Tourism, Hospitality & Leisure
At times like this, it is easy to dwell on the challenges facing the Tourism, Hospitality & Leisure industry. While it would be foolish to downplay the impact of issues surrounding branding, operational excellence, asset ownership, emerging technologies, and growth, we would like to remind you of some more positive points.
Challenge and Opportunity
At times like this, it is easy to dwell on the challenges facing the Tourism, Hospitality & Leisure industry. While it would be foolish to downplay the impact of issues surrounding branding, operational excellence, asset ownership, emerging technologies, and growth, we would like to remind you of some more positive points.
Tourism, Hospitality & Leisure is the largest industry in the world – accounting for almost 11 percent of world GDP (source: World Travel and Tourism Council). Once consumer confidence has returned and the conflict in the Gulf and the SARS threat has been resolved, all signs point to this industry growing faster than almost any other. The industry will bounce back. But how can your company best survive and progress in these difficult times?
Our Tourism, Hospitality & Leisure team like to see the industry’s current challenges as opportunities. We are helping businesses use new products and services, emerging technologies, and a renewed commitment to the customer to successfully compete in a tough market.
Some of the areas we are focusing on are:
- Sophisticated customers. Creating customer loyalty amongst savvier consumers is difficult. Operators need to get to grips with issues including the aging population, youth’s high disposable income, and eco-tourism to redefine products and services.
- Return to core competencies. As distribution channels waver, companies must focus on their core products and services.
- An integrated customer experience. Both the business and leisure customers view the various segments of the industry as providing one single experience. But the customers of any one sector are typically customers of others. A focus on offering them integrated solutions will maximise customer loyalty.
Contact Us
Why Parker Russel Horn of Africa?
Making sound business decisions requires reliable financial reporting information. We work with all types of organizations, from the small to the large global companies, to help business leaders and stakeholders in all industries to communicate a fair picture of their financial performance.
Our experienced, trusted advisors can help with a variety of complex business issues and transactions. With our know-how, we can make recommendations for your organization’s finance function efficiency, articulate effective employee benefits programs, or realize value out of large volumes of data.
