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Hospitality and Leisure

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HOSPITALITY AND LEISURE INDUSTRY

Overview


The Hospitality and Leisure sector has emerged significantly over the last decade. With a growth in consumer disposable income and other factors such as the emergence of low-cost airlines, there is a greater emphasis on leisure activities and short breaks.

The hospitality and leisure market is dynamic with corporate activity in terms of acquisition and mergers through the disposal of part or whole of the business. It is also constantly evolving to meet the ever-changing tastes of the consumer. Encompassing gaming, attractions, golf, hotels, spa resorts, restaurants and health and fitness to name a few ... the hospitality and leisure sector is broad in its service offering, however, all face similar challenges.

Competition is intense from traditional players and new entrants, with margins being continually compressed. In order to meet ever-increasing demand and customer expectations, leading organizations within this sector are focused on continuous improvement through innovation, service quality and value.

As leisure time and personal incomes have grown across world-wide, so has the arts, entertainment, and recreation industry. Practically any activity that occupies an individual’s leisure time, excluding the viewing of motion pictures and video rentals, is part of the arts, entertainment, and recreation industry. The contrasting and disparate range of activities offered by this industry can be categorized into three broad groups—live performances or events; historical, cultural, or educational exhibits; and recreation or leisure-time activities.

This section of the industry also includes physical fitness facilities that feature exercise and weight loss programs, gyms, and health clubs. These establishments also frequently offer aerobics, dance, yoga, and other exercise classes.

Technology is a major part of producing arts, entertainment, and recreation activities; for example, lighting and sound are vital for concerts and themed events and ornamented and sophisticated sets are often required for plays. However, most of this work is contracted to firms outside of the arts, entertainment, and recreation industry.


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  17 April 2017
 
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