Analysis of Aspects in the Hospitality Industry Essay

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Business Management

In the present day, casino resorts are amidst the most perceptible hospitality business operations across the world. The casino industry has had an astonishing and remarkable growth over the years. In particular, the casino industry is by far one of the most considerable developments in the hospitality industry, in the course of the past thirty years or so. Its coming together with the lodging and hospitality industries has been significant and astounding. It can easily be pointed out that the biggest hotels across the globe are casino resorts, which are located in the Strip of Las Vegas (Walker, 2013).

Some of the aspects that sets apart the casino industry from other hospitality entities, and gives it a competitive advantage is that aside from the casino itself, the industry offers a full spread of entertainment, lodging, food and beverage, and also retail services. Different from other hospitality entities, the casino industry is largely known for its volatility. The managerial team of a casino has to be appreciative of the nature of volatility of the business (Walker and Walker, 2013). It is imperative to note that simply because the casino department reports a net loss for a certain shift, it does not give the implication that there is inefficiency or incompetency, within such a department.

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This might just be a manifestation of volatility. In addition, another aspect that sets casinos apart is comps. These are complimentary goods and services offered to casino patrons with the main purpose of attracting and appealing their business operations. Comps can be found essentially in every casino. Different from other hospitality entities where comps are offered mainly as part and parcel of the service recovery to compensate for a consumer service letdown or other catastrophe, comps are disseminated as a normal measure of a casino's business operation (Walker, 2013).

The casino industry has fundamentally grown and developed over the years, owing to the convergence of the industry to lodging, and hospitality industry services. This in turn brings about several diverse kinds of casino operations. For instance, one can have a gaming tavern, which is basically a characteristic bar and restaurant with electronic gaming devices, which are mostly slot machines. On the other hand, the industry also has effusively advanced casino resorts, which include dozens of table games and thousands of slot machines, over three thousand hotel rooms, more than ten bars and restaurants, and facilities….....

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