This study aims to analyze the hospitality services of Hotel 41, focusing on both internal and external factors that impact these services. It explores how Hotel 41 can adopt new technologies, manage innovation, and provide luxury experiences for its customers.
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HOSPITALITY INDUSTRY
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Table of Contents INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................1 1. PESTLE Analysis of the hospitality industry.....................................................................1 2. SWOT Analysis of Hotel 41..............................................................................................3 3. New emerging trend in hospitality industry.......................................................................4 4. Ability of value chain to develop a new product and service to meet future trends..........5 CONCLUSION................................................................................................................................5 REFERENCES................................................................................................................................6
INTRODUCTION Hospitality industry is a broad category of field which includes many services such as- lodging, transportation, cruise theme parks, event planning It is one of the biggest industries in UK. This industry is contributing around 4% of GDP in UK. Hotel 41 is a UK based five-star hotels. The hotel is providing best and luxurious hospitality services to the customers. This file discusses about the impact of internal and external factors on the hospitality industry and their relation with current issues facing the hospitality industry. This file also analyses the potential and current trends and developments affecting the hospitality industry MAIN BODY 1. PESTLE Analysis of the hospitality industry This analysis helps to identify influence of external factors of macro environment which are affecting on the business. There are 6 kinds of external factors which are mainly affecting business of hotel 41 which are discussed below: - Figure1: PESTLE ANALYSIS (Source: Pestle analysis, 2018) 1
Political-Political factor is affecting directly on the hospitality industry.Changes in policies and governmentcab affect the business environment. Political stability is a good thing for hospitality industry. This external factor can affect the hospitality industry through such elements- terrorism, election war and changes in political trends can impact on the whole industry through change in business policies (Baum,2019). Economical factor-Economical factor include some economic factors such as, deflation, seasonality issue, tax policies international trade, inflation etc. all these factors has huge impact on hospitality industry in wide range. In recent year's hospitality industry has contributed its big efforts in economic development so change in economy of the country can impact the hospitality industry. Social factor- There are many social trends which helps to shape hospitality industry. There are many customers exist in the market with their preference of taste. There preferences regarding accommodation, lodging can impact on the 41 hotel. Nowadays preferences has shifted into private accommodation of the tourists. Technological factors- Technology is one of the big demands in the hospitality industry. The latest trends in hospitality industry such as- cabs booking, card key online booking of room and many others.Hospitality industry affected by this all things. Hospitality Industry have to fulfil the core expectations of customers to make profitability because of which firms incorporates use of advanced technologies. Hotel 41 has its own database management system, it is an integrated management system which helps to access the information’s of functional departments. Hotel 41 offers online booking of rooms with discounted price which denotes influence of external factor on growth of business(Li and Singal, 2019). Environmentalfactor-Thisfactorcomprisecarbonfootprint,sustainability, environmental regulation, ecological regulations, etc. Hotel 41 focuses on reducing carbon foot print by ensuring use of renewable resources, minimizing waste and us of energy and has also complied with environmental regulations. Theses environmental practices of hospitality firm helps the business in maximizing interest of stakeholders. Legal-This factor somehow inters related with political, economic, environmental, fluctuations.Thefactorsareallaboutthechangesinthepolitical,economic, environmentalsituationwhichcanaffectthestateofbusiness.Theregulative 2
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environment in hospitality industry is complex. Many kinds of rules and regulations and laws such as- health and safety law, employment law, can impact upon the hospitality industry. Hotel 41 is following all the legal formalities and working according to laws of hospitality industry. All the airlines of UK are based on risk management because of the safety of customer. Hotel 41 is following all the legal formalities such as-alcohol licensingregulations and working according to laws of hospitality industry.This organisation having license from the government to sell drinks in their hotel. Hotel 41 should be aware about legal activities before launching new hotels in other countries. For launching new branch in other countries or in some other areas, the organisation has to aware about local laws(Yusoff and Nejati, 2019). 2. SWOT Analysis of Hotel 41 Strength Successfuldistributionmarketing strategies and plans. Effectivecustomerrelationship management Hotel 41 has strong distribution network of channels which will helps to reach out its potential market High quality of providing customer care services and support. Extensive experience of the enterprise Weakness Small global market share High levelof bond document Lack of flexibility due to its big size of the hotel. Opportunities Hotel41hasmanyOpportunitiesto expanditsenterpriseinglobalmarket becauseitownsstrongpresenceof Threats Lossofkeynaturalabilityandkey personnel 3
ancient culture Hotelisfocusingonresearchand development to get new opportunities. Highcustomerretentioncanhelpto expand market Threat from rival Big danger of act of terrorism Threat of government disorder 3. New emerging trend in hospitality industry Direct online booking-It is one of the new trends that will help to the customers to book their hotels online. It is the simplest way to save the money and time just because the different sites offer price discount on online booking. Many times, all the travel and tourism companies give seasonal packages for the purpose to giving heavy discount package to their customers. It is also simple for tourist to travel through online booking. Business will focus on online booking to get greater profitability and customer attention because of convenience in services. Every commercial enterprise a huge investment behind building their brand loyalty. Smart rooms for operations automation-CustomerDemands are growing day by day with advancement in technology. This is the new trend that tourist expect for luxurious accommodation and rooms services. Nowadays hotel rooms are operated though voice activated devices which through the information can directly transformed in to an action. These types of devices help to improve the guest experience. Many rooms can be operated with digital technology like guest voice recognition, their thumb print, will allow the tourist to take control of specific functions in the rooms (Fatma, 2019). Promoting by social media- Nowadays everyone is using platforms of social media which helps to connect all the people across the world.It has become one of the biggest sources to promote hospitality services. The customers who are experienced about hotels, can share their feedbacks and reviews on different applications.Hotel chain management also share their reviews about their services to promote the hotels in direct or indirect way. A continuous shift on mobile-Nowadays many of the activities are connected with the mobile phones like check in and checkout detailing of hospitality industry. This trend is helpful 4
for customers to approach any particular hotel so easily. By using mobile phones tourist can operate many things such as- they can order food, they will know about the directions and open and close the doors. 4.Ability of value chain to develop a new product and service to meet future trends. Hotel 41 has an ability to develop its services according to current trends. The 41 hotel is providing many services to their customers according to recent trends and it will help to the hotel to develop new product and services according to customer expectations. Adoption of new trends will help to the hotel 41 to attract many tourists. Online Review and feedback will help to motivate hotel to develop more new service for the customers. Financial state of the hotel is very strong so hotel can innovate new services and adopt new technologies like developing own mobile application for easy booking. Automated accommodation and lodging both are the main advancement which can be focused by hotel 41 for managing innovation and luxury in hotel services. Hotel 41 has extensive experience of the business so it will be easy for hotel to adopt new technologies on the demand of customers. CONCLUSION From the above study it has been summarised that hospitality industry has big contribution in the economic development of the country. This file has discussed about the internal and external factors which affected the hospitality services of 5 star that is 41 Hotel. Internal factors helped to identified the strength and opportunities of hotel. There are many trends which can be adopt by the hotel 41 to provide the best service so the customers. 5
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REFERENCES Books and Journal Baum, T., 2019. Hospitality employment 2033: A backcasting perspective (invited paper for ‘luminaries’ special issue of International Journal of Hospitality Management)(H-index and Bio).International Journal of Hospitality Management. 76.pp.45-52. Dixit, S.K. and Mawroh, H., 2019. Vocational Education and Training for Hospitality and Tourism Industry in India. InTourism Education and Asia(pp. 35-48). Springer, Singapore. Fatma, M., 2019. The Impact of CSR on Consumer Responses in the Hospitality Industry: CSR andConsumerResponses.InCorporateSocialResponsibility:Concepts, Methodologies, Tools, and Applications(pp. 918-935). IGI Global. Li, Y. and Singal, M., 2019. Capital structure in the hospitality industry: The role of the asset- light and fee-oriented strategy.Tourism Management. 70.pp.124-133. Penela, D., Morais, A.I. and Gregory, A., 2019. An analytical inquiry on timeshare research: A continuously growing segment in the hospitality industry.International Journal of Hospitality Management. 76. pp.132-151. Riley, M., 2019.Managing People in the Hospitality Industry. Routledge. Sequeira, B.D., Marques, J.F. and Serrano, A., 2019. “Shaken, Not Stirred”: Knowledge Transfer in the Hospitality Industry. InThe Role of Knowledge Transfer in Open Innovation(pp. 26-53). IGI Global. Yao, and et.al., 2019. Effectiveness of error management training in the hospitality industry: Impact on perceived fairness and service recovery performance.International Journal of Hospitality Management. 79.pp.78-88. Yusoff, Y.M. and Nejati, M., 2019. A Conceptual Model of Green HRM Adoption Towards Sustainability in Hospitality Industry. InCorporate Social Responsibility: Concepts, Methodologies, Tools, and Applications(pp. 400-421). IGI Global. Online Pestle analysis. 2018. [Online]. Available through: <:https://pestleanalysis.com/what-is-pestle- analysis/the-hospitality-industry-important/>. 6