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Business Environment - Hilton Hotel

   

Added on  2020-10-23

9 Pages2662 Words330 Views
Leadership ManagementPolitical Science
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BUSINESS ENVIRONMENT
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Table of ContentsINTRODUCTION...........................................................................................................................................3TASK.............................................................................................................................................................3a.) Key macro issues in Travel & Leisure sector.......................................................................................3b) Potential impact of macro issues at micro level..................................................................................5C) Challenges faced during task and ways to overcome these challenges...............................................6CONCLUSION...............................................................................................................................................8REFERENCES................................................................................................................................................9
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INTRODUCTION There are many internal and external factors that have high influence over overalloperations of firm (Robinson and et.al., 2016). Present study is based on travel and leisure sectorthat includes cruise, hotels, restaurants, airlines etc. Assignment will be based on Hilton hotelthat provides luxurious services to consumers across the world. Report will explain key macroissues that are significant for this industry. Furthermore, it will describe potential of these issuesat micro level. Assignment will discuss two challenges and will suggest ways to overcome thesechallenges. TASKa.) Key macro issues in Travel & Leisure sectorTravel and leisure industry contributes well in economic development of nation. It isdynamic sector that has largest commodity of export. But this industry is facing many keychallenges that affects its overall performance to great extent (Mhlanga and Steyn, 2017). It isessential for travel and leisure sector to understand these elements and prepare strategies to dealwith it. These key issues are explained as below:Political issuesThis is considered most essential element for any business to run its operationssuccessfully. Political stability, condition of government determines overall image of anydestination. Most travelers like to go to such locations where political conditions are stable andauthorities are paying more attention towards terrorism. Stable political conditions attracttourists that aids in increasing foreign reserve of nation (Hokkanen, 2016). There are many touroperators, hotel, accommodation business that face critical issues due to political unrest, strikes,tough regulations in the country (Pestle Analysis of Travel Industry, 2017).Like for exampletravel and leisure centers are largely influenced by implication of Brexit. It has been recordedthat the number of domestic holidays in the United Kingdom has been increased by 71% in 2016from the 61% been recorded in 2015 (Kremer and Symmons, 2015). Also, United Kingdomreport highlighted that in the survey of more than 7000 international holiday makers over 60% ofthe people stated that they were now more interested in visiting the place (Liu, Zhu and Zhang,2018). This has laid impact on the increase in business of travel and tourism sector.
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