Alick Miskin, director of diversity services at Grass Roots, looks at how the industry can rise to the challenge of Olympic hospitality
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The London 2012 Olympics is a huge opportunity for the leisure and hospitality industry, but it will also bring its challenges as we prepare for the influx of a diverse mix of tourists, sporting competitors and support staff visiting the Games.
Our recent Channel Vision study of 123 businesses found that more than half believe it isnt appropriate to have a catalogue. Interestingly a good tranche of these were drawn from the travel industry which has historically been a big user of catalogues. The research found that instead, businesses in the sector are focusing their efforts and resources on e-commerce.
People aged 65+ and those with pre-existing medical conditions are struggling to find travel insurance at the time of travel. Those that do find travel insurance often end up paying over the odds.?
"You are only as smart as your dumbest competitor" ? this truism cuts across every industry and has stood the test of time. When one competitor panics and cuts prices, it often leads to a downward price spiral whereby others are compelled to cut prices or risk losing market share and revenue. Low prices are great for customers but for businesses, they are often the path to mutually assured destruction and long-term losses.
When it comes to airlines business models, theres no question that the last decade has been filled with turbulence ? just pick your poison: rising fuel costs, political unrest, and a sluggish global economy. Fortunately ancillary revenues have done much to re-write that gloomy narrative.