Hospitality Malta 02 - Page 7

from the Editor Chev. Anthony C. Coleiro the significant growth our Industry is experiencing A s in all other countries, our hospitality industry too is made up of companies within the food services, ac- commodations, recreation, and entertainment sec- tors. The hospitality industry is a several billion dol- lar industry that mostly depends on the availability of leisure time and disposable income. A hospitality unit such as restaurant, hotel, or even an amusement park consists of multiple groups such as facility main- tenance, direct operations (servers, housekeepers, porters, kitchen workers, bartenders, etc.), manage- ment, marketing, and human resources. HOSPITALITY MALTA Usage rate is an important variable for the hospitality industry. Just as a factory owner would wish to have his or her productive asset in use as much as possible (as opposed to having to pay fixed costs while the fac- tory isn’t producing), so do restaurants, hotels, and theme parks; they seek to maximise the number of customers they “process”. In viewing various indus- tries, paying heed to barriers to entry for new players and competitive advantages between current players is fundamental to one’s survival, let alone growth. Among other things, hospitality industry players find advantage in old classics (location), initial and on- going investment support (reflected in the material upkeep of facilities and the luxuries located therein), SEPTEMBER | 2017 5