Strategic Planning for the Hospitality Industry

This report discusses the importance of strategic planning in the hospitality industry. It covers factors for implementing a chosen strategy, research on creative business strategies, and evaluation of performance metrics. The case study focuses on The Hoxton Shoreditch hotel.

Strategic Planning for
the Hospitality Industry
15

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Critically analyse the most appropriate factors to implement a chosen strategy.........................3
Research about creative business strategies for your chosen organisation’s future strategy
selection to be competitive in the hospitality industry................................................................5
Analyse and evaluate the different performance metrics............................................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Strategic planning is undertaken as the continuous procedure that leads to create innovative
business strategies and norms with proper understanding and also implement them with the help
of effective plan which is useful in enhancing the profitability and performance. Strategy is used
in order to manage task and enhance the ability with the effective purpose of increasing higher
income and revenues. For this the objective of every company is to identify the overall situation
and then make their plans with proper objective in terms of enhancing the performance of
business and profitability(Okumus and et. al., 2019). It is useful in developing effective ideas and
thoughts in terms of attaining prominent business objectives that leads to contribute towards the
growth and success. This report is based on TheHoxton Shoreditch hotel that leads to offer
excellent quality of services and food to their customers and also famous in terms of
implementing new changes and introducing advanced technology for the long-term survival. The
report covers various factors like execution of the development of business strategies in terms of
becoming competitive in hospitality industry and the concerning performance metrics which is
useful in measuring performance.
MAIN BODY
Critically analyse the most appropriate factors to implement a chosen strategy
Strategies undertaken as the normal plan which is used by each and every Organisation in
terms of accomplishing their goals and objectives within the complex situations. It is critical for
the business in terms of devising the strategy as it is the key component for becoming successful.
It tends to offer a prominent direction considering the scope of business for the effective growth
and success (Yoon, Jang and Lee, 2016). Along with this strategy also helpful in terms of
accomplishing benefits for company by considering prominent resources within the challenging
business environment with the objective of considering market requirements and fulfilling the
Desire of stakeholders.The Hoxton Shoreditch has prominent features including wide range of
guestrooms and to run their organisation prominently it is important to consider various factors at
the time of executing their strategy which is effective expansion by offering franchising as some
of them are mentioned below:
Commitment:It is undertaken as an agreement in terms of performing things and
prominent activities with full potential. At the time of executing strategy commitment is

considered as the basic element as each and every individual need affective commitment to
perform their functions prominently that include employees and management as well to involve
execution of the devised strategy. For this there are various types of commitment that are
essential for implementingprominent strategy.Moreover, considering the franchising is strategy
for The Hoxton Shoreditch its employees and stakeholders are considered as the prominent
factor in terms of implementing the strategy. It is identified that commitment is complex factor
that make people involved and dedicated towards their work in terms of accomplishing
prominent objectives. It can understand by their competitor Marriott who has the best
stakeholders and investor contribution as they have build yup their trust over the years.
Communication:It is essential for the company in terms of maintaining transparent and
effective communication with the help of prominent coordination among employees at the
workplace as it is useful in overcoming upcoming challenges and improving the current
performance. Good communication is the key to help on improving performance and help to
maintain new relation with public and outsiders which will be beneficial for franchise. It leads to
formulate the procedure for the staff members of company considering the various strategies
with the objective of accomplishing goals (Ferreri and Sanyal, 2018). In terms of The Hoxton
Shoreditch various types of employees are working in several departments including finance
operations production marketing room service customer support service sales and many more in
which people are focused towards various factors and maintain transparent communication.
Marriott is evaluation rise in communication at all levels also customer greetings and a code of
greeting has been set to traet customers or any outsiders well. It is also useful in bringing
uniqueness and effective execution of prominent process which is useful in increasing the sales
and profitability.
Engagement:Effective planning is important as it is the strategic procedure that should be
considered by the management to offer effective and quality production services. It is also
essential to consider the prominent requirements at the time of effective operations and
administration. For this the involvement of employees in the organizational activities is
important in terms of generating extra units which is useful for developing prominent
commitment to the plan (Bouranta, Psomas and Pantouvakis, 2017). For instance, if employees
are prominently involved in the organizational strategies then it became easy to accomplish the
task within the stipulated period of time by removing various barriers. In terms of The Hoxton

Shoreditch their management plays an important role in terms of identifying the requirements of
staff members and also involve them in decision making process of company which is useful in
managing the task and also leads to enhance the overall productivity and performance of Hotel.
Workforce:It represents that execution of franchising strategy should be executed by the
prominent help of workforce and for this it requires Win-Win relationship among the employees
and Organization. In regard of the implementation of strategy it tends to disappear because of
impossible relation problems among employees Because of the shortage of commitment and
trust. It is important for different of The Hoxton Shoreditch to make sure the prominent presence
of men power and effective knowledge in terms of delivering the qualitative customer service at
the time of executing strategy. Their competitor hotel Radisson blue has the best workforce
engagement and has number of employees to provide effective services. these factors makes the
hotel the best into the country and be the essence forexpansion.
Research about creative business strategies for your chosen organisation’s future strategy
selection to be competitive in the hospitality industry
By considering the above discussion based on the strategies it is identified that strategies
are essential for company in terms of developing their goals and managing the prominent
activities. For these effective strategies are developed by the management in terms of increasing
performance and productivity and also leads to accept changes with the prominent performance.
For this the upcoming business strategy that are opted by The Hoxton Shoreditch in terms of
being competitive are mentioned as underneath:
Pricing strategy:It represents that the prominent price of products matters a lot for the
individuals as most of the people are price sensitive and takes lot of time in terms of selecting
best product at the reasonable prices. For this company needs to offer prominent production
services at the affordable prices that describe effective opportunity in terms of extracting Huge
number of customers and inspire purchasing decisions (Ansari and Kant, 2017). Hence to
perform better against their competitors The Hoxton Shoreditch need to focus on the price of
products.Moreover, the upcoming strategy which is obtained by The Hoxton Shoreditch in terms
of offering services at the cheap prices against their competitors is useful in accomplishing
competitive advantage (Len'chuk, and Filatov, 2018).

Product differentiation:It depicts that the prominent products and services that are offered by
company should be unique and eye catchy which is useful in acquiring and attracting large
number of market area and also helps in increasing competition. Considering the dynamic
business environment, it is important for the marketer to undertake preferences and requirements
of customers and it is essential to develop effective products and services which is useful in
increasing the profitability and sales. It is another future strategy in which management of The
Hoxton Shoreditch in terms of offering effective taste of beverages food and services which is
unique from their Rivals and useful in accomplishing competitive benefits (Cohen, 2017).
Improvement in customer service:It is essential for the business strategy and also used by
company in terms of enhancing the customer service and also helps in becoming competitive.
For this customer tends to face prominent issues in terms of selecting effective products
considering the demand of customer service by solving their problems (Martínez-Martínez and
et. al., 2019). For this is the management of The Hoxton Shoreditch conduct proper analysis of
situation considering the business organisation in terms of bringing changes in the customer
service which is useful in influencing the number of competitors and increase the competition.
Use of new technology:The modern world tends to change in terms of various activities
and eliminate things day by day. For this change is introduced as a challenge among
organisations and the need to opt them in terms of making their survival smooth with the
objective of sustaining in the competitive market for accomplishing business objectives (Shamim
and et. al., 2017). In terms of becoming competitive in the hospitality industry The Hoxton
Shoreditch need to focus on the new technology including digital entry easy checkout chatbots
and many more which is useful in enhancing the prominent area for customers and maintain
competitive advantage.
Promotional business strategy:In this company launch prominent production services and for
this effective advertisement is required which is useful in informing their customers regarding
the launch of their products and motivate them to purchase it. For the effective promotion of
products, it is required to undertake several sources and effective process which is useful in
acquiring prominent customer vision (Mair, Ritchie and Walters, 2016). In relation with The
Hoxton Shoreditch management can use website magazines online marketing newspaper and
many more with the objective of informing individuals and delivering them prominent services
(Flavell, 2017)

Maintain quality and hygiene:By considering the current situation of pandemic which is
faced by whole world and they become more health conscious in terms of looking towards the
hygiene and proper sanitized area for their food and accommodation. It depicts the prominent
demand and effective opportunity for choosing company in terms of developing competitive
advantage by offering significant facility (Moutinho and Vargas-Sanchez, 2018). For this the
management of The Hoxton Shoreditch opt various strategy by providing effective hygiene and
sanitized area considering the health and safety from disease. It is also useful in increasing the
business performance for the dynamic environment and improve the profitability.
Therefore, after the proper examination it is identified that effective selection of strategies is
important in terms of influencing the large number of customers and increase the profitability.
For this the strategies are useful towards the competitors in terms of challenging and dynamic
environment that helps in maintaining competitive advantage (Yıkıcı, and Altınay, 2018).
Analyse and evaluate the different performance metrics
Performance metrics is considered as the effective procedure that consider analysis of
reporting information collection which is related with the performance of individual team and
business. It is useful in measuring the prominent activities performance and behaviour of
company full stop effect in measurement of performance is suitable and Critical to identify the
methods which is used by work force in terms of accomplishing their targets and objectives
(Wang and et. al., 2016). It is considered as the integral part of success as effective performance
metrics offer prominent information with suitable outcome that helps in identifying the quantity
in terms of vomiting effective improvements. In relation with The Hoxton Shoreditch its
department manager uses performance metrics for the prominent evaluation and use of
organisational offerings. It happens because of the prominently informing regarding the key
decisions for the future and identified considering the several types of performance metrics that
can be obtained by the hospitality industry in terms of tracking the business process. Prominent
performance metrics that can be used by The Hoxton Shoreditch is evaluated as below:
Key performance indicators:The key performance indicator is referred as the measurable
factor that represent the effective things for the organisation in terms of achieving success and
prominent goals and objectives of company. For this company need to know the prominent

activities and performance of business and their efforts towards the improvement. It is the
effective technique which is used in terms of measuring overall performance of company and
also helps and developing plans which is useful in solving critical problems by increasing values
(Chen and et. al., 2017). For this every hotel and Organisation need to consider key performance
indicator at various levels which is executed at the time of success in terms of reaching towards
the target and prominent level of indicators. In terms of this low-level indicators represent the
process of particular department including sales marketing production HR and many more. It
leads to include various types of financial indicators and in terms of The Hoxton Shoreditch
Management tends to use financial and non-financial key performance indicators to analyse the
performance and developing plan which is useful in increasing the profitability and sales. With
the help of financial indicator, the management of The Hoxton Shoreditch tends to identify the
effective activities which is useful in generating profit and also effective for customers. Besides
from this the indicator is useful in identifying the prominent activities regarding the promotion
and other supportive function that helps in enhancing towards the changing environment and also
useful in increasing profitability. Just like the Hotel Marriott measures their performance at very
short intervals so that each and every aspect could come up with the relevancy and weak areas
could be judged and solved. In case of Hotel intercontinental, they have less focused on their
performance measurement which leads to their less proficiency and market reach without closing
their revenue and performance analysis. That is why, the Marriott has taken a high growth in
market as compare to hotel continental.
Balance scorecard: It is represented as the strategic performance metrics that described the
enhancement of various internal organisational functions with prominent outcome. For this the
effective objective is to use balanced scorecard in terms of measuring and sharing feedbacks in
the organisation. The Hoxton Shoreditch should use this method in terms of measuring their
business aspects including finance procedure customers growth and learning.Moreover, the
analyst of Hotel prominently identifies the factors that can become barrier for the performance
and also outline the strategic changes in terms of tracking by upcoming score cards. It is
identified that balanced scorecard provides effective Framework in terms of developing and
communicating prominent strategy (Moro and Rita, 2018). It also leads to enhance the
communication for the implementation of effective strategy and involve workforce towards the
external stakeholders for effective delivery and developing tactics. As like hotel Radisson blue,

who has the best services into the UK which provide more of attractive discounts and future
credit points through which they retain existing customer retention. Also, they use this indictor as
a tool to of its outcome. This Matrix a line with the projects and initiatives in terms of making
sure that it focuses on offering significant strategic subject matter. This methodology is useful
for the manager and administrator in terms of Designing effective indicators and improving
performance report by factor bye offering process alignment and collecting data. The
performance metrics sometimes mislead several terms as it does not focus on the competitors and
external factors with the help of prominent analysis of risk and also create complexities in
maintaining strategic mapping.
Critical success factor:It is an effective and prominent performance metrics that represent
effective situations and opportunities which is required to achieving effective practices of the
project. It leads to undertake suitable circumstances and variables that are essential to enable
positive outcome for the performance of company. in terms of The Hoxton Shoreditch this
method is useful in making sure the success factor (González-Rodríguez and et. al., 2018). The
success factor of Hotel includes strategic focus finances people operations and marketing and to
identify it critical success factors are important for the project manager to examining the critical
objectives success factors and also communicate all of these to the staff members. It is beneficial
for The Hoxton Shoreditch because it offers objectives and Benchmarks for the company as it
also needs to acquire the proportion of market share in terms of generating effective profit and
for this employee need to be aware regarding the objective.
CONCLUSION
By considering the above discussion it is identified that to develop strategies it is important
to consider prominent plan and regulate it with effective strategy in terms of being competitive in
business environment. Along with these various factors are useful in terms of increasing the
performance of business by focusing on the significant competitive Advantages. Moreover, the
strategic execution needs to develop prominent goals by making efforts which is useful and
maintaining healthy relations and increasing performance. Lastly prominent performance
measuring Tools and techniques are used that helps in bringing innovation in terms of increasing
sales prominently.

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(Len'chuk, and Filatov, 2018)

(Cohen, 2017)
(Flavell, 2017)
(Yıkıcı, and Altınay, 2018)