Economic Principles for the Hospitality Industry is the ideal introduction to the fundamentals of economics in this dynamic and highly competitive sector. Applying economic theory to a range of diverse and global hospitality industry settings, this book gives the theory real-world context. Looking at critical issues around sustainable economic development in the hospitality industry such as diversification, technology, determinants of demand, and pricing, it enables students to effectively conduct business analyses, evaluate business performance and conduct effective improvements over time. Written in an engaging style, this book assumes no prior knowledge of economics and contains a range of features, including international case studies and discussion questions, to aid beginners in the subject. This will be an essential introductory yet comprehensive resource on economics for all hospitality students.

Sustainability is one of the single most important global issues facing the world. A clear understanding of the issues surrounding climate change, global warming, air and water pollution, ozone depletion, deforestation, the loss of biodiversity and global poverty is essential for every future manager in the hospitality industry. Present and future hospitality executives need to know how sustainable management systems can be integrated into their businesses while maintaining and hopefully improving the bottom line. Sustainability in the Hospitality Industry, second edition, is the only book available to introduce the students to economic, environmental and social sustainable issues specifically facing the industry as well as exploring ideas, solutions, and strategies of how to manage operations in a sustainable way. Since the first edition of this book there have been many important developments in this field and this second edition has been updated in the following ways: updated content to reflect recent issues and trends including hotel energy solutions and green hotel design two new chapters on 'Sustainable Food' and 'Social Entrepreneurship and Social Value' updated international case studies throughout to explore key issues and show real life operational responses to sustainability within the hospitality industry. New case studies on growth hotel development markets, Asia and the Middle East new practical exercises throughout to apply your knowledge to real-life sustainability scenarios. This accessible and comprehensive account of Sustainability in the Hospitality Industry is essential reading for all students and future managers.

For courses in Introduction to Revenue Management. The first of its kind, this book was written to address the emerging course in Hospitality focused on revenue management. Based on the authors’ years of industry experience, this book includes a model for understanding the revenue management process and reveals four basic building blocks to revenue management success. With chapters dedicated to consumer behavior, economic principles, and strategic management, it outlines key processes and stages of revenue management planning. Four unique application chapters tailor concepts to specific segments of the industry and professional profiles help students learn about possibilities within the field. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

This text seeks to raise the curtain on competitive pricing strategies and asserts that businesses often miss their best opportunity for providing consumers with what they want - an experience. It presents a strategy for companies to script and stage the experiences provided by their products.

Economic principles inform good business decision making. Although economics is sometimes dismissed as a discourse of practical relevance to only a relatively small circle of academicians and policy analysts who call themselves economists, sound economic reasoning benefits any manager of a business, whether they are involved with production/operations, marketing, finance, or corporate strategy. Along with enhancing decision making, the field of economics provides a common language and framework for comprehending and communicating phenomena that occur within a business, as well as between a business and its environment. This text addresses the core of a subject commonly called managerial economics, which is the application of microeconomics to business decisions. Key relationships between price, quantity, cost, revenue, and profit for an individual firm are presented in form of simple conceptual models. The text includes key elements from the economics of consumer demand and the economics of production. The book discusses economic motivations for expanding a business and contributions from economics for improved organization of large firms. Market price quantity equilibrium, competitive behavior, and the role of market structure on market equilibrium and competition are addressed. Finally, the text considers market regulation in terms of the generic problems that create the need for regulation and possible remedies for those problems. Although the academic literature of managerial economics often employs abstract mathematics and large corporations create and use sophisticated mathematical models that apply economics, this book focuses on concepts, terminology, and principles, with minimal use of mathematics. The reader will gain a better understanding of why businesses and markets function as they do and how those institutions can function better.

Improve your professional management vocabulary with definitions in each chapter, and a complete glossary of terms. Visualise key concepts with over one hundred explanatory diagrams Gain confidence by testing your understanding on the accompanying website Practical applications of theory are illustrated in international case studies throughout the book Discussion questions prompt an exploration of key concepts

"This book provides contributed chapters on not only the tourist experience but also the growing importance in the economy in tourism and addresses issues such as tourism planning, innovation, and development, both at product and destination level, include the design of unique, memorable, and authentic experiences in order to assure tourism competitiveness"--

Looks at both specific sectors of the Hospitality industry, such as restaurants, cruises, hotels and contract foodservice. This book highlights the key issues that are encountered within every sector of the industry - operations, IT, marketing and HR among others - thereby providing the reader with an overview of the field.

This ground-breaking research represents the most complete collection yet on how the hospitality industry is addressing sustainability and ethical issues. Covering supply chain management, innovative sustainability initiatives, CSR programmes, biologically-respectful tourism and Value Creation, Sustainability in Hospitality: How Innovative Hotels are Transforming the Industry presents valuable global viewpoints on embedding sustainability into all aspects of the hospitality industry, and the impact this could have on transforming the sector into an advocate for more sustainable, eco-conscious tourism.The chapters in this edited collection span organizational governance, human rights and labour practices, environment and climate change, fair operating practices, stakeholder engagement, CSR and strategic management. The global reach of the collection brings case studies from China, the US, the UK, Mexico and Italy, while company case studies include Fairmont Luxury Hotels and Sextantio.Sustainability in Hospitality: How Innovative Hotels are Transforming the Industry will be an essential read for academics researching the development of ethically-conscious and sustainable hospitality, and for hotel managers and group CEOs who want to know how sustainability and CSR can be embedded in their day-to-day operations.