The Contemporary Hospitality Industry

This presentation explores the political, economic, social, technological, and legislative factors affecting the development of organizations in the hospitality industry. It provides an example of a SWOT analysis of hotel Shankly and reviews the decision-making process. It also evaluates the impacts of external factors on the development of hotel Shankly and discusses current and potential trends in the hospitality industry. Additionally, it evaluates the ability of hotel Shankly to develop products and services to meet current needs and examines how external factors impact industry trends and development.

THE CONTEMPORARY
HOSPITALITY INDUSTRY

Table of Contents
INTRODUCTION
MAIN BODY
An assessment of the political, economic, social, technological and legislative environmental factor that affects the development or organizations in hospitality industry
An example of swot analysis of hospitality business of hotel Shankly and review decision making process
An evaluation of the impacts of external factor of the development of hotel Shankly operating within the hospitality industry
An implication of current and potential trends in the hospitality industry
An evaluation of the ability of hotel Shankly to develop products and services to meet current needs
A critical evaluation of how external factors impact on current potential trends and development of industry
CONCLUSION
REFERENCES

INTRODUCTION
◦ The hospitality industry is one of the most revenue generator of for development of economies of
various industry. This is really important element for travel and tourism sector. However, the
hospitality industry in itself a crucial independent industry

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◦ This will be understood by the fact that in UK there are approximately 180,000 of hospitality and leisure of
establishment which provides employment more than 2 million peoples of UK. The Hospitality industry, is must
include pubs, restaurant, food, lodging, in terms of economy also, the hospitality industry having the major
contribution in raising the economy of UK industry.

The political, economic, social, technological and legislative
environmental factor that affects the development of organizations
◦ The assessment of political, economic, social technological factors that effects the development is as follows-
◦ Political factor- The government has the strong hold on industry for instance of the political party sets for banned
the travelling. This can be hurtful for tourism as well as hotel industry immediately. All these takes are related to one
decision as well as country can loses its vast majority in relation of their economy. The government is focused to
control the taxes reforms in which the hotel owners can pay the lower taxes.

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◦ Economic factor- The company strength and weakness can boost the affect and attractiveness of the
vacation spot as for example- if the international currency is stronger than any of the dollar that people will
use outside of their country.

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◦ Sociocultural factor- hotels will run during their peaks seasons because everyone is finding the hotels that
would be the only options for finding something suitable and also, they are related from their culture.so, this
is the huge problem for hotels during the peaks sons when the rooms are getting scarce.

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◦ Technological factor – sometime before every hotel is using the traditional media but now a days hotels are
using new media from the internet to consider the social media like Facebook and various mobile app that
are the most important tool used by the Shankly hotel owner

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◦ Legal factor- every customer wants to stay safe on social media as well as hotels owner wants innkeepers’ laws which
make sure the welfare and safety of guest as well as their properties.

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◦ Environmental factor- this is related from the hotel guest for the variety or reason such as when family is visiting
with their family and friends. The weather of local area is the deciding factor for whether someone chooses to stay
within the hotel. This is not something can hotel owner can control

An example of swot analysis of hospitality business of hotel
Shankly and review decision making process
◦ Determine the hotel objectives- The swot analysis is working well when the hotel is considering the change
and will need to know the value of time and what amount of money is required. Within the hotel industry,
swot analysis can used for the strategic initiatives like opening the new property and will be consider the
refurbishment or rebranding of hotel. This can also use for the decision-making process of industry

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◦ Critically examine the metrices and results- before the beginning of mapping the strengths, weakness and
opportunities and threats needs to be gather all the information about the hotel Shankly and provides the
metrices of hotel industry

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◦ Map the strength of hotel- this will refer to the positive traits, that is related from the both tangible and
intangible decision-making process that present within the hotels. The hotels will consider these factors that
operation will be in the process and get identify the competitors of industry

An evaluation of the impacts of external factor of the development of hotel Shankly operating within the hospitality industry
◦ The impacts of external factor of the development of hotel Shankly operating within the hospitality industry is as follows-

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◦ Social impacts- how consumers and communities will behave and their beliefs for rapid change is
attitude and towards the health towards the greater number of populations

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◦ Legal impacts – this is related to the way in which legislation of society that will affects the business as for
example the fast changes in employment of working staffs and their working hours.

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◦ Economic impacts - this is related to how economy will affect the business in relation to taxation,
spending of governments, general demand, interest rates as well as exchange of rates

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◦ Technological impacts – this shows how the rapid pace of changes within the hospitality
industry and how the technological innovation will get effect on business.

An implication of current and potential trends in the hospitality
industry
◦ Catering to millennials – company needs to be gotten define their strategies that is typically based on the
demographic groups of traits and habits. The hotels will want to please them with the easy check in and gourmet
of dining experience at really reasonable prices

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◦ Tech explosion- the majority of guest in the today world is the self-sufficient, make the technology
savvy, this is the reason travellers who are comfortable using apps or mobile in hotels.

An evaluation of the ability of hotel Shankly to develop products
and services to meet current needs
◦The use of new technology- The industry Shankly is always up to date in terms of technology to
providing advantage to the industry. That is related from the mobile check ins and providing special
discounts on apps and doing online advertisements that helps to make sure the experience of customers in
unique way
◦Collecting data to improve customers- this is another trend of future leaders of the Shankly hotels
that must look for the advance analytics and helps in revenue management systems as well as provides the
segmentation of customer in order to increase loyalty.

A critical evaluation of how external factors impact on current
potential trends and development of industry
◦ The external factor like government policy will change some of the times as well as sometimes become
unexpected that not means the industry can not will get prepare for these things.

CONCLUSION
◦ From the above report, this topic explains the different types of business within the hospitality industry
and diverse the products and services offered by the Shankly and what are their range of operational
functions department of hotel Shankly and contribution of their local, international and national
international economies as well as different impact of skills gaps on the hospitality business and make
the appropriate decision making in order to address those gaps. Apart, from this critical evaluation of
current potential trends of hospitality industry.

REFERENCES
◦Okumus, F., Köseoglu, M.A., Morvillo, A. and Altin, M., 2017. Scientific progress on strategic
management in hospitality and tourism: A state-of-the-art. Tourism Review.