Impact of 2012 Olympics on Hospitality Essay
2012 Olympics and its impact on the hospitality industry of London.
Research Background / Context
On 6th July’ 2005 London was selected as the host city for the 2012 summer Olympic and Paralympics Games. The games is often labelled as the “greatest show on earth” which involves thousands of sports persons both men and women from around the globe aiming to reach the ultimate in sporting achievement. The Olympic Games will take place entirely in London, but the bid team had stressed throughout their campaign that the games would benefit the whole of Britain.
The proposed research is on the impact of the hosting of the 2012 Olympics in London and its impact specifically on the hospitality industry. Other …show more content…
According to Manson, Hospitality industry is diverse and falls in to two sectors viz. Commercial and Welfare, the distinguishing factor being the relationship with the customer. In the Commercial Sector, customer exercises freedom of choice in deciding which hotel, café, restaurant, bar or club to go to. In the Welfare sector customer is usually part of a captive audience and element of choice is removed in case of NHS Trust Hospital, prison, nursing home, school or the armed forces. The Commercial sector is profit driven, Welfare sector is characterised by cost recovery principles.
According to Mason, The UK hospitality industry is a diverse mix of large medium, small and micro sized enterprise scattered across the country. It is estimated that 96% of the hospitality industry is made of micro (employing upto 9 people) and small (employing upto 99 people) business. These account for 75% of all employees in an industry which like the allied areas of leisure and tourism is dominated by the service sector.
The UK hospitality industry has experienced continued annual growth in employment opportunities and the billions