The International Hospitality Business

Kaye Sung Chon, Lawrence Yu

Contents
Preface



Acknowledgments
Part I: An Overview of the International Hospitality Industry
Chapter 1: The Hospitality Industry As an International Business
The Hospitality Industry As an International Business
Learning Objectives
Introduction
International Business
Shift Toward Service Industry
The Hospitality Industry as a Service Export
Service Industry Earnings
International Travel and Hospitality
Motivations for Global Expansion
Summary
Study Questions
Case Study: Euro Disney Resort
Chapter 2: The Geography of International Hospitality Development
Learning Objectives
Introduction
Geographic Location and World Time
Absolute Location and Relative Location
World Regions
World Regional Travel and Hospitality Patterns
Most Internationalized Hotel Companies
Major International Food Service Companies
Regional Expansion and Competition
Summary
Study Questions
Case Study: McDonald’s Global Expansion Formula
Part II: Differences in Cultural, Political, and Economic Systems
Chapter 3: Cultural Environment
Learning Objectives
Introduction
Defining Culture
Cultural Values and Norms
Cultural Values and Their Influence on Management
Cross-Cultural Communications
Cultural Generalization
Learning Culture
Summary
Study Questions
Case Study: Cultural Diversity at Nikko Hotels International
Chapter 4: Political Systems
Learning Objectives
Introduction
Differences in Political Systems
International Relations Among National Governments
National Tourism Policy
Politics and Business Ethics
Nationalism
Political Risk Assessment
Summary
Study Questions
Case Study: Sonesta International Hotels --Responding to a Crisis
Chapter 5: Economic Systems
Learning Objectives
Introduction
Different Economic Systems
Level of Economic Development
Useful Economic Data
Assessing Economic Risk
Economic Dimension of Tourism and Hospitality
Economic Policies on Hospitality Development
Summary
Study Questions
Case Study: The Change of Goverment Policy on Expatriate Hotel Managers in Indonesia
Part III: Organizational Structures and Development Strategies
Chapter 6: Market Entry Choice and Organizational Development
Learning Objectives
Introduction
Market Entry Choices
Hospitality Organizational Structures
Summary
Study Questions
Case Study: Franchising --A Market Entry Choice Used by Choice Hotels International in the Early 1990’s
Chapter 7: Learning Objectives
Introduction
Hotel Development Plan
Infrastructure Development
Hotel Design
Hotel Construction
The Trend of Ecoresort Development
Summary
Study Questions
Case Study: Ecoresort --Dollars, Sense, and Environment
Part IV: Hospitality Management Functions
Chapter 8: Legal Environment
Learning Objectives
Introduction
Major Legal Systems
International Laws and Organizations
Case Study: The Use of the Conrad Hilton Name
International Dispute Resolution
Summary
Study Questions
Case Study: Raymond Dayan v. McDonald’s Corporation
Chapter 9: Financial Management
Learning Objectives
Introduction
The Foreign Exchange Market
Other Foreign Exchange Contracts
Currency Convertibility
Foreign Exchange Restrictions by Government
International Financial Markets
Foreign Exchange Exposures
Managing Foreign Exchange Risk
Capital Budgeting
Summary
Study Questions
Case Study: The Impact of Rupiah Devaluation on International Hotel Operations in Indonesia
Chapter 10: International Accounting and Taxation
Learning Objectives
Introduction
International Accounting
General A