Hospitality management is a field that relates to the business administrative management jobs in industries relating to tourism and hospitality. Typically, those who work in the hospitality management field hold management positions in hotels, travel agencies, tourism marketing agencies, restaurants, cruises, and amusement parks.
Hotel and Lodging Management
The median salary for all hotel and lodging management jobs is $46,810 per year, which translates to $22.50 per hour. Generally speaking, managers who work for lower scale hotels will tend to make less than managers who work in high scale hotels or resorts. The job outlook for lodging managers is very slow and only stands to grow by 1% over the next 10 years.
Food Services Managers
The median salary for food services managers is similar to that of hotel and lodging managers. The median is $47,960 per year or around $23.06 per hour. Restaurant managers who work for chains are likely to make less than managers who work for independently owned restaurants. The outlook for restaurant managers is a little better than the outlook for hotel managers, but is still only like to grow by 2% over the next 10 years.
Meeting and Event Planners
Hospitality managers who specialize in event and meeting planning are likely to make about the same as hotel and restaurant managers, but the job outlook is much higher. The median salary for event planners is $45,810 per year or $22.02 per hour. Jobs for event planners, however, are expected to increase by 33% over the next 10 years, which would be around 31,000 new jobs by 2022.
Travel agents make significantly less money than other hospitality management jobs. The median salary for travel agents is $34,600 per year or $16.64 per hour. Additionally, the job outlook for travel agents isn’t good. Over the next 10 years, jobs for travel agents are expected to decline by 12%, meaning a loss of around 8,900 jobs by 2022.
In the hospitality and tourism industries, location is everything. If you work in a hotel or a restaurant right off of a highway exit in a small town, you’re not likely to make a lot of money, simply because the guests who are staying at your hotels or restaurants will be unlikely to spend a lot of money. However, if you work in a hotel or restaurant in a big city or a tourist destination, your salary will likely be higher, simply because you’re working in an area where people are prepared and willing to spend lots of money. So if you’re not limited by a location, it’s best to find a job in an area where tourism is higher.