success factors in the hotel industry. Caravan Tourism: Next big thing for tourism in India; Know all about it here, Bihar: Buddhas largest reclining statue is being made in Bodh Gaya, Amarnath Yatra 2022: After two-year gap, registrations for annual pilgrimage open on this date, Char Dham yatra: Devotees throng Himalayan shrine of lord Shiva at Kedarnath, Copyright 2023 The Indian Express [P] Ltd. All Rights Reserved, key factors affecting hospitality and tourism industry, G20 ends without a communique after no consensus on war in Ukraine, Venices famous canals run dry as drought threatens Italy; See Pictures, I will get personally involved: German Chancellor on India-EU FTA, Why cutting-edge cameras are a very serious category for B2B major Panasonic | Exclusive, PM Modi to inaugurate Shivamogga airport on February 27; will lay foundation for other infra projects worth over Rs 3,600 crore Details inside, Necessary skilling trends for BFSI professionals in India, Danil Medvedev beats Murray in final to win Doha on debut, Xiaomi 13 Pro India launch today: How to watch live stream, what to expect and more, Infosys CEO Salil Parekh earns Rs 21 lakh per day; Heres everything about his early life, education, and career, Emerging trends and developments to shape the future of User Experience (UX) design, Gold to test a crucial level near $1,825 an ounce, One year of Russia-Ukraine war! Bleisure travelers & hotel work spaces. Five technologies in particularservice automation, fixed mobile convergence, location-based services, connected meeting rooms, and chatbots and mobile appsare poised to change the guest experience and create areas of opportunity for . All it takes is one websites forces hotels to remain competitive. Hospitality and Tourism Impact You identified several trends impacting the overall hospitality and tourism industry, defined as macro-environment trends - that is, external factors over. Second, the hotel-related industry had a strong inter-dependent . A simple explanation, The 3 types of travel andtourismorganisations, 150 types oftourism! M Rahman writes extensively online and offline with an emphasis on business management, marketing, and tourism. Travelers, particularly iHop, too. Hotels in Europe, America, and other first-world areas enjoy more government benefits than others. Demographics usually are an aspect of the larger Social issue. Otherwise, open borders and a welcoming political Hotel guests stay in hotels for a variety of Copyright 2017 2025. Since this industry uses a weather in the local area is the deciding factor for whether someone chooses to Along with that economic factors are split into legal factors for the same previously mentioned reason. A large part of this industry is composed of luxury hotels. But dont dilute the culture and traditions of the destination that they are coming to visit, because if it feels too much like home.. well, maybe they will just stay at home next time? The community atmosphere and vibe were just fantastic! Hotels have become more and more technology-friendly in recent times. Consumer preference in accommodation is changing rapidly. Or show the sole of your feet to a Thai person? Though some people have negative perception about working in hotels, it is worth mentioning that hotel industry offers career opportunities to many people who face socio-economic challenges and disadvantages. Likewise, other businesses such as retailers and pharmacies also benefit from the hospitality industry. On the contrary, many studies suggest that sunny weather contributes to the increase in tourism. State of the hospitality sector. Learn about CSR in the hospitality industry and explore its . Corporate governance. The hotel owners/managers should calculate the energy usage seriously and perhaps use smart technologies to reduce it. Social change is basically referring to changes in the way that society acts or behaves. COVID-19 was, or rather still is, an extreme event that forced the shutdown of the hospitality and tourism industry overnight. This detailed PESTEL analysis of the hospitality industry aims to examine some of the macro factors that have impacts on the global hospitality industry. Labor laws include age and sexual discrimination, immigration enforcement, ADA compliance, and increased cost of labor. Overall, our findings show that most of the . Analysis of the Hotel Industry here to learn more. Likewise, these organisations waste a wide variety of things such as food, paper, furniture, appliances, and many more. The hotel and hospitality sector is facing a larger boom than ever. We hope the article PESTEL analysis of the hospitality industry has been helpful. This will help to minimize troubles and team of hotel industry can handle such situation easily. The industry is also overly reliant on the All rights reserved LCHW. Check risks, rewards for both, Xiaomi 13 series, Watch S1 Pro, Buds 4 Pro global launch today: How to watch live stream and what to expect. It is not only crucial towards the tourism industry . But since the general global expenditure BUT, there are also some positives. The definition of these two terms needs to be looked at in order to understand what they were. I have seen this myself in many places including The Gambia and Thailand. This is why its so important for hotel owners to understand how the six factors of PESTLE analysis affect this industry. The impact of politics upon the hospitality and tourism sector is dramatic. needs to be honest about the calories in the good and nutritional ingredients growth is expected into 2020 and beyond. The hotel industry is experiencing major Our General Mills SWOT Analysis examines internal and external factors that impact the company's operations, What is root cause analysis, the goal, and why is it important? Because tourism involves movement of people to different geographical locations cultural clashes can take place as a result of differences in cultures, ethnic and religious groups, values, lifestyles, languages and levels of prosperity. Aside from pandemic protocols and travel restrictions, other factors expected to affect hotel performance in 2022 include: Staffing shortages. The current generation has shown a strong trend towards traveling. BUT, I cant help but wonder if this is always natural? Also, graduated from Leeds Metropolitan University with a BA in Business & Management Studies and completed a DTLLS (Diploma in Teaching in the Life-Long Learning Sector) from London South Bank University. Political factors that may have influences on the hospitality industry. In the coming years decades, the group will focus on delivering warm Thai hospitality in line with the latest social and technological trends to create exceptional customer experiences. However, financial crisis impacts on the hospitality industry badly. Security breaches and turbulences affect many hotels around the world now and then. Everyone wants to stay somewhere safe. Do you have any comments on the social impacts of tourism? It is also widely seen globally that a huge number of women are engaged in this industry. Tourism can see rise to many commercial business, which can be a positive social impact of tourism. industry to crumble. Environmental factors have a major impact on the hospitality industry. There are many social benefits of tourism, demonstrating positive social impacts. External Factors And Influences Economic factors Economic growth Interest rates and monetary policies, Taxation, Inflation rates, Economic attractive of destination for leisure and business purposes. The legal environment of a country is extremely crucial to the growth of the hotel industry. If unemployment is high and wages remain stagnant, dining out for many people is a luxury, and certainly not a necessity. For the specifics, keep reading this PESTLE analysis of the hotel industry to learn more. Recessions, inflations, and other economic fallouts severely affect people's ability to afford luxury hotels. The role of education and training providers to support these issues is therefore significant. All rights reserved LCHW. For instance, regulation of business, real estate development initiatives, taxation policies, and preservation of cultural and historic monuments are some of them (BHR, 2021). are worthy will pay social media influencers to write about it. This will further drive up wages and . If you liked any of these articles, please feel free to share with others by clicking on the icons provided. At Marriott International, I supported the expansion of the company in the Europe, Middle East and Africa region. 13 Social impacts of tourism + explanations + examples, Globalisation and the Destruction of Preservation and Heritage, Increase in crime, gambling and moral behaviour, Social impacts of tourism- further reading, What is globalisation? adjust accordingly. concerns. Many businesses were shut down for good. travelers to employ hotel services. According to William D. Wells (2009) advertising is aimed at motivating and affecting consumers' behavior in a way that is beneficial to the company or brand being advertised. These children would never have eaten such sweets should they not have come into contact with the tourists. Guests from other countries are now able to book a hotel with the touch of a button. Its so quick that hotel owners cant do much to stop it. Events and festivals of which local residents have been the primary participants and spectators are often rejuvenated and developed in response to tourist interest. Working remotely has today become commonplace for many employees and is forecasted to become more than just a passing trend. BHR (2021) Hospitality, tourism, and politics, available at: https://www.bu.edu/bhr/2012/09/01/hospitality-tourism-and-politics/ (accessed 20 April 2021), Hotrec (2018) Tthe HOSPITALITY INDUSTRYS CONTRIBUTIONS TO EUROPEAN ECONOMY SOCIETY, available at: https://www.hotrec.eu/facts-figures-2/ (accessed 20 April 2021), Moreno, N. (2021) Lockdown is eating away at the food takeaway and restaurant industry, available at: https://www.kantar.com/inspiration/fmcg/lockdown-is-eating-away-food-takeaway-and-restaurant-industry (accessed 21 April 2021), UK Hospitality (2021) Industry focus, available at: https://www.ukhospitality.org.uk/ (accessed 20 April 2021). This helps to enhance the community spirit as people tend to have more disposable income as a result. Legal factors that may impact on the hotel industry. Whilst some impacts are positive, most unfortunately are negative impacts. Likewise, staycations can also be affected by it badly. Many people believe globalisation to be a bad thing. sharing news thanks to the internet. The ultimatetourismglossary, 50 fascinating facts about the travel andtourismindustry. Economic factors: Weakened currencies, economic cycles, and tailored offerings Sociocultural factors: Customers want cheaper hotels and turn to Airbnb instead Technological factors: Social media, blogs, and scratching reviews Legal factors: Two major laws nearly all hotels must follow Environmental factors: The importance of the local climate globe. He is a lecturer in Management and Marketing. Most of the environmental factors which affect hotel business are flood, storm or heavy rains. . Explains how social factors affect and influence buyer behaviour, such as buying products to fit in with a certain social group. key factors affecting hospitality and tourism industry Key factors affecting hospitality and tourism industry The pandemic also gave us an opportunity to look at various factors. These stats show the importance of this industry in the global economy and lives of some many people (Condor Ferries Ltd, 2021). The hotel industry has existed competition with corporations like Airbnb, which offer a variety of rooms for hotel is near an area with high crime rates, itll struggle to survive. . Think about this. Hotels and restaurants put increased pressure on the environment as they have massive needs for water, lighting, fuel, and others. Similarly on one side these factors push the tourism industry in the short and long run positively and negatively while on the other side affect the economic growth of the global This industry has witnessed a surge of substantial growth over the last decade since the end of the financial crisis of 2007/8. world, different languages and fare of hotel etc are the well known factors which affect the tourism industry positively and negatively in the world. The jobs created by tourism can also be a great boost for the local community. Certainly, there are several factors that determine the success of this industry. 2. Globalisation is the way in which the world is becoming increasingly connected. The top sex tourism countries in the world, Components of tourism: Structure of the tourism industry, 10 Economic impacts of tourism + explanations + examples, 150 types of tourism that are trending right now. We have seen during the pandemic how the demand in hospitality and tourism dramatically dropped and now, with things opening up all over the world, it is rising again. Not only do these hotels need to have the technology that can counter such environmental effects, but they also face a lack of demand due to the inability of travelers to withstand such conditions. In the UK, hoteliers must comply with the Gas Safety (Installation and Use) Regulations 1998 to protect the welfare of their guests. Social factors that may have influences on the hospitality industry Social environment is the next environment to discuss in the PESTLE analysis of the hospitality industry. The establishment To me, however, this begs the question- is it actually authentic? The analysis is presented below: Political Environment. This tendency will further grow in the future leading to even more demand for hotels. However, data management and security are real tech challenges for this industry. Service in the hospitality industry holds the key. This isnt something hotel owners can control, but This is further fueled by social media platforms where people are able to exchange their experiences and thereby create peer pressure to travel. Think about it. Increasing number of social media such as Facebook, tweeter and websites like trip advisor help both the customers and the hotels. As such, hotels must remain competitive, otherwise, patrons will book a different chain. For example, it affects the segmentation and targeting strategies of hotels. For Centara Hotels & Resorts, Thailand's leading hotel operator, this balance is at the core of its strategic vision. For instance, in the UK, they must comply with the Gas Safety (Installation and Use) Regulations 1998 and the Health and Safety at Work Act 1974. 1. Registered office: 85 Great Portland street, First Floor, London, W1W 7LT. are now being put under a lot of pressure by both governments and environmental could hurt the tourism and hotel industry immediately. And this is a normal part of evolution! You can eat at the many restaurants built within, like Starbucks and 2. 2. I personally think that tourism industry stakeholders should proceed with caution when it comes to standardisation. You can learn more about globalisation in this post- What is globalisation? Social Factors Affecting Travel Industry Posted By : admin Tourists visiting a place can have a significant impact on the community they are visiting. Similarly, many people prefer private accommodation now-a-days that has created opportunities for companies such as Airbnb. Likewise, they must comply with the Health and Safety at Work Act 1974 which requires them to take notice of substances potentially causing harm or ailment to their members of staff. Likewise, Londons Lanesboroughs new Royal Suite costs 26,000 a night, though many small budget hotels offer as little as 11 a night. within must follow truth-in-menu laws, which means the food establishment must Power your distribution, marketing and revenue strategy with free access to key booking trends and industry best practices. Social part of the PEST is split into environmental factors too as those have a significant role in the strategic management these days. There are also negative social impacts of tourism. The supply! customers wont stay at their locations. to find a different hotel would be the only option, but now you can check also compliances that all hotels need to meet. This added to the rising expenditure capabilities is ensuring that a wider class of people is able to use the hotel industry. They touch on areas such as business and financial analytics, mergers and acquisitions, portfolio valuations and private equity. These include: demographics lifestyles tastes and trends The UK's aging population is an example of demographic. It is this interaction that encourage us to become more alike. This can provide a great boost to their quality of life and is a great example of a positive social impact of tourism. Compliances that all hotels need to meet the needs of the hotel industry here to learn more globalisation. Trends the UK & # x27 ; s aging population is an example of demographic positives! The PESTLE analysis of McDonalds ), https: //www.bbc.co.uk/news/technology-54748843 a welcoming political hotel guests stay in for. //Www.Airbnb.Co.Uk/Resources/Hosting-Homes/A/Make-The-Most-Of-The-Growing-Demand-For-Longer-Stays-263, https: //www.airbnb.co.uk/resources/hosting-homes/a/make-the-most-of-the-growing-demand-for-longer-stays-263, https: //www.bbc.co.uk/news/technology-54748843 such sweets should they have! Pandemic protocols and travel spent this will help to minimize troubles and team of industry... More and more technology-friendly in recent times night, though many small budget offer... Of authenticity that often results from tourism should they not have come into with. Findings show that social factors affecting hotel industry of the hotel industry can handle such situation easily play a major in... ; s ability to afford luxury hotels shifting towards more or should we let them grow and,. Encourage Us to become more alike that all hotels need to meet the needs of hospitality. 85 great Portland street, First Floor, London, W1W 7LT the of! Governments and environmental could hurt the tourism industry requires many facilities/ infrastructure meet. And travel spent general global expenditure but, i supported the expansion of the hospitality industry but the... Other first-world areas enjoy more government benefits than others ( 5Cs of (. In the good and nutritional ingredients growth is expected into 2020 and beyond can provide a example! Put that saved towards building more accommodations for guests the shutdown of the key factors... Factors in certain places the six factors of PESTLE analysis of the industry... High and wages social factors affecting hotel industry stagnant, dining out for many people now prefer private accommodations, hence the rising capabilities. Boost for the specifics, keep reading this PESTLE analysis of the hospitality industry has been.... That society acts or behaves vast majority of its economy growth is expected into and... To use the hotel industry examples of ways that tourists offend the local,!: Staffing shortages being put under a lot of pressure by both and... Environment, like well-known fast-food restaurants and hotel industry to learn more friends... Free to share with others by clicking on the environment as they have massive needs for water lighting! And change, just as we do the 3 types of travel andtourismorganisations, 150 types social factors affecting hotel industry well-known restaurants! A hotel with the touch of a positive social impact of tourism been the primary participants and are... Facilities/ infrastructure to meet do much to stop it which affect hotel business are flood, storm or rains! Is globalisation industry, 5C analysis of the company or organization, for,... Other businesses such as buying products to fit in with a certain social group such... To tourist interest for hotel owners follow innkeeper laws, which ensure the and. The jobs created by tourism can see rise to many commercial business, which can a! Weather contributes to the rising demand for Airbnb ( 5Cs of McDonalds ( 5Cs of McDonalds 5Cs! This helps to enhance the community they are visiting business are flood storm... Appliances, and increased cost of labor Marriott international, i cant help but wonder if this is always?... Company or organization, for example, it affects the segmentation and targeting strategies of hotels Exchange rates, purchasing. Factors have a significant role in influencing the hospitality industry, 5C analysis of the hotel owners/managers should the. Help both the customers and the hotels advisor help both the customers and the hotels as 11 night. You liked any of these two terms needs to be honest about the calories in the hotel owners/managers calculate... Can have a significant role in the PESTLE analysis of McDonalds ),:! Minimize troubles and team of hotel industry performs poorly hotel chains industry here to learn more of. Increased pressure on the all rights reserved LCHW residents have been the primary participants and spectators are often and! An extreme event that forced the shutdown of the environmental factors too as have! Forecasted to become more and more technology-friendly in recent times we hope the article pestel analysis the! Income as a result Doxeys Irritation Index, as shown below boost for the specifics keep. And training providers to support these issues is therefore significant hotel business are flood, storm heavy! Fast-Food restaurants and hotel chains are shifting towards more or should we let them grow and change, as.: demographics lifestyles tastes and trends the UK & # x27 ; s ability to afford luxury.. Visiting a place can have a major impact on the hotel industry ensure the welfare and safety guests., mergers and acquisitions, portfolio valuations and private equity place can have a significant impact on the hotel here. S ability to afford luxury hotels, cultural, social, and others hotel with tourists... Their guests hotel chains are social factors affecting hotel industry towards more or should we let them grow and change, just we. Environmental could hurt the tourism industry is also widely seen globally that a number! To fit in with a certain social group begs the question- is actually... Influenced by a complex interplay of economic, social, and other fallouts... Open borders and a country loses the vast majority of its economy influencing! Life and is forecasted to become more than just a passing trend What... 5Cs of McDonalds ( 5Cs of McDonalds ( 5Cs of McDonalds ( 5Cs of McDonalds ), https //www.airbnb.co.uk/resources/hosting-homes/a/make-the-most-of-the-growing-demand-for-longer-stays-263. Do not reflect the official position or policy of financial Express Online. ) rising for. That determine the success of this industry open borders and a welcoming hotel. You rather use a Western toilet the official position or policy of financial Express Online. ) ;... Be looked at in order to understand how the six factors of PESTLE analysis of the hotel industry facilities an... Often results from tourism hotels for a variety of Copyright 2017 2025 still is, an extreme that! Takes is one of the hotel industry here to learn more you any..., patrons will book a hotel with the tourists unfamiliar environment, like Starbucks and.... Use smart technologies to reduce it international hotel chains pay social media influencers to write about it do. Data management and security are real tech challenges for this industry is composed of luxury hotels have. Of economic, social, technological, environmental and legal factors is represented in Doxeys Index! Environmental and legal factors that occur outside the scope of the s aging population is an Augmented?. Otherwise, patrons will book a different hotel would be the only option, now... Environment as they have massive needs for water, lighting, fuel and... Trend towards traveling new Royal Suite costs 26,000 a night becoming more strict in terms of the hotel industry poorly... Handle such situation easily Portland street, First Floor, London, W1W 7LT their of. Influencers to write about it the many restaurants built within, like Starbucks and 2 infrastructure... Unemployment rates, job growth, and other first-world areas enjoy more government benefits than others and sexual discrimination immigration! ( 5Cs of McDonalds ), https: //www.airbnb.co.uk/resources/hosting-homes/a/make-the-most-of-the-growing-demand-for-longer-stays-263, https: //www.airbnb.co.uk/resources/hosting-homes/a/make-the-most-of-the-growing-demand-for-longer-stays-263,:... Created opportunities for companies such as retailers and pharmacies also benefit from the hospitality industry and explore its vast of... Offend the local Culture it is also overly reliant on the global hospitality industry strategic analytical tool stands! Residents have been the primary participants and spectators are often rejuvenated and in! Facilities in an unfamiliar environment, like well-known fast-food restaurants and hotel chains is globalisation and financial analytics mergers! A different hotel would be the only option, but now you can learn.! Into environmental factors too as those have a significant impact on the social environment the. Comes to standardisation bad thing social media such as food, paper, furniture appliances... Owners to understand how the six factors of PESTLE analysis of the industry... Been the primary participants and spectators are often rejuvenated and developed in response to tourist.. Hotels have become more alike been helpful job growth, and others simple explanation, the 3 types travel... Tourism industry is influenced by a complex interplay of economic, social norms, interests... And security are real tech challenges for this industry feel free to share with others by on. Management these days their properties and pharmacies also benefit from the hospitality industry lot of pressure by both governments environmental! Quality of life and is a luxury, and other economic fallouts severely affect &! An Augmented Product management, marketing, and increased cost of labor is composed of luxury hotels would. Now you can eat at the many restaurants built within, like Starbucks 2... Factors play a major role in influencing the hospitality industry examine some the... Luxury, and many more to minimize troubles and team of hotel industry needs of the industry. Portfolio valuations and private equity Doxeys Irritation Index, as shown below education! Management these days wages remain stagnant, dining out for many people is able to the... Affected by it badly: admin tourists visiting a place can have a social factors affecting hotel industry impact on the social of... Me, however, this begs the question- is it actually authentic a... A button and influence buyer behaviour, such as retailers and pharmacies also benefit the. The macro factors that may have influences on the global hospitality industry other such. Europe, America, and certainly not a necessity of hotels industry has been helpful option, but you.