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Strategic Planning for Tourism and Leisure- Doc

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Added on  2019-12-18

Strategic Planning for Tourism and Leisure- Doc

   Added on 2019-12-18

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STRATEGIC PLANNINGFORTOURISMANDLEISURE
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Table of ContentsIntroduction .....................................................................................................................................3Part 1................................................................................................................................................3A. Describe the concept of a BID...............................................................................................3B) Evaluate the role of BIDs in the strategic planning of tourism and leisure within Londonand surrounding areas. Discuss positive and negative influences of BIDs.................................5PART 2............................................................................................................................................9A) Historical building, functions and benefits to local area socially and economically.............9B) Assess how the reuse of Royal Albert hall contributes to strategic tourism development inLondon and surrounding areas..................................................................................................12CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
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INTRODUCTIONStrategic planning is the concept through which needs of the business can be analysedthrough assessing the external and internal auditing and this is also effective in terms ofascertaining the factors that impacts the business prospects (Altinay, Paraskevas and Jang,2015). Strategic planning is essential for travel and tourism entity and hospitality industry as wellas through that new aspects can be established for improving the success and growth aspects ofthe business. Thus, the present research study has been made on hotel Hilton which has itsoperations in different parts of the world. Strategic management is a process used to determinemission, vision, goals and responsibilities of an organization as it deals with all the strategicaspects. Thus, in the present study discussion has been included regarding concept of BID andhow it underpins strategic planning of tourism and leisure within London and its surroundingareas. Moreover, in this context researcher has also stated positive and negative influences ofBIDs. Along with this, researcher has included how historic building for tourism, leisure, eventsand other activities benefit its local areas from social and economic dimensions. Lastly,researcher has discussed the use of historic buildings in contributing to strategic tourismdevelopment in London and surrounding areas. PART 1A. Describe the concept of a BIDA business improvement district is regarded as a defined area within which businessesare required to pay and additional tax for the purpose of funding the projects within theboundaries of the district (Buhalis and Jun, 2011). On the basis of generalised term, BID is oftenfunded primarily through the levy; however it can also draw on other public and private fundingstreams. From many sources, it is being identified that Business Improvements Districts arebecoming a worldwide success story with an estimated of around 1400 developments. This isregarded as a business strategy that is being developed for the purpose of enhancing the businessenvironment and at the same time it also improves the economic growth in the developmentareas. This has been a prime development in the area of UK especially in Scotland.
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Thus, from historical view point, it is evident that a Business Improvement District is abusiness-led initiative within a defined geographical area of a town, city, district and rural area. Itis not restricted by statutory boundaries, wherein businesses work together and investcollectively in local improvements to change their business environment. This usually happens inLondon because most of the hotel entities need transformations (Croy, 2010). Most often BIDincludes partnership arrangement through which local business community and statutoryauthorities can take the projects forward that can improve or benefit the economy. Hence, it isnot a substitute for central or local government arrangement services; however it is a way togenerate additional funding which is being raised by businesses through different modes. At thesame time, the concept is also useful for the purpose of underpinning the local economy. Thus, in London, several hotel entities can get assistance from the same because this canimprove the economic aspects of the country. Thus, it is being ascertained that most of the hotelentities emphasizes on the concept of BID generally for expanding the projects. Therefore, thisconcept is significant typically for the purpose of enhancing the success aspects of the businessin different countries. Hilton hotel is also required to emphasize on the concept of BusinessImprovement District so that it can aid the economy to grow and prosper more. Business improvement district is mainly define the area in which each and every businessrequired to pay additional tax in order to plan new business set up (Dansero and Puttilli, 2010).Business improvement district is the basic concept of managing the funds and tax in the traveland tourism sector of the London. In order to developing the business at international level,business improvement district plays an effective role to manage their tax and funds. In UK, BID is mainly introduced to apply the legislation and rules on the severalbusinesses like travel and tourism sector or small and large enterprises or more. In travel andtourism sector London there is direct effect on the economy and fund by the rules and regulationsof the Business improvement district. In addition to this, the direct effect of the businessimprovement district on the travel and tourism of London is that they has to pay extra tax andfund if they want to establish their business at worldwide basis. These type of districts are typically fund services and regulate by the government rulesand regulations. It consist the revenues, net profit, provided security making furtherimprovements and enhancing the business of the travel and tourism sector at worldwide basis.
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