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Research in the Hospitality Industry PDF

Added on - 04 Oct 2021

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Research in the
Hospitality Industry
Introduction to Business Research
The research is about competition for the growing hospitality industry and
how to avoid closure and losses due to competition.
The development of the hotel business in Australia is steadily gaining
momentum, hotel projects are being implemented annually in various regions
of Australia, and domestic and international management companies take
control of new or reconstructed hotels.
Many large corporations and enterprises choose the hotel sector to diversify
their portfolio by acquiring assets that are not core for their business in the
form of a hotel complex or a hotel (Edwards, Rosenbaum, & Cheng, 2018).
Description
Despite the fact that the profitability of the hotel business is currently
significantly inferior to the profitability of residential or office real estate, the
hotel can generate its profits almost infinitely.
Problem Identification and Statement of
Research Purpose
With the condition - that the hotel is built correctly and in the right place. And here lies the main
complexity of the hotel industry: with the seeming simplicity and transparency of this type of
business, it is like no other stores in itself a lot of pitfalls.
Unfortunately, in reality, this is not at all the case: it often happens that a beautiful and attractive
project turns out to be unprofitable, although it would seem that everything was done correctly.
Broad Problem Area and Generic Business Decision to be made
The fact is that when building such a complex mechanism as a hotel, it is necessary to answer
thousands of important questions every day, to know the specifics of the domestic hotel business,
which is very different from Western practices, to be able to correctly assess the potential of your
region in terms of attracting tourists (Erdem, & Jiang, 2016).
Description
It is also important from the outset to correctly analyze the site for building a hotel - because the
location of the hotel is often a fundamental factor in the profitability or unprofitability of a hotel
facility. The research assesses the Australian hotel business market as growing and active, and in
this regard, opens a new direction of its activity - "Hotel business: research, analysis of the hotel
market, business plans"
Research questions
We will help you to answer the following questions:
Hotel business - where to start?
What hotels are in demand in your region?
How to build a profitable hotel?
What income can your hotel business generate?
How to beat the competition?
What is the best way to position your hotel?
How to attract guests?
How to provide your guests with the best service?
What equipment and equipment to complete the hotel?
How to find, train staff and evaluate its effectiveness?
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