Report on Factors Effecting Demand and Supply of Five-star Hotels
Added on 2020-05-04
7 Pages1204 Words331 Views
Running Head: TRAVEL AND TOURISM SECTORTravel and Tourism Sector
2TRAVEL AND TOURISM SECTORTable of ContentsIntroduction................................................................................................................................23.1 Factors affecting tourism demands......................................................................................2Technological.........................................................................................................................2Globalization..........................................................................................................................3Macro-economy......................................................................................................................33.2 Changes in supply to meet effects of demands....................................................................4Provisions...............................................................................................................................4Product types..........................................................................................................................4Technological implements......................................................................................................4Seasonality..........................................................................................................................5Conclusion..................................................................................................................................5References..................................................................................................................................6
3TRAVEL AND TOURISM SECTORIntroductionIn current scenario, travel and tourism is the largest service industry in UK. The major aim ofthis is to promote and develop tourism sector and competitiveness of UK as destination and enhance the existing tourism goods and services for ensuring the employment and economic growth. The main aim of this report is to create understanding about the factors that affect thesupply and demand of the larger five-star luxury hotels. It also demonstrates the strategies that can be practiced by five-star luxury hotels. 3.1 Factors affecting tourism demandsThe challenging atmosphere of the tourism industry is being influenced by the demand of the consumer. Larger five-star hotels have needed to create the understanding about the factors that can influence the demand of an organization for accomplishing the specified objectives. Five-starhotels also develop their understanding regarding the strategies that will support to deal with the negative factors of the tourism. It can support to attain the organization task along with improving the productivity of firm in the long-run. The following factors affect the tourism demand:TechnologicalThe alteration the technology can reshape the business environment to influence the consumer and fulfill their consumption level. Visitors can expect the easy payment service and management to buy in the travel. They are believed in the online system and safety equipment. In case, the larger five-star hotel does not offer the online system to their consumer then it can decline the demand for tourism. In the current scenario, the consumer can expect the web interface and easy management to have the tourism services. The technical alterations can consider service related to the comfort of the consumer due to increasing the business efficiency. In addition, it can also be said that the adoption of modern technology in the tourism can be expensive for an organization. However, the technical
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