The hospitality industry is influenced by many outside market forces. The availability and cost of transportation and travel affects the hospitality industry. Distribution is a key factor in the hospitality industry, and technology is bringing radical changes to the processes and expectations for both hotels and restaurants. The hospitality industry has many competing substitutes.
Demand for the hospitality industry is strongly influenced by the availability and pricing of travel.1 Throughout the 1800s, when train travel became more efficient and economical, hotel demand in cities close to rail lines increased.2 Today high speed rail has helped to increase demand for hotels and restaurants in Western Europe and ...
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