Monthly Archives: May 2018

Information Technology In Hospitality Industry

Traditionally, hotels were largely dependent on cards and paperwork at the front desk to keep in touch with old and current customers. They were largely at the mercy of the desires of vacationers to arrive, and on their own efforts and staff to be ready for potential surges or long droughts of occupancy. Luckily, such inconvenience and old-fashioned methods are long since past, thanks to advances in information technology.

The first area in which information technology became important was in regards to billing. Old-fashioned paper-based book-keeping was time consuming and inefficient, and was not able to quickly tell a hotel owner what the situation of their hotel was. Luckily, advances in modern record keeping allow for a hotel owner to keep track of what they have on hand, how much of it they have, and how much it costs. Accounting is complicated, but advanced accounting software, especially that tailored to the unique needs of the hospitality industry, helps to enable hotel owners to make smart decisions. Services and products that are no longer used can be quickly cut off to save money, while those who show demand can be increased in quantity or modified so as to reduce the heavy usage.

Most hotels are familiar with booking rooms and reservations over the phone, but information technology has expanded well beyond that. Hotels can now work with various online travel companies and booking services to have their rooms booked online, with no need to employ expensive staff. This also allows a hotel to advertise their open rooms and special deals directly to persons who would be most likely to purchase them, instead of wasting lots of money advertising in an unfocused manner. High quality information technology thus allows for better arrangement and management of bookings in order to allow a hotel to better maximize occupancy, and to know in advance when large groups or lean times are approaching. This allows a hotel manager to make plans regarding temporary staff, good times to renovate or expand, or other concerns, because he/she can determine the state of their hotel currently and for the next few months with only a few clicks on the computer.

The advances in information technology extend well beyond booking, however. The internet is essential for vacationers who wish to contact those back home, and for those traveling on business to get in touch with the office. Therefore, wireless internet has become a very common and very useful service for hotels to provide. Many business minded persons even require that a hotel offer internet services so that they can keep working while on the road. Luckily, such services are easy to provide, as all that is required is a wireless router and various devices to ensure the entire hotel is filled with the network. Modern advances in wireless internet also allow for the wireless internet provided for hotel visitors to be used to network the hotel itself. Security cameras, door locks, and other devices essential to hotel security and safety can be wired into the network, so that staff are alerted whenever a door is propped open, a fire alarm goes off or suspicious activity occurs. Though the hotel guests are wholly unaware of it, this sort of added safety and security keeps them safe, and in the event of a problem they will most certainly appreciate the benefits of such a system.

As advanced as it is, information technology in the hospitality industry is still going forward. Intelligent booking systems enable rapid and efficient guest feedback, along with the ability to predict who is likely to use the hotel again and inform them via e-mail or text messages when good deals arrive. Hotels with room service or other guest services can offer their menus online, allowing for quick updates, high-quality photos, and other ways to allow guests to see and order services before they even arrive. There are also advances in terms of payroll and inventory which make information technology a valuable asset for saving money and maximizing profits. The unique nature of the hospitality industry makes it a great place for new and emerging information technology, and forward-thinking hotel owners and managers are always looking for smart equipment and software to invest in.

How Much Is The Golf Industry Worth

Golf….You’re thinking Tiger Woods, groomed courses and televised tournaments, the swing of the club, the sound of the ball hitting the bottom of the cup and the sweet smell of freshly mowed greens. However, economists think of something different- they think of 62 billion dollars!

This figure was calculated by GOLF 20/20, a project focusing on the golf-industry and its growth and run by the World Golf Foundation.

Sixty-two billion dollars is not how much it costs these economists to play golf, but is instead the figure representing the total worth of the golf industry (as of 2000). This staggering figure sums up golf facility operations, investments in courses, supplies, media, tournaments and charities as well as hospitality, tourism and real estate.

GOLF 20/20 was conducted by an independent research SRI International and was presented by Peter Ryan at the annual GOLF 20/20 conference, appropriately held in St. Augustine, Florida. The World Golf Foundation sponsors GOLF 20/20 in order to help grow the sport, and 2002 marked the first release of an estimate of the overall value of the industry. This estimate will help predict the growth of the game in years to come.

So far, past estimates have been overtaken by actual growth. In the past fifteen years the golf industry has grown so rapidly that it outran inflation and blew away estimates made in the 1980s. According to this growth, it is estimated that the industry will hold 55 million participants by 2020. Compared to other industries such as sound recording and the amusement, gambling and recreation industry, the golf industry is around $10 billion ahead.

A large amount of the golf industry depending on charitable golf tournaments, of which there were over 140,000 each year in the United States as of 2002. In total, around 15 million golfers participated in these events in 2002 grossing over $2.9 million for charity. Professional golf tournaments alone generate between $75 and $100 million, leading to an estimated total of $3,225,000,000, not including contributions made by corporations within the golf industry.

The 2002 Golf economy report (also generated by GOLF 20/20) suggests about 36 million people participated in the golf industry in that year and over 15,000 regulation courses exist for these millions of participants.

Within the golf industry, two different industries are cited by the 2002 study. First are the “core” industries of golf courses, golf wear, golf equipment, and anything else directly created for the sole use of the golf industry. The second industry includes media while real estate, tourism and travel, making up the “enabled” industry relying on golf for a large amount of business.

The core industries within golf generate the bulk of its value at $38.8 billion, while the enabled industries generate the remaining $23.4 billion.

In 2002 the total expense of golf supplies, equipment, apparel and books or magazine ended at $6 billion with the apparel market alone generation $1 billion. This marks an 11 percent growth in the golf apparel market since 1984.

Major golf tournaments grosses $871 million in 2000, as generated by fees, broadcast rights costs, corporate sponsors and spectator tickets and merchandise sales. Individual golfer endorsement earnings together were worth $225 million, also contributing greatly to the golf economy.
Finally, the real estate industry has generated $264 billion in new home construction on golf courses. The 1.5 million homes constructed in 2002 to make this total increase in value due to their location on or near a golf course.

All in all, the golf industry provides much more than an enjoyable game. This industry significantly contributes to the world economy through direct and indirect means and provides for wonderful entertainment to millions. GOLF 20/20 will continue to track the golf industry and look forward to rapid growth in the coming future.