TOURISM
Tourism is the sum of the phenomena and relationships arising from the interactions of tourists, business suppliers, host governments, and host communities in the process of attracting and hosting these tourists and other visitors.
This industry is a complex aggregation of many industries that together satisfy the various needs of the travellers, where every penny spent by the traveller contributes to the prosperity and development of the travel industry. Tourism is probably a rare instance 9of an industry earning foreign exchange without exporting national wealth.
COMPONENTS OF TOURISM
Transportation, Accommodation, Food & Beverages, Special attractions (Man-made resources+ natural resources) for example- parks, historical buildings, rivers, lakes, mountains, beeches, also involved with another components like activities (meetings, business trips, shopping's), essential services (Health facilities, water supply, electricity supply), etc.
THE DIFFERENCE BETWEEN THE HOSPITALITY AND TOURISM-
The hospitality industry and the tourism industry are closely connected, but there are also some subtle differences to be aware of. On a basic level, The Tourism industry is concerned with services for people who have travelled away from their usual place of residence, for a relatively short period of time.
By contrast, the hospitality industry is concerned with services related to leisure and customer satisfaction. This may well mean offering services to tourists, but it can also include the provision of services to people who are not tourists, such as locals enjoying their free time, or people coming to an area for reasons other than tourism.
Hotel market segmentation
Segmenting is a key aspect of revenue management. It allows you to differentiate between the travellers who are coming to your hotel and devise unique strategies for all of them. For example, the approach you take with young adventurers will be very different from a business professional. However, segmentation is more complex than simply business vs. leisure and you can use it to discover trends within your hotel business.
One of the best ways to identify and filter segments is by their reason for travel. Think family holiday, wedding, tourist event, adventure, relaxation, business, etc. However, more and more hotels are adopting a different strategy and defining the market segment by how a reservation was made, e.g. Expedia as a market segment. This is known as "blended segmentation" – combining the reason for stay and method of booking.