Strategic Planning for the Hospitality Industry

This document discusses the importance of strategic planning in the hospitality industry, including factors to implement, creative business strategies, and critical success factors. It also explores the impact of COVID-19 on the industry and provides insights on how to adapt and thrive in the changing market.

STRATEGIC PLANNING
FOR THE HOSPITALITY
INDUSTRY 22

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
1. Most appropriate factors to implement....................................................................................3
2. Creative business strategies.....................................................................................................4
3. Critical Success Factor.............................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Strategic planning is going to get a sense of functioning and working in the market which
would be good for the overall development of the business in market for higher revenue
generation. Due to Covid-19 there are a lot of changes which businesses in the market have to
get so that they will be able to compete again in the market. Intercontinental London - the o2
which is located next to the river Thames and is ranked in the top 50 hotels in the city. The report
is going to discuss factors which needs to be implemented in the hotel, strategies which have to
be implemented in the organization to get back in the competition. There has to be a good control
on the strategies and changes which are coming in the company as well so that the company can
maintain their reputation in the market which the organization has gained over years.
1. Most appropriate factors to implement
It is very important that the customer preference is being given importance in the
organization so that there is going to be higher results. It is important for the company to have
sustainability in the market because the competition is very high in this field and having such a
good and reputed image for themselves in the market therefore it is very important for the
organization to be able to make the right decisions by having the right strategies in the market.
There has to be good planning and decision-making in Intercontinental London - the o2 so that
there are going to be higher results which are going to be present in the organization. It is
important for the company to be able to target the changes which are supposed to be got in the
company so that there is going to be better functioning which is going to be present. The
executive and stakeholders of Intercontinental London - the o2 will have to be included in the
decision-making for having the right strategy which is going to help the business be able to
operate effectively (Quintana-García, Marchante-Lara and Benavides-Chicón, 2018). Analysing
the competitors is also very important for Intercontinental London - the o2 at this stage since the
company will have to make sure that there are higher results which are going to be present and
the organization will be able to capture the market again.
 Delivery at home
It is due to Covid-19 there are a lot of impact which Intercontinental London - the o2 is
having which is why the company will have to change the strategies and measures to be able to
operate and function effectively. Intercontinental London - the o2 will be using guests reward

strategies and direct booking so that the customers are going to have better experience in the
market and with the hotel. The trends in the market are changing because the customers are not
wanting to travel therefore there have to be other ways for the hotel to be able to serve the
customers home delivery so that there is going to be some kind of sales present. Food and
beverages delivery is a very good strategy which Intercontinental London - the o2 can use to be
able to make the organization have sales since due to Covid-19 there were no operations in the
company. There are large organizations which have started giving these services already which is
why they are having some kind of income to be able to make the organization not face loss. The
company is not going to have a lot of options with them as well therefore it is very important for
them to be able to accept the changes in the market so that there is going to be higher
performance which is going to be effective in nature (Lin and et.al., 2020). Customers do not
want to move out but to keep them intact in organization they must be given deliveries at home
so that the organization is not going to have a loss altogether. There is a certain kind of
expectation which the customers are having from the organization and that needs to be present so
that the performance level is going to be higher. The safety measures of Intercontinental London-
the o2 will have to be improved so that there can be higher outcomes and the results are going to
be better so that there is going to be higher achievement which is going to be there. Due to this
factor there is going to be a change in the performance and working of the workforce as well
which will have to be improved so that there are going to be better operations. Covid-19 has got
in a lot of changes which the hospitality industry will have to get in so that there is going to be
sustainability which is going to be present and that is also going to impact the overall
performance and development.
 Safety measures
There are a lot of measures for safety which Intercontinental London - the o2 will have to
take to be able to operate effectively and that is going to make the performance of the company
have higher outcomes. Covid-19 has really scared off the customers which were coming in
Intercontinental London - the o2 and that factor has to be maintained so that there is going to be
sustainability in the organization. There are a lot of competitors as well in the market which have
gone in loss and had to shut down all together and that is not a good factor for the business.
Customers have to be given the right information and there has to be good knowledge with the
organization to be able to handle situations which are not going to affect the operations and

performance of the company overall (Nowak, 2020). Intercontinental London - the o2 has
already got in a lot of changes in the organization to be able to function and operate effectively
so that the results are going to be higher but the company will have to make sure that the
organization is taking right measures so that the workforce of the organization also does not get
affected. Intercontinental London - the o2 will not just have to think for the customers but also
the employees so that the productivity of the organization is going to be higher and well
maintained. There are a lot of policies which the government has put so that there is going to be
higher performance which is going to be present and it is important Intercontinental London - the
o2 will have to follow in order to be able to operate effectively in the market. There are safety
and security measurer which the hotel will have to be very sure about following so that there is
going to be higher results and the performance and reputation of the hotel in the market is going
to be maintained.
2. Creative business strategies
There are a lot of business strategies which are present in the industry for the business to
adapt to so that there is going to be growth of the business again. Intercontinental London - the
o2 is having a good brand image and reputation in the market which is a very good factor for the
company to have which can make the sales of products and services of the hotel start again.
There are right measures for the safety of the customers which are being taken care of but there
have to be right strategies so that the organization will be able to gain something from the market
again (Kuo, Chen and Tseng, 2017). There have to be unique strategies which Intercontinental
London - the o2 will have to adapt to so that there is going to be loyalty of the customers which
is going to be present. There has to be good communication with the customers of the hotel so
that they know what are the changes which are taking place for their safety or any other aspect so
that the sales of the products and services of the organization is going to increase. The company
needs to focus on getting back in the competition which was already existing in the market so
that the organization will be able to operate and function effectively for higher revenue
generation (Bharwani and Talib, 2017).
 Pricing Strategies
Intercontinental London - the o2 can use pricing strategies and due to Covid-19,
customers have reduced coming to the hotel therefore reducing the pricing is going to be helpful

for the organization to be able to get in the number of customers higher. The competitors of
Intercontinental London - the o2 are Marriott, Hyatt hotels, Belmond, etc. who have reduced
their pricing in the market so that they can get back their loyal customers attention and make
them feel safe to be able to travel (Ahmad, 2016). Other organizations in the market are reducing
the prices in order to be able to get back their base in the market which would help the company
be able to operate effectively.
 Technological advantage
Another strategy which Intercontinental London - the o2 can use in the market is
technological advantage which is that the competitors have gotten online which is going to make
the sales increase. Getting online with the food and beverage industry is a very good idea for
Intercontinental London - the o2 in the market since the organization is already well prepared
and they have experience in the market as well which can be used by the organization to be able
to operate effectively (Segovia-Pérez and et.al., 2019). This is going to be effective in all kind of
industries which are present and that is going to make the organization have higher performance.
Intercontinental London - the o2 is providing the customers with self check in and check out
from mobile phones where the customers have to fill all the details on their own so that there are
going to be higher performance which is going to be present (Jones and Comfort, 2020).
 Improvement in the customer services
Another strategy which Intercontinental London - the o2 can implement in the market is
going to be improvement in the customer services so that the results are going to be effective. It
is important for the organization to get in higher customer value right now by Intercontinental
London - the o2 so that there is going to be better functioning and the performance of the
organization will also have to be improved so that the company is going to have higher results.
There has to be good leadership strategy which Intercontinental London - the o2 must use in the
market so that the changes can come in the market easily so that there are going to be effective
functioning (Elbanna, 2016). Leaders are going to guide workforce so that there are going to be
easier methods which can be used and the working is going to be smooth and there is going to be
some kind of competitive advantage which would be present. Strategies in the market have to
changes so that the customers can get attract and the organization is going to have some kind of
sales in the market which is a very important factor. It is important for the hotel to get in the

changes according to the customers of the organization so that there are going to be higher
results (Adeyinka-Ojo, 2018).
3. Critical Success Factor
COVID has highly impacted hospitality industry and no one can remain unaffected from
it. In beginning Intercontinental London - the o2 faces various kind of challenges because of it
but still organization able to maintain revenue through different strategy. In lock down company
take help from government for running its business for example: Travellers pre and post
quarantine facility is provided by the firm and it helps in revenue generation. Company again
play a strategy that single room is allotted to person rather than combine because of quarantine
and it helps in booking of room of 14 days, in which more customers can come and stay and
hence more profit can be earned through it. After the first up-liftment of COVID, government
also started food takeaway programs which again helps in generation of revenue and increase
market share. Company has earned profit of £40000 out of £70,000 revenue in the pandemic
from travellers that come from different places and hence it able to maintain financial ability in
it. Company also generated revenue by providing refreshing and immunity booster activities to
customer, and they charged as per the monthly course (Jones and Comfort, 2020). If after 14
days’ customer not want to continue amount will be not pay back by the firm and hence firm able
to increase market share. Firm also implemented major changes after government allowed tourist
in the city and it is more focused towards safety of people and for that additional charged hiked
by organization which help in increasing profit and gain competitive advantage in changing
business.
Key Performance Indicator:
Company achieve by government for supporting it for staying COVID patient during
pandemic and it increases image of the firm in changing business. There are many facilities that
firm has provided to customers which again help in gaining ranking in Britain market. Under the
corporate social responsibilities firm has provided food packets to poor in the country and hence
good will of the firm improve in front of people and the government. In lock-down tourism of
the firm country faces un-bearable challenges but company able to manage revenue; it follows
strategy of gaining profit with the help of quarantine system adopted by government. It also
marketed firm for its contribution in difficult times which positively impact on image of firm and

able to gain large market share in the country. Company receive various awards by different
NGO for supporting people in pandemic (Adeyinka-Ojo, 2018). Before the lock down the hotel
was doing very well in the market and had a good set of loyal customers which were present in
the past and they will have to be got in again. Hotels like Radisson, and large hotels have already
started with getting in customers so that there is going to be higher performance which would be
present. This is going to make the sales and revenue generation get limited which needs to be
developed in the organization again so that they will be able to keep up with their competitive
advantage. Media highlighted firm contribution towards citizens of the country and hence able to
attract masses in the country. It also follows strategy of branding the firm on online platform by
taking review and update on its social media accounts which helps in acknowledging
contribution of the firm in changing market. Organization staff also get various awarded for good
gesture towards quarantine customers and also they get tips for good behaviour. Maintaining
cleanliness and safety at work place again decrease tension of customer and separate room with
Wi-Fi and other facility also help in gaining confidence of customers. Immunity booster activity
with healthy food by firm Intercontinental London - the o2 also protected customers from
COVID.
Balance Scorecard
It is strategy performance tool that helps management in evaluation of different activities
at workplace. It is important for Intercontinental London - the o2 to have a good and effective
monitoring as well as controlling of the workforce so that there are going to be higher results in
the business. Balance scorecard is going to make sure that the employees are following the trends
and changes which are coming in Intercontinental London - the o2 so that the productivity and
operations of the business is going to be same. Customers have to get got back in the hotel so
that the economic stability is going to be present and future decisions and investment can be
decided accordingly (Bharwani and Talib, 2017). There are well-designed strategic objectives
which the business is having and designing for having a competitive advantage yet again in the
organization. Performance in business has to be measures because the competition in the
hospitality industry is high and they have to be well maintained so that the company can have
higher performance. This is going to be good for customer satisfaction as well so that the
organization have higher and improve costing for all the changes which are coming in
Intercontinental London - the o2.

Interpretation
The Royal Horseguards hotel is very popular in London and a great competitor of
Continental London- the o2 hotel because they have the right measures and methods which are
being used for making the market share higher and get in more customers in the organization. It
is important for the company to get in the right clients in order to have a stable operations and
functioning which needs to be present so that there are going to be higher functioning and
performance. Right employees are required in the company so that there is going to be right
changes coming in the hotel so that the company can have higher functioning and performance
which is going to be present. Changes will be able to come in since the competitors have already
got the changes which are important and would help the company to be able to make the right
opportunity in the market for themselves.
CONCLUSION
From the above report it can be concluded that the businesses in the market need to have
a stable functioning for themselves in the market. There is a lot of difference which has come in
the sales and profitability in the market due to Covid-19 and that needs to be handled by
businesses in the market effectively so that the performance is going to be stable. Sustainable
decisions and measures have to be decided by the businesses in the market so that the business
will be able to cover up in the market so that the smooth functioning and efficient working is
going to be present. There are a lot of strategies and according to the business there have to be
right measures which the organization will have to take which would make the company have
better operations in the market.

REFERENCES
Books and Journals
Adeyinka-Ojo, S., 2018. A strategic framework for analysing employability skills deficits in rural
hospitality and tourism destinations. Tourism management perspectives. 27. pp.47-54.
Ahmad, U., 2016. Application of multiple criteria decision making techniques in tourism and
hospitality industry: A systematic review. Transformations in Business &
Economics. 15(1). p.37.
Bharwani, S. and Talib, P., 2017. Competencies of hotel general managers: A conceptual
framework. International Journal of Contemporary Hospitality Management.
Elbanna, S., 2016. Managers' autonomy, strategic control, organizational politics and strategic
planning effectiveness: An empirical investigation into missing links in the hotel
sector. Tourism Management. 52. pp.210-220.
Jones, P. and Comfort, D., 2020. The COVID-19 crisis and sustainability in the hospitality
industry. International Journal of Contemporary Hospitality Management.
Kuo, C.M., Chen, L.C. and Tseng, C.Y., 2017. Investigating an innovative service with
hospitality robots. International Journal of Contemporary Hospitality Management.
Lin, H.C and et.al., 2020. Task-technology fit analysis of social media use for marketing in the
tourism and hospitality industry: a systematic literature review. International Journal of
Contemporary Hospitality Management.
Nowak, R., 2020. Does employee understanding of strategic objectives matter? Effects on culture
and performance. Journal of Strategy and Management.
Quintana-García, C., Marchante-Lara, M. and Benavides-Chicón, C.G., 2018. Social
responsibility and total quality in the hospitality industry: does gender matter?. Journal
of Sustainable Tourism. 26(5). pp.722-739.
Segovia-Pérez, M and et.al., 2019. Incorporating a gender approach in the hospitality industry:
Female executives’ perceptions. International journal of hospitality management. 76.
pp.184-193.
Online
Rollinson, R., 2015. The 5 Most Important Factors to Successfully Implement Strategy. [Online].
Available through: <https://www.lblstrategies.com/the-5-most-important-factors-to-
successfully-implement-strategy/>.
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