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• 8 Accomodation

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• Why are medium-sized companies vulnerable to takeover or failure?

  they do not have the market strength, productivity and economies of scale of the large chains.

• What is an advantage of a bed and breakfast?

  Provide a genuine feeling and flavour of the destination

• What is the advantage of a homestay?

  Allowing tourists to understand local ways of life, cusine and culture

• What is a VFR

  visit friends and relative market

• Name two key issues for the food service industry

  1. Labour supply and the quality of jobs on offer
  2. Their sensitivity to economic conditions for demand

• What is the hospitality organization on international and national level?

  International = IHRA (International Hotel and Restaurant Association)
  National = Each country has its wown set of organizations.--> NRA - national restaurant association. AH&LA --> American Hotel and Lodging Association.

• Hospitality busniesses look beyond domestic markets to international expansion. This has led to which approaches?

  1. Development of standardized products
  2. Development of locally sensitized products and locally designed hotels

• What are strategic options for hospitality businsses to foncus upon when creating market and revenue growth?

  - Management contracts --> bringing guaranteed operating standards and good practice. 
  - Franchising --> franchisor granting the rights to a product format to a franchisee, and the right to distribute its products or services. 
  - Consortia --> Lack of marketing and purchasing power, resources are pooled for purchasing and marketing.
  - Contract catering --> use contract caterers to provide 'cook chill' meals

• What is the advantage of management contracts?

  The owner supplies the fixed assets including the property and grounds, whilst the operator undertakes operation of the property for an agreed management fee.

• What is the benefit of franchising?

  The franchisor can grow their concept rapidly using investment from the franchisee.