After World War II, the American hotel industry grew at a record pace, spurred by the three-decade economic boom that pushed incomes sky high and increased commercial travel. The rise of organized labor helped to redistribute wealth more evenly and the interstate highway system and reliable passenger air travel made traveling easier. As the hospitality industry grew, it became a significant domestic political issue.
Cancellation policy
Cancellation policies for traveling and hotels can vary widely, even within the same company. They may differ by season, room type, and length of stay. Some companies even give travelers the option of choosing a refundable or nonrefundable rate. Consumers who have problems getting refunds may file a complaint with the Department of Consumer Protection.
Travelers should also check their insurance policy to see if any cancellation charges are allowed. Some insurers will reimburse any cancellation fees. Cancellations should be made at least 24 hours before the scheduled departure of the airline. In some cases, the cancellation fee will be equal to the full amount of the ticket.
Cost
As the summer season nears, the cost of traveling and hotels is expected to rise. This increase is due to high labor and supply costs and increased consumer demand. According to the March Travel Price Index, travel prices rose by 8.5 percent, and hotel rates by 11.7 percent. Despite these rising prices, many travelers are willing to pay the higher costs to have a better experience.
Choosing the right hotel is an important aspect of traveling. Apart from the cost, one should also consider the location and nearby activities.
Diversity initiatives
The hospitality industry is increasingly placing a high value on diversity initiatives. By ensuring that the workforce reflects the diversity of its target market, companies are better able to attract and retain the best talent. Additionally, diverse workforces are more productive, which reduces turnover and fosters a better working environment. Diversity initiatives can also boost a company’s growth and profits.
To improve diversity, executives need to create an employer brand that appeals to diverse talent. This means creating scouting systems and listening posts that will lead to the discovery of up-and-coming diverse talent. The travel and hotel industry has some challenges to overcome, but there are plenty of opportunities for leaders to take the first step in increasing employee diversity.