Skip to main content

Let's Hope for a Better Year in 2011

The Lunar New Year starts on February 3 in 2011. Many Chinese are hoping this year, which is the Year of Rabbit, will bring them better fortune and help them recover from the recession. According to some Feng Shui masters, the Year of Rabbit means somewhat conservative prospective. Usually, a rabbit makes a move, then stops and looks round the surroundings (to make sure everything around him/her is safe), and finally makes another move. Similarly, the market is predicted to move upward, and then pause for a while before the market moves to an even upper level. Is that truth? Honestly, I don’t know, but I can tell you what the survey says.

It is reported in this MSNBC News video that 2011 will be a better year for the travel and tourism industry. Both business and leisure travelers are expected to travel more often and spend more in the upcoming year than in 2010. Since the first quarter of 2010, I personally have heard quite a few hotel managers telling me that their business was doing better than it was in 2009. I also read a recent employment report, stating that hospitality companies are hiring more in the last couple months. However, a challenge remains as travelers are looking for “value” or “bargains” before they hit the road.

Here, I would like to claim that I am not trying to promote Chinese Zodiacs by any means. It is your personal decision of whether to believe in those Feng Shui masters or Chinese Zodiacs. My questions are: in your opinions, will 2011 be a better or a worse year for the hospitality and tourism industry? Why? What are some of the biggest challenges the industry will face in 2011? What are the strategies a hotel, a restaurant, an event planner, or a hospitality company in general can take to face those challenges?

 

Comments

  1. As of now, I cannot really tell if this year will be better or not. I've received a call a few days ago from my mom about not having to go to work because there's not work for her to do. She works in a clothing factory and she's the only one supporting my family. So she was really worried about paying for my textbooks and whatnot. So from that, I'm leaning more towards the year is getting worse. I think the industry will face financial challenges just because traveling in general is expensive as well as hiring new and more workers. Since hospitality businesses are labor intensive, it is definitely a management challenge for having the workers to have a fix scheduled hours/day in order to be consistent with forecasted revenues and monitoring payroll cost daily. Some strategies a manager can take would be using financial tools to utilize modern-day management and accurately predicting the economic fluctuations.

    ReplyDelete

Post a Comment

Popular posts from this blog

Luxury vs. Millennials and Their Technology: The Ritz-Carlton (By Julia Shorr)

Embodying the finest luxury experience, The Ritz-Carlton Hotel Company, LLC has been established since 1983. In 1998, Marriott International purchased the brand offering it more opportunity for growth while being independently owned and operated. They are known for their enhanced service level as the motto states, “Ladies and Gentlemen serving Ladies and Gentlemen”. The luxury brand now carries 97 hotels and resorts internationally and is attempting to keep the aspects of luxury while keeping up with the trends of the technologically improving generations. The Varying Demographics of the Target Market The Ritz-Carlton’s typical target market includes: business executives, corporate, leisure travelers, typically middle-aged persons and elders, and families from the upper and upper-middle class section of society .   This infers a large range of types of travelers in which all are similar in that they are not opposed to spending extra for the luxurious ambiance. However, with

The challenges of SB 93 (California Senate Bill No. 93) will impose on the employers and their human resource management team (by Brittany Schaffer)

The COVID-19 pandemic started in early 2020, and it has caused massive changes within a short period of time. One of the most rememberable effects of the COVID-19 pandemic was that businesses had to come to a complete halt, forcing them to lay off employees. California's unemployment rates went up.  Now that the stay-at-home orders have lifted, people start to come out. Businesses are now reopening, looking to rehire their laid-off employees. Before the pandemic, employers had the option of recalling only a certain number of laid-off employees they would want to rehire based on employees' job performance. That option had been changed after Governor Gavin Newsome signed into law - Senate Bill 93, which went into effect on April 16th, 2021. The California Senate Bill No. 93 (SB 93) According to SB 93, companies in specific industries, mainly the hospitality industry, have the obligation to provide job opportunities in written form to qualified employees being laid off due to COVI

The complicated situation of tattoos in the workplace (by Harry Law)

Tattoos are a form of expression that convey the individuality of their owners. They can represent a multitude of things, like a tie to a family member, a favorite quote with a special meaning, or even a favorite cartoon character. Tattoos also can carry great cultural and/or religious significance. Every tattoo is unique and says something about the individual person who wears it. The problem that many companies face is when a tattoo is considered appropriate and when it should be covered.  Employees are after all the faces of a company, so the tattoos on their bodies are connected to and represent that company as well. Some workplaces have instituted rules and regulations when it comes to their employees’ tattoos, but there can be negative consequences when a company goes too far in telling their employees what they can and cannot do with their own bodies. The Disney Company has recently changed its policy on tattoos. Disney’s goal is to create a magical, fantasy experience for their