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Report on Strategic Hospitality Management

   

Added on  2020-06-04

14 Pages3764 Words85 Views
Strategic HospitalityManagement

Table of ContentsINTRODUCTION...........................................................................................................................1TASK ..............................................................................................................................................1Mission .......................................................................................................................................1Stakeholders................................................................................................................................2Strategic Analysis........................................................................................................................5Recommendations.......................................................................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONStrategic Hospitality Management is a concept which includes formulation andimplementation of good strategy that leads an organisation towards high growth and success. Itmainly emphasize on the way in which managers develop, execute and evaluate strategies ofhotel in order to gain high competitive advantage in market and creating superior value forconsumers (Avci, Madanoglu and Okumus, 2011). In the present assignment, given organisationis Premier Inn which is a British hotel chain and operates in variety of locations. This reportincludes identification of firm's mission and objectives as well as its key stakeholders. Moreover,PESTLE and SWOT analysis is conducted to determine internal capability & current externalenvironment of organisation. TASK Mission Premier Inn is one of the largest hotel brand of United Kingdom. It operates in variety oflocations involving suburbs, airports and city centres. The company was established in year 1987by Whitbread. It is a subsidiary firm of Travel Inn which accounts for around 70% ofWhitbread's earnings. The chain have more than 750 hotels with 65,000 rooms. Their mainpurpose is to offer high quality services to guests and provide them unforgettable experience. Mission statement of Premier Inn: “We are the preferred destination of choice offering professional, personalised, flexiblehospitality and service to the discerning business and leisure market”.The purpose of mission is to be most hospitable firm in world by providing heartfeltexperiences to guests, high value for owners, meaningful opportunities for team members andcreate a positive impact for communities (Brotherton, 2012). Objectives of Premier Inn:To grow successful brands by developing strong customer innovations and heartbeat tostay ahead.To grow and innovate their core UK businesses. To contribute in development and welfare of society. To create 6500 jobs and recycle 80% of domestic waste by 2020. To increase their market share by 25% in next 5 years. 1

To maintain strong relationship with customers by administering the good qualityservices. StakeholdersEvery firm and business has its own stakeholders. They are the persons or group ofindividuals who have some stake in business and work for the success of company. There aresome key stakeholders of company that contributes in its growth and success. Stakeholders ofHotel Premier Inn are as follows: Stakeholders Their significance Needs and expectationsOwnersThey are the individuals who areresponsible to manage functions andactivities of firm and have the power toformulate all rules and regulations thathighly assists in growth and development(Buhalis and Crotts, 2013). As they are the owner of business,they have high authority for takingall the essential decisions ofPremium Inn Hotel. Owners expectto maximize value for investmentand expect dividend on it. ManagementManagement is an important part ofcompany that is liable to take all decisionsregarding activities and operations offirm. They plays vital role in formulatingplans and strategies that providesguidance to their workforce to worktowards attainment of goals. Theyformulate long term goals forcompany and ensures its effectiveattainment. EmployeesManpower are the essential asset ofcompany that leads the firm towards highgrowth and success. If they get all this,they get motivated and work moreeffectively towards attainment of missionof Premier Inn. They helps in carrying out all theoperations of firm. They concernedabout compensation, job security,acknowledgement, rates of pay,appreciation, recognition, truthfulcommunication and respect.CustomersThey are that vital component of companythat highly assists in its growth andsustainability. The reason behindexistence of business is sake of itsThey are important stakeholdersgroup and firm make consciousefforts to meet expectations andneeds of their customers. 2

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