This presentation discusses the contemporary hospitality industry, including PESTLE and SWOT analysis, hospitality trends, and the conclusion. It also provides references for further reading.
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Contemporary Hospitality Industry
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INTRODUCTION Hospitalityindustrycanbedefinedasservicesectorwhichprovide transitionalservicestoitscustomers.Thisincludesfoodandbeverage, entertainment, travel and tourism factor. The hospitality sector work as bridge between host and guest. In present scenario hospitality sector includes different services that include lodging, accommodation, drinks, entertainment place etc.
PESTLE Analysis Travel lodge-Policy, laws, rules and regulations that are generated or decide by the ruling government of country are included in these factors. Like tax policy, foreign trade policy are included in this factor. Travel-lodge follow all the rules which are formulated by government to expand their business in other countries also. For this management target those countries which have liberal policy for an hospitality industry. Connect catering-Connect catering implemented political aspects such as follow up of government policy that help to positive relationship UK is developed country therefore the political conditions of them are stable which governs that they are beneficial for industry.
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Social factor Travel lodge-The method or way by which the society perform and complete their work by implementing their value and attitude in the processing activity is included under social factor. In context of travel-lodge they need to perform activities or operations that does not impact the belief of society if they do that then it negatively impact on business operations. Connect catering-Social factor help business to formulate products according to needs of customers.Hospitality business is developed for the society which determinesthatindividualsarethemajorelementofserviceindustry. Managementofconnectcateringisfocusedonsatisfyingtheneedsof customers by providing effective hospitality services to them.
Economical Travel lodge-Monetary factors such as inflation rate, savings and interest rate and foreign exchange of company are included under economical factor. In context of IHG management identify the economical stability of country. Apart from this it also helps to identify exchange rate between two countries. Connect catering-This aspect helps management of connect catering to sustain their business for longer period in market. After the Brexit there are different changes are formulated in the economy of UK. It considered that there are different challenges are faced by government and industry.
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Technological Travel lodge-In present market conditions, technology is an effective tool which helps an organisation to increase value in their service or product. Like in hospitality sector there is cut throat competition is present in industry. In the context of Travel-lodge technological factor such as Wi-Fi, security system, automatic doors helps an organisation to increase their customer and expand their market. Connect catering-In present scenario all business adopted latest technology that helps them to expand their business among overall world. In context of connect catering technology helps them to grow their business digitally.
Environmental Travel lodge-Each and every country has different rules, norms and policy that protect the natural environment of country. In hospitality sector it is essential for an organisation to follow the rules of government because it helps an organisation to sustain in specific country. Connect catering-In recent years environment safety is the major factor that impacts on organisations performance. Alongwith these they also create positive results for an country. Connect catering is operating their business in service industry so it is essential for them not exploitthe resources of the country.
Legal Travel lodge-Laws and legislation, rules, policythat are developed by the country to maintain fair trade in market and between industry are included under legal factor. Through these they monitor that organisation are operating their business in ethical way which provide equal rights to all companies. Connect catering-Each country develops some laws that are essential for them to protect the interest of local industry. Like in each country foreign as well as local organisation both operates their business due to which it is essential for connect catering to follow all laws that are generated by government.
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SWOT analysis of travel lodge & connect catering SWOT analysis help management of travel-lodge to increase their strength and to overcome form weaknesses by predicting them. Along with these it helps to explore opportunities and threats in the market. Strengths- Principle of connect catering service are strong due to which they provide effective services to their customers. Connect catering covers wide area of UK market which determines that they strong customer base. Employees of connect catering are intelligent and skilled that increases satisfaction level of customers.
Weakness of travel lodge and connect catering Weaknesses-It impacts in negative way for an organisation which creates barrier in their productivity. Travel-lodge has increases their business at global market. It increases the range of different products and services in the market. Connect catering does not maintain positive relations with suppliers and its partners as it creates issue for them. The support sales action of connect catering is weak that creates problems for them to produce effective outcome for the organisation. Connect catering follows traditional business structure and strategy that does not match with present market condition.
Opportunities of travel lodge and connect catering Opportunities- New geographical market-The partnership of this company with another company like china as the hotel is planning to start 300 new hotel in china within the next five years which will result in high level of branding of the company. Research team of connect catering is strong that helps that helps to understand whole market conditions and predict opportunities that exists in market. Organisation has alternative to changes their model that help to attract more customers by formulating effective strategy. Restructuring helps the organisation to complete their business at global that increases its market size.
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Threats of travel lodge & connect catering Threats-helps the management of Travel-lodge to formulate strategy through which they reduce risk and loss for organisation. Management of travel-lodge expanded their business in local market which include Britain and Europe. Their is high competition exists in the hospitality industry because industry is expanding day by day. Demand of customers are hard to match by organisation because it is changes on regular bases. It is difficult for organisation to cover their cost because hospitality industry is price competitive.
Current trends in hospitality industry Health and well being-In present scenario guest are aware about their health and fitness. So they demand or search for an hotel that is equipped with gym, spa and pool etc. Theincreasednumberoftravellersareaskingfor wellness options.
Continue... Technology-Theconstantconnectivityandseamless technology helps an organisation to develop goals and maintainfriendlyrelationsbeyondthecountry.Like many hotels such as Aria offer their guest with high tech card that detect the presence of their guest and opens the gate before they reach their destination.
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Continue.. Sustainable rules-Eco-friendly and safety practice of environmentarebecomingthenormsineach industry. For this context of hospitality industry it is essential for them to perform their activities within the framework of surroundings and organisation.
Trend evaluator All the above trends are evaluated by the organisation to find out whether their operations match with particular trends or not. For this they managed their goals and modify their strategy in order to provide effective services to customers.
CONCLUSION According to the above report it is concluded that there are several types of work under service sector specifically in hospitality business. This includes catering, restaurant, events, lodging and accommodation etc. that helps to improve the economic condition of country by providing differentemploymentandbusinessopportunitiesto society individuals.
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References Ali, F., Amin, M. and Cobanoglu, C., 2016. An integrated model of service experience, emotions, satisfaction, and price acceptance: an empirical analysis in the Chinese hospitality industry.Journal of Hospitality Marketing & Management.25(4). pp.449-475. Bruns-Smith and et. al., 2015. Environmental sustainability inthehospitalityindustry:Bestpractices,guest participation, and customer satisfaction.