Although countries around the world have exchanged goods and services with on another for many centuries, unprecedented opportunities for companies to expand their business globally were ushered in during the last few decades.
Globalization
Globalization continues to impact the hospitality industry. U.S. hotel and restaurant chains are establishing an international presence to serve U.S. travelers and meet the demand abroad for U.S. product Daniel Larkin, former managing director of the European practice of Price water house Coopers, said that "it will be increasingly easier for someone who has a favorite hotel brand or brands to count on it being there whenever they travel around Europe. It'll be at least ten years before Europe becomes like the U.S.,where you can find a Marriott, Hyatt, or Sheraton wherever you go, but the trend is very clear."
Globalization is a two-way street. InterContinental Hotels Group, based in Great Britain, and Accor Hotels, Europe's largest chain (bases in France) have properties throughout the world, including the United States.
