Hospitality 2010: The Future of Hospitality and Travel

Citation

Alecia, C.D. and Elaine Mills, J. (2007), "Hospitality 2010: The Future of Hospitality and Travel", International Journal of Contemporary Hospitality Management, Vol. 19 No. 1, pp. 94-94. https://doi.org/10.1108/09596110710724224

Hospitality 2010 presents a comprehensive discussion on the future of travel and on the significance of industry forecasts for hospitality and tourism organizations to stay ahead in an increasingly competitive business environment. Through an examination of current and foreseeable trends, the authors are able to deliver a promising picture of the future course of the hospitality and travel industry. The text, while not strictly pedagogical, is designed to target industry leaders and academicians. While not discounting its importance and applicability for hospitality, tourism, and travel decision makers, this text should be especially valuable for graduate courses and senior level undergraduate courses designed for discussing specific management problems in the hospitality and tourism industry.

Organized in two main sections. Part 1, titled “Common Concerns for the Hospitality Industry”, introduces readers to forecasting techniques used by strategists. The authors also discuss their views on global prosperity and its implications for the travel industry. Part 1 concludes with a description of the relationship between terrorism and tourism while also identifying vulnerabilities characteristic of hospitality and travel businesses. As a supplement to Part 1, readers will find elaborate deliberations on key trends and indicators in Appendix A, “52 Trends Now Shaping the Future”, and Appendix B, “Vital Signs for National Security.”

Part 2, titled “Sector Forecasts”, presents a practical approach to forecasting in the travel industry. Particularly, the authors focus on sub‐sections of the industry such as travel, meetings, cruises, airlines, and restaurants. The authors foresee exponential growth for travel arising out of the Asian middle class with specific reference to Chinese, Indian, and Japanese outbound travellers. Other prospects such as the strengthening US economy and the changing demographic profile of meeting attendees are also identified for the meetings market, which is currently challenged with shrinking profits and lead times. Encouraging arguments are also presented for the fast growing cruise industry, but the authors caution that a ship of “happy prosperous vacationers” is an ideal target for international terrorists. Next, an analysis of the ailing airline industry exposes the root causes of the current state of airlines, such as the September 11 attacks, the SARS epidemic, and the soaring price of crude oil. The authors also examine the restaurant industry, where diners are seen as the catalyst towards change because of their travel patterns, eating habits, expectations, and lifestyle. In concluding Part 2, the authors create several probabilistic scenarios for the travel industry based on today's realities.

Undoubtedly, the authors have created a futuristic playing field that will challenge educators and their students to seriously step outside of the comfort zone of analyzing yesterday's business decisions while equally challenging today's hospitality leaders with charting the strategic directions for tomorrow. The international focus of the text will give readers an insight into the ramifications of the trends and forecasts discussed for the global travel industry.