Strategic Planning for the Hospitality Industry

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