Thread by @myfinology

Did you know? 🤔

In the first half of 2020, India saw a drop of 65% in the arrival of international tourists.

While some in the hospitality industry suffered great losses, some were unaffected.

How? A Thread!🧵 (1/8)

#finance #stockmarkets

The hospitality industry is all about people; people to people, and people to businesses. This industry is concerned with services related to leisure and customer satisfaction.

It encompasses all services that cater to the needs of the guest away from home. (2/8)

The following four different sectors make the hospitality industry. 4⃣👇👇 (3/8)

1⃣Travel & tourism sector- The travel or the tourism industry is concerned with services for people who have travelled away from their usual place of residence for a relatively short period of time.

Airlines, trains, buses,cruise ships are the common modes of travel used (4/8)

2⃣Accommodation- Bed and breakfasts (B&B), hotels, motels, resorts, time-share, palaces, quasi hotels and whatnot! It primarily involves providing the customers with a place to stay on a temporary basis.

Accommodation and lodging is the largest sector in hospitality. (5/8)

3⃣Food and beverage (F&B) sector - This area comprises restaurants, fast food chains, and any other establishments made with the intention of serving food, snacks, drinks. (6/8)

4⃣Recreational sector - These establishments are purely for entertainment and leisure purposes. The primary focus is that the guests are able to enjoy and relax during their time there.

Casinos, clubs, theatres, cinemas, theme parks fall under this. (7/8)

Click below to find out how the hotel industry uses revenue management to maximize its profits. (8/8)

blog.finology.in/business/hospi…