The Contemporary Hospitality Industry

This presentation discusses the contemporary hospitality industry, including the impact of external factors, current trends, and the products and services offered by Rosewood. It also explores the opportunities and threats in the market and provides insights on how to adapt to the changing trends in the industry.

The Contemporary
Hospitality Industry

TABLE OF CONTENT
Introduction
Pestle analysis
SWOT analysis
Impact of external factors on development of hospitality industry
Current trends in hospitality industry
Different products and services render by company as per
external factor and current trends
Conclusion
References

INTRODUCTION
Rosewood is planning to establish its business in ASIA as large
number of tourist visit such countries for having enjoyment and fun.
Before planning to invest in ASIA investors need to know about
political, social preference and availability of technology so that
requirements of customers can be fulfilled.
Various model such as Pestle and Swot analysis will be helpful to
analysis company about market situation and current trends that can
impact operation of business in new market segment.

PESTLE ANALYSIS
There are various external environments that affects development of
hospitality industry or rosewood in ASIA that can be explained by use of
Pestle analysis model such as:
Political factors: It includes policies and procedure that need to be
followed by enterprise such as Rosewood while planning to make invest in
ASIA. Tourism helps in economic development so government have
encouraged more and more organisation to make invest so that maximum
benefits can be render to local communities. So, it has provided
opportunities to firm to expand its business.

CONT.
Social factors: Need and preference of
individual changes as per current demand, supply
and prices of products and services. They like to
have products and services that are innovative
and creative such as social media huge number of
people use social media to search various hotels,
restaurant to spend their time so Rosewood by
through its official website is able to provide
crucial information to various individual.

CONT.
Environmental factors: Lot of wastage is created by
foreign tourist so governments and local resident have
became aware and concerned about protection of natural
resources so that future generation can also have fun and
enjoyment. Rosewood have planned to take steps in
preservation of resources by optimum utilisation of
products so that need of customers can be meet.

SWOT analysis
Strength: Rosewood have strong market
presence and brand image in UK that helps it to
easily enter into new market and satisfied needs
of diverse individual.
Weakness: There are certain key areas in which
company lack such as ineffective management
that have lead to problem in accurate decision
making and delivery of services to customers.

CONT.
Threat: The biggest threat that is faced by rosewood n hospitality
industry is that increasing level of competition that have forced
company to think innovative idea to grow and sustain in market.
 Opportunities: Rosewood has opportunities to enter into market
of ASIA by use of innovative and creative strategies so that
maximum number of individual select firm as compared to other
competitors.

Impact of external factors on development of hospitality industry
There are various factors that affect
demand and supply of hospitality
industry such as preference, taste
of individual or psychological,
price, availability of substitute of
products and services, recent trends
in technology.
Different people have different
choice, taste and preference,
income level, education so all such
factors impact on demand of
organisation in hospitality industry.

Current trends and development in hospitality
There are various changes and development in hospitality industry that
need to be adapted by organisation in order to grow and sustain its
business operation such as:
Lifestyles of individual: Living standard of most of the people has
been improved due to better connectivity and innovation in technology.
They have more knowledge and awareness about innovative techniques
that can be used by enterprise to fulfil their needs. People are
demanding organic food, friendly, healthy and personalised
environment for satisfaction of their personal requirements.

CONT.
Digital technology: Most of the people
make use of digital medium in order to
connect with people that stay away from
each other or to get information about
specific things. So, digital medium have
improve their lifestyles and knowledge or
demand regarding various services such as
online booking, payment.

Different products and services render by company as
per external factor and current trends
Rosewood have provide ease and comfort to people by
offering them online services that means they can easily
make booking, review feedback of previous customers and
payment through use of digital medium.
It have ensure that equal opportunities are given to
employees and ethical practice, moral principle need to be
followed by each individual within organisation so that no
harm can be caused to other.
Take part in CSR activities and trained employees, aware
tourist to respect tradition, culture and resources of country
so that local community can be happy.

CONCLUSION
It can be concluded from above report that different factors
have positive and negative impact on organisation so marketer
researcher need to be conducted before making investment.
It can also be stated that there are various changes and
development in trends that company need to adapt in order to
sustain its business operation in competitive market condition.

REFERENCES
Tresidder, R. and Martin, E., 2018. Deviant behaviour in the
hospitality industry: A problem of space and time. Hospitality
& Society, 8(1). pp.3-22.
Daif, R. and Elsayed, K., 2019. Viral Marketing Impact on
Tourism and Hospitality Industry. International Journal of
Research in Tourism and Hospitality (IJRTH), 5(3). pp.34-41.
TAKACS, J. and VADUVA, S. A., 2017. A swot analysis of
the global hospitality industry. Revista Economica, 69(6).
Guillet, B. D., 2020. An evolutionary analysis of revenue
management research in hospitality and tourism. International
Journal of Contemporary Hospitality Management.