Hávamál - verse 2 to 5: about guests

Here are a few words from Hávamál about guests.

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2.
Hail, ye Givers! a guest is come;
say! where shall he sit within?
Much pressed is he who fain on the hearth
would seek for warmth and weal.

3.
He hath need of fire, who now is come,
numbed with cold to the knee;
food and clothing the wanderer craves
who has fared o'er the rimy fell.

4.
He craves for water, who comes for refreshment,
drying and friendly bidding,
marks of good will, fair fame if 'tis won,
and welcome once and again.

5.
He hath need of his wits who wanders wide,
aught simple will serve at home;
but a gazing-stock is the fool who sits
mid the wise, and nothing knows.

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I guess this section talks about how one should treat a guest, and what; once under your roof, the guest needs. He should be fed, get a chance to wash up, and to sit by the hearth to get warm again, hes got a reason for coming and should get the chance to discuss his business.

Today I suppose we still feel this way -we offer our guests something to drink, for instance. But it's worth considering how we treat our guests. When farms were few inbeteen and far away from eachother, one put another value to having guests I think... What are your thoughts about this part of Hávamál?