Consumer Trends, Sustainability, Financial Operations and Governance of Historic Royal Places

Hospitality, Tourism,
Events Environment

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY...................................................................................................................................1
Consumer trends in hospitality and tourism at Historic Royal Places..................................1
Sustainable performance of Historic Royal Places...............................................................3
Financial operations of Historic Royal Places........................................................................4
Governance of Historic Royal Places....................................................................................5
Stakeholder of Historic Royal Places....................................................................................6
Current issues faced by Historic Royal Places......................................................................6
CONCLUSION................................................................................................................................7
REFERENCES ...............................................................................................................................8

INTRODUCTION
Hospitality and tourism is the oldest business which provides an opportunity to the
travellers and visitors to accommodate themselves away from home with fine dining and
convenient services(Lu,Chen and Law, 2018). In this report, Historic Royal Places have been
taken into consideration which is an independent charity act as an executive agency in the
department of environment and manages the occupied royal place in UK with headquartered in
London. The objective of the administration is to help everyone learn about the sites in their care.
And they want to make feel everyone welcome and accepted at the visited places. The report will
cover the objectives of the governance and the consumer trends that are followed in particular
area. Further, it will explain the performance of the sustainability followed by an organisation.
Apart from this, it will state how the financial operation of an organisation are managed and
how it is governed. In addition to this, the explanation is given about the stakeholders and the
current issues they are facing at the present time.
MAIN BODY
Consumer trends in hospitality and tourism at Historic Royal Places
The knowledge management in the services sector provide the employees opportunities to
get them up to date with the latest information and knowledge. This is especially important in
the hospitality because employees need to provide an accurate information and solution. With the
concept of marketing, keeping up to date with the latest trend gives the best possible chance to
reach to the targeted audience. Trend is describes as the changing in the behaviour of the
visitors(Gallarza and Saura, 2020). Therefore, there are some latest consumer trends in context
to Historic Royal Places which are depicted as under:
Safety and hygiene: There are number of trends related to hospitality and tourism but
safety and hygiene has become more important after such pandemic. With reference to Historic
Royal Places, these concept are followed by every restaurants, bars, hotels and cafes. The
cleaning measures have been increased on the tourist visiting places and social distancing rules
are respected and so on. Each place are provided hand gel and implemented policies of wearing
mask for the safety of the visitors and travellers. Moreover, the special rules are needed to be
provided by Historic Royal Places ahead of time and are needed to be implemented to make
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people aware with the safety measures. The threat of covid 19 has made the people reluctant to
travel and visit so that they can be remain safe and healthy.
Increased emphasis on leisure: Due to the pandemic, the restriction has been placed on
travelling because of the safety and good health of the travellers. Even the business are
encouraged to force the employees for work from home. As a result, the events of the business
has been badly impacted and the tourism and hospitality industry has adversely affected.
Therefore, Historic Royal Places focuses on the leisure customers and encourage them to visit
there, but the people are desperate for their safety. They also making efforts in providing the
customers package deals by focussing on the families, couples, group of friends and so on. With
this package offers, the customers may be attracted towards tourism and hospitality purpose.
Contactless payment: The consumer prefers contactless payment everywhere after such
pandemic so that they can save time and remain safe. Therefore, the emergence of google pay,
apple pay has been increased whereby the people don't need to carry their wallet. The people can
easily make payment for the services like hotels, transport and many more. With reference to,
Historic Royal Places, the demand for the contactless payment has been increased because many
of the customers and staff members feel uncomfortable handling cash and prefer to make inline
payment. This also remove friction among the people while making dealings because it keeps
record of all transactions made. It is easy to use and keep our transaction safe by using reliable
and secure methods.
Shift from international to local: The travel restriction and the reluctant of the people
has forced the organisation to more focus on the local customer less on international international
customers. The marketing strategies are also set accordingly because the behaviour of the
customers has been changed towards the visiting of any historic places and any others places. In
relation to Historic Royal Places, the customers prefer to visit in their own areas or nation due to
the facilities which is provided by the local markets(Mirzaalian, and Halpenny, 2019). They
encourage themselves to visit local hotels because there are no restriction on travelling and
visiting in the local market. The local customer can also cancel the booking and they don't need
to have quarantine themselves after their visit.
Voice search and voice control: The customer trends has been increased and focused
toward the voice search where they can easily book for the hotels and tickets for their visit. An
organisation can capture the guest by structuring websites so that the customers can easily voice
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