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Hospitality Management - Doc

   

Added on  2021-06-18

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Running Head: Hospitality ManagementSMART MOVE ONHospitality ManagementIndividual Report
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Hospitality ManagementPage | 1Executive SummaryThe report here focuses on the Development plan, Feasibility, sustainability and limiting factors involved with the development of the Smart move. Smart move on is a unique offering formed by the infusion of Bikes and Bed for the travellers who are focussed on heightened experience and social interaction. There is huge potential for the success of the business model because of the changing shift of consumer interest in the hostel sector, people value social interaction and experience more than staying in a comfortable hotel. Smart move on business idea is highly feasible with strong components of sustainability of the business model. Biggest limitation of Smart move on is the huge advertising cost required to create brand awareness and the growth and expansion of Airbnb business model.
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Hospitality ManagementPage | 2Table of ContentIntroduction.......................................................................................................................................................................3The Development Plan...................................................................................................................................................4Proposed Idea...............................................................................................................................................................4SWOT Analysis of the Business Idea...................................................................................................................4Development of the Brand-Smart Move on......................................................................................................5Consistency in Services........................................................................................................................................6Relevancy..................................................................................................................................................................6Credibility-................................................................................................................................................................6Attractiveness-........................................................................................................................................................6Originality..................................................................................................................................................................6Brand Positioning...................................................................................................................................................6Feasibility of New Product/Service..........................................................................................................................7Financial Analysis.......................................................................................................................................................7Market Feasibility Analysis.....................................................................................................................................7Operations Feasibility...............................................................................................................................................8Sustainability of the Business idea.........................................................................................................................10TG of Smart Move on...............................................................................................................................................10Environmental Sustainability..............................................................................................................................10Financial Sustainability..........................................................................................................................................11Factors limiting the development in the Hospitality sector.........................................................................11Conclusion........................................................................................................................................................................12References........................................................................................................................................................................13Appendix...........................................................................................................................................................................15
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Hospitality ManagementPage | 3IntroductionHospitality industry is one of the fastest and evolving sectors in the present times; it is a broad group of business which provides services to customers. Hospitality falls within the purview of Service industry and encompasses services such as lodging, food, transportation, leisure, Spa and wellness and many more (Walker & Walker, 2016). Apart from Hotels, Hostels have also become an important part of the Hospitality industry and in the recent times it is picking up strongly and becoming increasingly popular amongst youngsters who prefer experience more than anything (Nagy & Carr, 2017).The inception of Hostelling can be traced back from early 1909-1934 in Germany when an elementary school teacher staying in the industrial centre of Germany was alarmed at the impact of industrial revolution on the student’s health and welfare. He thus created “wandering school” on weekends for the student which later took the shape of “Youth Hostel” (Papadogiannis, 2016). Further development in the Hostelling culture happened through most of the parts of Europe such as Switzerland, Poland, Netherlands, Norway, Denmark, British Isles,Ireland, France and Belgium. At present there are more than 4000 hostels spread in more than 80 countries worldwide (Ravenhill, 2016).Smart Move on is an extremely innovative idea which combines two of the things most desired by travellers- Bed & Bike. The Unique selling proposition of Smart move on is provision of shared accommodation, breakfast, 24 Hour bike service and organized trips with a guide to the best places in London. It definitely is a very novice concept which has great potential for further development and an opportunity for travellers to experience London and meet some of the people with different cultures, ethnic background and race. The underlying purpose of the assignment here is to develop the new brand using the development method for creating the brand. The report will also focus on the feasibility of the new business and its reasons for sustainability in the ever evolving hospitality industry. Towards the end, the report will highlight the potential factors which might limit the development of Smart Move On.
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Hospitality ManagementPage | 4The Development PlanIn the simplest terms development plan can be understood as a document which entails the overall strategy of the developing team/ founders for the proper planning and sustainable development of the proposed idea. The development plan helps in meeting the objectives systematically step by step (Leigh & Blakely, 2016).Proposed IdeaThe business idea here is to leverage the growing culture of Hostels in the west by millennial (18-35 Years) by providing value for money services to the travellers or experience seeking people. Smart move on is a unique infusion of Bed and Bikes for the people who are interest in travel along with a guided tour of London’s main attraction. Providing accommodation with breakfast at value for money is good for pocket friendly consumers and cycling would help the travellers in ditching the traffic and also help them in staying fit. Smart move on is targeting the millennial who have more affinity towards environmental sustainability thus with this strategy of co-creation the company is looking to establish the brand in the London market. The company is also aiming at Cost leadership by providing the cheapest price on rent and bikes. SWOT Analysis of the Business Idea SWOT analysis is a micro environmental analysis which helps the organization to identify its strength and weakness which are internal to the organization and identify weakness and threatswhich are external to the organization (Theaker, 2017). SWOT analysis of Smart move on will
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Hospitality ManagementPage | 5help the company in leveraging on the strength, reduce the weakness, take advantage of the opportunity and create proactive strategies for the futuristic and probabilistic threats.StrengthCost leadership (Lowest prices for rent and Bikes)Effort towards environmental sustainability.Offering of incredible social experienceValue for money services.Focus on providing experience.Provision of shared experiences.Cycling can help in ditching traffic and congestionFun on wheelsWeaknessMaintenance of Bikes will have a cost attached to it which the company will have to bear on a regular basis.Company will have to bear road tax as the bikes will be parked on roads.OpportunityUsing bikes for driving revenue into the system during the time of low occupancy.Greater awareness of the Hostel brand due to the logo on the Bikes.Investment by London in increasing facilities for cyclist.Growing craze of travellers in the European market.Growth in interest of Millennial towards experience ThreatEasily imitable business model.Brexit might have adverse impact on the tourist due to increase in cost (Watt, 2018).Requirement of Visa to travel.Growth and expansion of Airbnb model(Guttentag, 2015)Anti-social behaviour might impact theopinion of tourists about London.Development of the Brand-Smart Move on
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