This presentation provides an analysis of the contemporary hospitality industry, including PESTLE and SWOT analysis, supply and demand, current and future trends, and a conclusion.
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Contemporary Hospitality Industry
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PESTLE Analysis Political factor Marriott hotel There are different types of compliances issued by UK Government on those industries who are dealing their operations in hospitality sectors. Hilton Hotel This factor create impact on the business of Hilton in London as act of Terrorism in 2005. Economic factors Marriott hotel Taxation and foreign exchange rate of different nations that may influence their business in numerous ways. Hilton Hotel In UK, there are various economical crisis are arise in 2009 whcich make decrement in th sale of the Hilton hotel by 20% and profit by 40%. It also affect the economic condition of the nation as well company.
Continue... Social factors Marriott hotel Every region have separate set of values, believes and culture that are followed by individual’s large base of population in that region. Hilton Hotel There are various changes occurred in the needs and demands of the customers and they required product and services according to them. This affect the business and business strategies of Hilton hotel in unfavourable manner. Technological factors Marriott hotel Technology is rising in fast manner as hospitality industry is one of the leading and fastest growing industries with large competition Hilton Hotel Advance technology, artificial intelligence and online booking etc. can influence the business of Hilton hotel.
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Continue... Legal factors Marriott hotel There are different types of laws and legislation complied on hospitality industry some of these legislation include employee health and safety measure, workplace safety, daily basis wage rate and more. Hilton Hotel Hilton hotel operate its business internationally so when the government make change in its policies are legislation like trading and entry policies then it negatively affect it. Environmental factors Marriott hotel There are different types of environmental measures which are required to adopt by industries within Hospitality in order to conduct their services in well effective manner. Hilton Hotels However the working of this hotel will not impact upon the environment but the contribution made by this hotel towards environment will help in creating positive image of the business in the mindset of customers and hence will impact positively.
SWOT analysis Strengths (Marriott Hotel ) Higher international brand name recognition Worldwide reservation system Technological advancements in their organisational structure Strengths (Hilton hotel) Strong brand image in the marketplace Good employee retention Technical innovations
Continue... Weakness( Marriott Hotel) Inconsistency in their operational segment Fewer promoters Less advertisement Weakness( Hilton Hotel) Limited market share Higher dependencies of proprietor Different government policies and parameters
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Continue... Opportunities( Marriott hotel) Advancement of working in a partnership with foreign firms Facilitating Eco-tourism Standardize service and offer training programs to employee’s Opportunities( Hilton hotel) Making innovation in customer services Digitalization and better use of technology Expanding business in different geographical locations
Continue... Threats( Marriott Hotel) Threat from economic downturn Strict laws and legislation Numerous obstacles and acts Threats( Hilton Hotel) High level of competition in the market High salary of the employees Economic and political turbulence
SWOT analysis of Marriott Hotel From the above analysis it can be determined that poor and lack use of promotion channels are weakness of the company while the strong brand image of the hotel is its strengths. By making expansion of the business in foreign market provide growth opportunities to it. Competitor and economic down turn generate threats for the business of it.
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SWOT analysis of Hilton Hotel From the swot analysis of Hilton, it can be defined that technical innovation and strong brand reputation are the strengths of the company whereas limited market share is the weakness of the company. Digitalisation help in providing development opportunities of the business and high level of competitionand economical turbulence create threat for company.
Supply demand of Marriott Hotel According the present time performance of Marriott hotel, it can be understand it operate its business internationally and offer its services all over the world. But due to terrorist attack activities, the business of this organisation influence in negative manner.
Supply demand of Hilton hotels As per the current performance of this hotel, it can be determined that higher competition in hospitality sector affect profit an d productivity of the firm. Poor use and utilization of latest technologies affect business operations and activities of the company.
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Trend 1 In current era, bachelor trips are in trend and people prefer them at high level. If these hospitality firm follow these trends then it can be beneficial for making improvement in the business, profit and productivity of the firm.
Trend 2 Green tourism, underwater tourism and entertainment tour package are in trend in now these days so if these hospitality firm offer these kind of tour package then they can increment in their profit and productivity.
Trend 3 Artificial intelligence and online booking type technologies are in trend and also preferred by customers. Target audience of these hospitality firm are also interested in that services which are constructed with these kind of technologies.
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Trend evaluator From the above information, it can be evaluate that these all trends are helpful for the growth and development of the firm and create positive impact. They are also beneficial for expansion of the business in foreign market.
Current/ future trends specification In the above mentioned trend, different type of tour package are helpful at current time because customer prefer these kind of tourism and it will be helpful for the growth of the companies. Artificial intelligence will helpful for future and will help in development in the business of the company in forthcoming.
Conclusion As per the above mentioned report it has been concluded that, hospitality industry is a broader aspect and is currently one of the leading and fastest growing sector in all over the world. Report includes PESTLE and SWOT analysis with the help of which organisations can able to identify their strengths and weaknesses and cope with them in best effective manner as to provide satisfactory services to customers.
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References Segovia-Pérez, M., and et. al., 2019. Incorporating a gender approach in the hospitality industry: Female executives’ perceptions. International Journal of Hospitality Management, 76. pp.184-193. Su, N. and Reynolds, D., 2019. Categorical differences of hotel brand personality: Identifying competition across hotel categories. International Journal of Contemporary Hospitality Management. Teng, H. Y., 2019. Job crafting and customer service behaviors in the hospitality industry: Mediating effect of job passion. International Journal of Hospitality Management, 81, pp.34-42.