Business Opportunity Report

This report provides an overview of the hospitality industry, discusses the impact of mega and emerging trends, identifies entrepreneurial business opportunities, and proposes a new product or service in the hospitality sector. Feasibility study is also conducted to assess the viability of the proposed idea.

Business Opportunity Report

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Overview of hospitality industry.................................................................................................3
Mega trends and their impact on hospitality market...................................................................3
Emerging trends and their influence on hospitality sector..........................................................4
Entrepreneurial business opportunities as the outcome of impact of trend................................5
Proposal for the new product or service in the hospitality sector...............................................6
Feasibility study..........................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business Opportunity refers to the packaged investment of business that enables an
individual to initiate the business. It is defined as the combination of distinct circumstances at
specified time that provides a positive result, if taken benefit of it. This report is based on
hospitality industry and the mega and emerging trends exist within it (Erkurt and et. al., 2019).
Hospitality industry is one of the fastest growing sector and consist of 4 key segments including
food and beverages, lodging, travel and tourism and recreation. Holiday Inn Express Bath is
taken into consideration in this report which is a best value budget hotel in England, United
Kingdom. The hotel administers comfort and convenience to guests at affordable prices. This
report covers a brief overview of hospitality sector and the impact of mega and emerging trends
on market. Moreover, entrepreneurial business opportunities are identified and a product
proposal is developed with justification and feasibility study in this report.
MAIN BODY
Overview of hospitality industry
The hospitality industry is recognised as a part of wider service sector which emphasize
on leisure instead of more basic needs. It includes sectors like accommodation, travel and
tourism, food and drink. It is one of the fastest growing industry all over the world. The
hospitality business in United Kingdom exceed 100 billion pounds in year 2018 and it has
steadily grown. In the last 5 years, it has been seen that the amount of organisations offering food
and accommodation services in United Kingdom has grown by 20%. In the economic growth of
country, the contribution of hospitality sector is high as it employs around 3.2 million people
and represents 10% of employment (United Kingdom Hospitality, 2020). Holiday Inn Express
Bath is a hospitality sector business and one of the excellent value choice for people who are
looking for good accommodation. It has 145 stylish spacious bedrooms and offers free Wi-Fi, en
suite facilities and contemporary lounge area where guests can enjoy breakfast, its tasty snack
menu and relax after a busy sightseeing of day (Fairlie and Fossen, 2018).
Mega trends and their impact on hospitality market
There are various mega trends exist in hospitality industry which are shaping the future of
overall industry. These mega trends impacts the overall market of hospitality sector. Some of the
mega trends and their impact on market are mentioned below:

Edutainment: It means education and entertainment. It is one among the mega trends in
hospitality industry. It is the concept which includes qualities of both, entertainment and
education, which is the way to develop meaningful as well as long lasting experiences of guest to
enrich them with skill and knowledge acquisition. As people are increasingly want
transformative travel, which open the eyes of consumers to new possibilities. This mega trend
highly impacts the hospitality market as people want such places to visit where they can
experience new things as well as get the experience which lasts long. Provides customers with
such kind of experience provides an opportunity to hospitality industry business Holiday Inn
Express Bath to attract more customers and attain high revenues (Gupta, Goktan and Gunay,
2014).
Ephemeral (time scarcity and its consequence): This mega trend is associated with the
rapidly changing needs and expectations of consumers which sit at the centre of this trend. It
includes a desire to excerpt much possible value from each and every moment. Some considered
initiatives will enable hospitality sector organisations to be more relevant, memorable,
frictionless and valuable to serve and assist needs of these guests. This is a psycho-graphic
mindset trend that exceeds demographics (HOSPITALITY MEGATRENDS, 2020). This trend
impacts the hospitality market as people are more choosing those hotels to stay that are align
with their lifestyles. With the scarcity of time, it creates an opportunity for hospitality
organisations to support what is crucial to their guests.
Emerging trends and their influence on hospitality sector
There are some emerging trends which impacts the activities and operations of hospitality
sector the most. Some of the emerging trends within hospitality industry are mentioned below:
Sustainability: In hospitality sector, sustainability is one of the key emerging trend.
people are increasingly concerned with the issues related to environment and prefers to go in
such hotels which are behaving ethically. This is the main reason, sustainability is becoming one
of the key hospitality trends at current time, with increasing number of firms promoting eco
friendliness (Huang and et. al., 2019). This emerging trend highly influence the businesses in
hospitality sector including Holiday Inn Express Bath hotel as if it do not focus on maintaining
sustainability with environment, it may loose the trust of guests.
Technology: Most of the guests today are tech-savvy travellers who are likely to plan
their whole trip using apps or mobile websites. Connectivity across various platforms and in-

rooms technology that enables the guest to control all the devices like Television, A.C., Lights
etcetera by the mere use of their smartphones or some app is growing more and more important.
This has resulted in hotel management taking care of their presence on these online websites and
applications and making sure that they are offering the best user friendly in-room technology as
well. During business meeting and conferences, clients expect the hotel to have good-quality
tech equipment and a knowledgeable support staff as well. At a hotel, guests are provided with
high-tech room-key cards which detect their presence and unlock the door well before they even
reach it (Nielsen, 2019).
Real-time damage control: If any guest is not satisfied with any of the services provided
by the hotel, he/she can complain immediately on any of the online portals like Facebook,
Twitter or TripAdvisor. There is a dedicated team of employees which is highly active on all
these websites and responds quickly to the problem being faced by the guest. Thus, the problem
of the guest gets solved in real time helping damage control. This trend has affected the
operations of hospitality industry to a huge extent. Engaging with the guests and responding to
their problems with the help of these online portals help establish good relations with the guests
and increase the goodwill of the hotel driving future bookings.
Entrepreneurial business opportunities as the outcome of impact of trend
Different mega and emerging trends in hospitality industry presents various business
opportunities in front of entrepreneurs. Like, the trend of edutainment presents an opportunity for
hospitality business to provide such an experience to guest which fulfils their both the purposes
education and entertainment. Apart from this trend, the another trend Ephemeral provides an
opportunity to entrepreneur to support what is significant for the guests. This includes mental
and physical well being of customers (Lmadani, 2018). Holiday Inn Express Bath hotel can
focus on healthfulness of their beverage and food offering, quality of sleep, low and high impact
fitness options and resource conservation. Moreover, the sustainability trend provides the
entrepreneur with an opportunity to focus more on employing environmental sustainability
options. For this, firm can eliminate the use of single use plastic, introduce keyless guest entry as
well as employ other eco friendly practices. The another trend is technology which also provides
an opportunity to hotel to employ high end technological processes in providing services to
guests like artificial intelligence, facial recognition, introduce robots for serving guests etc.

Proposal for the new product or service in the hospitality sector
In the current business environment, hospitality sector plays very crucial role in growth
and development of economy of a particular nation. As the growth of hospitality businesses is
highly rely on the services it offers to its customers, it is very necessary for Holiday Inn Express
Bath hotel to emphasize on the changing needs and preferences of customers. In the highly
competitive market, for attaining long term sustainability, bringing constant innovation in the
products and services is very crucial for Holiday Inn Express Bath hotel. So, in this context,
based on the hospitality industry trend, that is, 'technology', the hotel can taken into consideration
introduction of robotics technology within the organisation. Introduction of this technology will
help hotel in reducing the number of manpower which in turn reducing the recruiting cost of
company (PAKSOY, 2018). Apart from this, with the introduction of robotics technology, hotel
will enable to serve through robots which reduce the manual working and also helps in providing
effective services to guests. Along with this, the edutainment trend can also take into
consideration by firm in which all the information about the place is provide to customers
through robots. This will improve the knowledge of guests regarding the place and also provides
lasting experience to them. This helps hotel in offering quality services to customers along with
satisfying them effectively.
Feasibility study
Feasibility study refers as the analysis that taken into consideration of the factors of
project including legal, technological and economic considerations in order to ascertain the
success of idea or project. It is the assessment of practicality of an idea or project that how much
beneficial it is for the hotel. Feasibility study is conducted by an organisation in order to
determine the viability of a concept or idea that it is justifiable or not. It helps the Holiday Inn
Express Bath hotel in determining whether it is worth to invest in the project or not (Sang,
Kotake and Takahashi, 2018). To ascertain the viability of concept or idea of introducing robots
to serve food to clients, different types of feasibilities are examined which are mentioned as
follows: Technological feasibility: It includes the assessment of technological resources of
Holiday Inn Express Bath hotel. In order to gain competitive advantage, it is necessary
for hotel to use high end technology in offering services to its customers. As providing

services to guests is the most innovative concept and high end technology is introduced in
it, it can be said that the idea is technologically feasible. Economic feasibility: It includes cost benefit analysis of an idea. By introducing robots
to hotel for providing services to guests, Holiday Inn Express Bath hotel will enable to
reduce manual working (SUN, YANG and LIN, 2018). It also saves the recruitment cost
as well as the cost associated with training of employees. So, it can be said that investing
in robotics technology will be economically feasible for hotel as it saves its cost as well
as improve quality of services.
 Legal feasibility: It includes assessment of legal requirements for the implementing the
idea or project. If all the laws and regulations will follow by hotel and all the legal
requirements are fulfil then the project will be legally feasible (Yingzhe, 2018).
CONCLUSION
As per the above mentioned report, it has been concluded that hospitality industry is one
among the rapidly growing sector and contributes highly in growth and development of
economy. There are various mega trends including edutainment and ephemeral which impacts
the market of hospitality sector. Along with this, there are some current trends including
sustainability, technology etc. which also impacts the market as well as provides opportunities to
businesses to grow and succeed. Introduction of robotics a technology to provide services to
guests proves to be beneficial for hotel as it is an innovative concept and provides competitive
advantage to hotel in market.

REFERENCES
Books and Journals
Erkurt, and et. al., 2019. Industry 4.0: Opportunities and Challenges for Turkey. Digital
Manufacturing and Assembly Systems in Industry 4.0, p.31.
Fairlie, R.W. and Fossen, F.M., 2018. Opportunity versus necessity entrepreneurship: Two
components of business creation.
Gupta, V.K., Goktan, A.B. and Gunay, G., 2014. Gender differences in evaluation of new
business opportunity: A stereotype threat perspective. Journal of Business
Venturing, 29(2), pp.273-288.
Huang, and et. al., 2019, October. Machine Tools Fingerprinting for Distributed Numerical
Control Systems. In 2019 IEEE 44th Conference on Local Computer Networks
(LCN) (pp. 348-355). IEEE.
Lmadani, F. A. B., 2018. Senegalese Migrants in Morocco: From a Gender Perspective.
In Gender and Mobility in Africa(pp. 175-185). Palgrave Macmillan, Cham.
Nielsen, M. O., 2019. Native Americans, crime, and justice. Routledge.
PAKSOY, S., 2018. KARMA KISITLI ULAŞTIRMA PROBLEMLERİ VE ÇÖZÜM
YÖNTEMİ. Pamukkale University Journal of Social Sciences Institute/Pamukkale
Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (33).
Sang, H., Kotake, Y. and Takahashi, S., 2018, August. A dynamic modeling simulation for
supply chain management inventory service: a case study on a rental housing unit
manufacturing and logistics company. In Proceedings of the 2018 International
Conference on Information Management & Management Science (pp. 125-132).
SUN, S. X., YANG, C. B. and LIN, M. C., 2018, August. Research on Incentive of National
Defense Intellectual Property’s Conversion and Application in Weapon Equipment’s
R&D Process. In 2018 International Conference on Management Science and
Engineering (ICMSE) (pp. 165-170). IEEE.
Yingzhe, S., 2018. Trends in Rule-Making for International Investment Agreement from the
Perspective of CETA Chapter Eight (Investment). J. WTO & China, 8, p.87.
Online
HOSPITALITY MEGATRENDS, 2020. [Online]. Available through:
<https://www.designinsiderlive.com/hospitality-megatrends-2020/>
United Kingdom Hospitality, 2020. [Online]. Available through:
<https://www.ukhospitality.org.uk/>