PDF Contemporary Hospitality Industry

Added on - 22 Nov 2020

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CONTEMPORARYHOSPITALITYINDUSTRY
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1P6 PESTLE Analysis of Hospitality Industry.............................................................................1P7) SWOT Analysis....................................................................................................................3P8) Current and Future Trends in the Hospitality Industry.........................................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONHospitality Industry can be defined as the group of businesses which provides variousservices to their customers such as accommodations, food and beverages and travel and tourism(Hospitality Industry: Definition & Overview,2019). Along with this, customer satisfaction isgiven the first preference by the businesses covered under this industry. The followingassignment is based on Hilton Hotel Resorts which provides accommodation, food and manymore services to their customers. The assignment will focus on the macro environmental factorson the working of Hospitality Industry with the help of PESTLE and SWOT Analysis. Inaddition to this, the current and future trends in the Hospitality Industry will also be explained inthis assignment.MAIN BODYP6 PESTLE Analysis of Hospitality IndustryPESTLE Analysis can be defined as the framework used to analyse the impact of macroenvironmental factors on the working of an organisation, economy or industry as whole. Thefollowing analysis will be used in order to know about the impact of macro environmentalfactors on the working of Hospitality Industry presented as under:Political Factors:It refers to the those factors which impacts upon the working of anorganisation due to changes in the government policies such as political stability, instability,corruption, foreign trade policy, tax policy, environmental law and many more.Hospitality Industry is the most important source of income for the government of UKand the government is making suitable policies for the development of businessescovered under this category. So this is an opportunity for the companies to makeadvantage of(Radojevic, Stanisic and Stanic, 2015).The negative impact is because of terrorism which has reduced the level of tourism tomuch extent and has limited the source of income for the government.Economical Factors:These are those factors which impacts upon the working of anorganisation due to changes in the economic factors such as inflation rates, disposable income ofconsumers, unemployment rates, interest rates and many more.1
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