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A Profile of the Hospitality Industry by Charles G. Partlow, Betsy Bender Stringam

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CHAPTER 1

Introduction

Travel is often considered everyone’s favorite pastime.1 Thus, it is no wonder that many consider the hospitality industry to be one of the world’s biggest industries. It is estimated that 1 in 11 jobs worldwide is a part of the hospitality industry.2 So pervasive is the hospitality industry that quick service restaurants and their related franchises are considered one of America’s largest and best exports.3

The hospitality industry is generally referred to as businesses that provide accommodation and foodservice. The North American Industry Classification System coding system developed for the U.S. Census Bureau classifies Accommodation and Foodservice together. The hospitality industry is composed of several smaller industries: ...

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