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Report on IHG - Analysis On Hospitality Products & Services

   

Added on  2020-02-05

13 Pages3957 Words68 Views
HOSPITALITYOPERATIONSMANAGEMENT1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1.1..............................................................................................................................................3P1.2..............................................................................................................................................4P1.3,1.4........................................................................................................................................4TASK 2............................................................................................................................................5P2.1..............................................................................................................................................5P2.2, 2.3.......................................................................................................................................6TASK 3............................................................................................................................................6P3.1..............................................................................................................................................6P3.2..............................................................................................................................................7TASK 4............................................................................................................................................8P4.1..............................................................................................................................................8P4.2..............................................................................................................................................9P4.3..............................................................................................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................122

INTRODUCTIONHospitality operations are the functioning of different products and services offered bythe hospitality groups. There are certain factors that affect and influence hospitality operations.These factors are the rise and fall of demands of customers, pricing by the hospitality groups,profit levels achieved. The report encloses a deep analysis made over the different hospitalityproducts and services offered in UK with a reference of IHG (InterContinental Hotels Group).IHG is a multinational organisation having 5,028 hotels in about 100 countries. It is UK's leadinghospitality association. An analysis is made to discuss the structure, functioning and the factorsthat influence the governance of any product or hospitality services.TASK 1P1.1UK has always been a centre for attracting tourists across the world due to the class andquality of hospitality offered by their hospitality groups. There variety of services offered by thisindustry which include lodging, event planning, transportation, entertainment activities liketheme parks or amusement corners and diversified options for tourism. Tourism is also a part ofthe hospitality sector (Baker and Magnini, 2016). It is the hub that connects all the other sectorswith each other. Consumer attraction points are numerous in UK. This increases the probabilities steadilyincreasing profit margins of the hospitality sector. Catering and food industry also faced a boomdue to technical developments in marketing and sales (Brookes and Becket,2011). Digitalsciences have led the consumers to virtually tour the facilities that are provided by thecompanies. Hospitality comprises of leisure spending, independent businesses, catering ,restaurants, clubs, pubs and outdoor activity management. Sourcing, funding and management of these operations together and achieving customersatisfaction develops a good impact on the financial reports of the organizations working(Gibson, 2012). Several policy improvements undertaken by the British government allows theinvestors to explore great opportunities and also giving UK tourism and hospitality an edge overother industries.3

P1.2IHG being a leading multinational brand has always been working with innovation toprovide in class hospitality services and products to the consumers across the world. But thereare certain factors that weight the demands for new products and services (Hayes, Ninemeierand Miller, 2016). These are depicted below.1.Hospitality industry has always been considered a leisure spending spot. The expenditureof the consumer totally depends on their income. Inflation rates, tax policies are keyfactors that affect a citizen's income. Lesser tax payments result in more expenditure onluxury items.2.The selling price of a good is the important factor to decide whether it will be successfulin the market. Similarly, IHG has to focus on effective price declarations regarding tourpackages as well as in house products.3.IHG focuses on evolving taste and preferences of consumer. Nowadays consumers focuson luxury with pocket friendly budgets.4.Consumer population is the deciding factor of IHG' s profit or loss. 5.With better experiences the expectations of consumers increase and IHG has to focus onmeeting the fresh consumer demands.6.Competition from other hospitality partners abides the employees of IHG to come upwith more innovative and developed ideas.7.Advertisements also affect the company's products and services.P1.3,1.4Hospitality is a lifestyle industry hence the consumer profiles are created on the basis ofthe amount they can spend to obtain these luxurious lifestyles (Jin and Weber, 2016). There arethree groups of consumers that is lower level, middle class and high class. The factors that affecttheir spending on the hospitality are as follows:1.Types of hospitality businesses means whether the consumer wants to expend on clubs,pubs, food, adventure sports or tourism, etc. This choice depends on their income andtheir will to expend accordingly.2.Spending power defines the three customer profiles. The lower segment have a minuteamount of spending and generally avoid spending in outdoors. The middle class have4

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