Define franchising in hospitality. What are the trend and benefit of such grouping Franchising as a concept can be characterized as one that has been subject to a wide range Of definitions resulting in a great deal of confusion. Franchising can almost be viewed as a stream of literature in its own right. http://hotelmarketing.com/index.php/content/article/top_10_hospitality_industry_trends_for_2012 The upcoming year is projected to be a better and brighter one for the hospitality industry, but what are the new factors driving the market in 2012? The landscape is evolving quickly as new technology demands that hotels become more social and engaging in their marketing efforts, travelers are looking for the best value propositions, and consumer demand is pushing for hotels to make concerted efforts on property upgrades and improvements.
To understand the market and to help hoteliers capitalize on what's to come, Robert Rauch, otherwise known as the Hotel Guru and president of R.A. Rauch & Associates, a San Diego-based hospitality management company, has compiled and released his list of Top 10 hospitality industry trends for 2012:
1. Hoteliers will invest in reinvigorating properties to take advantage of the market. After years of delaying capital expenditures, hotel companies are betting that now is the best opportunity to renovate their properties. In 2012, we'll see even more hotels renovating lobbies, restaurants, bars and fitness centers, as well as replacing beds, TVs, and more. Hotel sales, an absolute outcome of an improved market, will spur even more renovations since sale contracts always contain a provision requiring the new owner to upgrade the property.
2. There will be little to no new development dollars on the debt or equity Side. This is good news for most, but bad news for the developers who genuinely have enviable sites in great markets. Despite that, optimism reigns. A great deal can, and will, get done. We've seen it. In fact,...
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