HOTEL AND HOSPITALITY INDUSTRY – FACTS VS MYTHS
Before joining the hospitality industry, there are several doubts that may come across the minds of aspiring students. The hotelling business is often looked upon with wrong notions. Knowing the facts about this industry is important for any student who’s willing to make a career in this industry.
Top private colleges in the hospitality sector are helping their students become fully aware of the myths as well as the facts related to the industry. By doing so, there are no surprises for students entering the industry after completing important hotel management courses, say a master’s in hospitality management.
Top 5 Facts about Hotel and Hospitality Industry
Here are the top five facts that you must know about the hotel industry before shaping up your career in it:
- Trillion-dollar industry: As of 2020, the total worth of the global hotel and hospitality industry is worth over US$ 10 trillion. In the next three years, the travel and tourism sector alone is pegged to bring in more than US$ 2 trillion in operating revenues.
- Leading markets: Europe continues to be the largest market for hotels and hospitality businesses in the world. In a year, there is an average of 100 million tourists visiting European countries, with the Eiffel Tower in Paris, France contributing to over 15 million visitors alone.
- Total hotel rooms: There are nearly a million hotels around the world, and the total sum of hotel rooms goes up to 17.2 million.
- Largest hotels: South-east Asian countries such as Malaysia and Singapore, along with the United Arab Emirates, are the leading regions having the largest hotels in the world.
- Female-dominant: Based on the employment rate and the sex ratio, the global hotel industry has a majority of the female workforce. There is an average of 60% female employees in every hotel.
The industry is also known for having records for the largest swimming pools, tallest buildings, and the most expensive living rooms in the history of mankind.
Top 5 Myths about Hotel and Hospitality Industry
Here are the top five myths about the hospitality industry, debunked:
- Bad average pay: In the hotelling business, a graduate may start at modest salaries. While the average pay in the hospitality sector in India is dependant upon the role acquired and the responsibilities taken up, the median pay for a hospitality manager is roughly around Rs. 4,85,386.
- It’s only cooking and serving: There are more than two dozen main services offered in this industry, besides cooking and serving. Every hotel, however, does make a significant share of its revenues from serving cooked food to its visitors.
- A career for the less-smart: It is important to have good academic knowledge for succeeding in this industry. Do not choose this industry if you’re a low-scorer in academics. This industry demands hands-on experience with geography, business communication, human resource management, marketing, accounting, and multiple languages.
- Professional redundancy: This myth is busted after a year into this industry. Any employee of a hotel would agree to the fact there is a lot of scope for professional growth in this business. The hospitality line of work opens gates to a career where you get paid handsomely to work in luxurious environments.
- Long work hours: Almost every hotel hires multiple employees for the same position. It helps them balance shift-timings, keeping them running properly at any time of the day or the night. Due to the high availability of skilled professionals, the employment rate of the hotel industry stays high.
In addition to this, there are several perks of working in this industry. As an employee of leading hotel chains, you get great discounts on hotel stays for you and your families. You also get discounts on flights, food, and other amenities. Hence, the hospitality sector is filled with endless opportunities – grab them and shine forth!