Strategic Planning for the Hospitality Industry

Strategic Planning for the
Hospitality Industry 21

Table of Contents
Introduction......................................................................................................................................3
TASK...............................................................................................................................................3
1. Appropriate factors to implement a chosen strategy...............................................................3
2. Creative business strategies.....................................................................................................4
Analyse and evaluate the different performance metrics............................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

Introduction
Strategic planning is conducted as an ongoing way which allow the creation, comprehension
and execution of new corporate strategy and standards through an integrated solution useful for
increasing profitability and efficiency. Methodology is being used to handle activities and
expand the potential to increase sales and revenue efficiently. Any company's goal is to detect
the general situation as well as to prepare for the enhancement of corporate productivity and
effectiveness with a suitable goal (Okumus and other businesses, 2019). It is valuable to generate
effective comments and insights for achieving influential company goals that lead to
development and growth.
This research is focused on Camden Enterprise Hotel, which provides its clients with
outstanding amenities and luxury services with modified food facilities and is also known for
incorporating new improvements and integrating state-of-the-art innovations for long-term
existence in competitive market. This study deals with many aspects, such as developing
strategic plans to become sustainable in the hotel industry including efficiency indicators, which
can be used for success assessment.
TASK
1. Appropriate factors to implement a chosen strategy.
The strategy is the usual method that each business uses to achieve its vision and
objectives throughout complicated circumstances. It is important for the organisation as it is a
crucial component to achieve in developing the plan. In view of the potential for successful
development and progress (Yoon, Jang and Lee 2016), the above seem to provide a prominent
path. Alongside this approach, the main goal of the group is to meet the industry needs and the
demand of customers by considering key tools within the competitive business climate. The
Hoxton Shoreditch provides a wide variety of essential features and it is critical to analyse
multiple considerations when implementing its strategic approach, which effectively extends by
the provision of franchise agreement, because some of them could be described below:
Dedication: It is decided to do tasks and to accomplish prominent practises of maximum
potential. Engagement: At the time of implementation of a plan commitment, every person
requires affectionate commitment, involving management and staff in the implementation of the
planned strategy, to fulfil their roles prominently. There are different kinds of commitments that