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As the final page turns on this millennium, the hospitality industry will find itself in a competitive landscape that is greatly altered by new technologies, business practices and consumer demands. Indeed, this decade stands as a bridge between the socioeconomic forces that shaped the Industrial Age and the emerging capabilities and markets of the Information Age. There is thus a pressing need for executives leading the hospitality industry into the next century to define how their companies can marshal change in support of competitive advantage. In response, Arthur Andersen and New York University have undertaken a global research study Hospitality 2000: A View to the Next Millennium to identify major trends and strategic issues that will shape the international hospitality industry of the future. The study is the first of this scope ever completed in the hospitality industry. The survey results span five continents, delineating key issues that will define success for companies in the hospitality industry for years to come. More than 4,000 surveys were sent to hospitality industry leaders worldwide. Some 500 responses were received from hospitality industry CEOs, corporate executives, and general managers based in three regions: the Americas; Asia/Pacific; and Europe, the Middle East, India and Africa (EMEIA). The Hospitality 2000 study examines five key areas the market, products, organization, capital and technology. In this period of global transition, these factors will not only define success, but will influence the very ability of hotel organizations to survive in coming years. This article highlights preliminary findings of the study. The final report, Hospitality 2000: A View to the Next Millennium, includes survey statistics and findings, analysis and case studies, which review the activities of those hotel companies that are at the forefront of new ideas and applications that will prepare this industry for the future... To read the complete
article, click here to download the printable pdf file (104 kb).
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