The 5th day of class, our discussion was focused on hospitality market trends, travel and resorts industry, and international property market trends.
The first discussion was related to travel and resorts industry trends, as technology has improved, paradigm of travel industry has changed quickly, specially, in terms of economy down turn, travel industries are more focusing on reducing operating cost because increasing demands on travel are constantly limited, and increased necessity of maximize efficiency to make business feasible is not a option anymore. As we discussed in the class, increased use of social network such as face book and broadband environment provide unlimited accessibility as well as variety information associated with business, which make business travel as a option. If this trend will be retained for the future, will the travel industry keep suffering? What is the blue print of hospitality industry should be? I guess there is silver lining on travel industry, even if the demand on business travel may keep declining for the future, demand on leisure will increase at the same time.
To sum up, travel industry participants who are willing to follow this trend might be able to survive, on the contrary, travel industry participants who are not willing to follow this shift might keep struggling over time.
The next topic on class was transportation, as one of article noting that high speed train has began to progress in Florida, the importance of this shifting is what is going to be the impact on air industry and is it cost efficient to develop high speed rail corridor?
To me, the influence of high speed train would be huge in terms of time saving and cost benefit, however there are several obstacles that high speed train has to overcome in order to settle down as appropriate transportation, fist of all, railway transportation need massive infrastructure such as lands that is belong to railways, huge parking lot, and developed transportation linking home and rail way stations. Second of all, people’s preparation of driving own car might be biggest obstacle to settle down high speed train. In this context, how does high speed train cost efficient than driving car, how easily reach to destination, and how easy to use might be the key of success.
The first discussion was related to travel and resorts industry trends, as technology has improved, paradigm of travel industry has changed quickly, specially, in terms of economy down turn, travel industries are more focusing on reducing operating cost because increasing demands on travel are constantly limited, and increased necessity of maximize efficiency to make business feasible is not a option anymore. As we discussed in the class, increased use of social network such as face book and broadband environment provide unlimited accessibility as well as variety information associated with business, which make business travel as a option. If this trend will be retained for the future, will the travel industry keep suffering? What is the blue print of hospitality industry should be? I guess there is silver lining on travel industry, even if the demand on business travel may keep declining for the future, demand on leisure will increase at the same time.
To sum up, travel industry participants who are willing to follow this trend might be able to survive, on the contrary, travel industry participants who are not willing to follow this shift might keep struggling over time.
The next topic on class was transportation, as one of article noting that high speed train has began to progress in Florida, the importance of this shifting is what is going to be the impact on air industry and is it cost efficient to develop high speed rail corridor?To me, the influence of high speed train would be huge in terms of time saving and cost benefit, however there are several obstacles that high speed train has to overcome in order to settle down as appropriate transportation, fist of all, railway transportation need massive infrastructure such as lands that is belong to railways, huge parking lot, and developed transportation linking home and rail way stations. Second of all, people’s preparation of driving own car might be biggest obstacle to settle down high speed train. In this context, how does high speed train cost efficient than driving car, how easily reach to destination, and how easy to use might be the key of success.
Related to international real estate trend, we took a view of real estate market on China, Latin America, and massive project in Baghdad, The escalation of property price in major Chinese City, Beijing and Shanghai, is unprecedented so that even real estate experts are worried about rapid escalation of real estate price, however real estate expert cautiously forecast that drastic assets collapsing would not happen because the rate of debt on property is low and is still manageable.
A multi-million real estate project is on the way in Baghdad, also known as Baghdad Gate project. The project is component of high ends residential apartments, five star hotel, and luxurious shopping mall, this is the first time that massive real estate development is taking place since Saddam’s era, massive development will enhance jab creation as well as positive influence on local economy.
A multi-million real estate project is on the way in Baghdad, also known as Baghdad Gate project. The project is component of high ends residential apartments, five star hotel, and luxurious shopping mall, this is the first time that massive real estate development is taking place since Saddam’s era, massive development will enhance jab creation as well as positive influence on local economy.
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