Strategic Planning for the Hospitality Industry

This document discusses strategic planning in the hospitality industry, focusing on the case of Lancaster Gate Hotel. It analyzes the factors necessary to implement a chosen strategy and explores creative business strategies for future competitiveness. The document also evaluates different performance metrics and critical success factors.

Strategic Planning for the
Hospitality Industry 5

Contents
INTRODUCTION...........................................................................................................................1
PART 2............................................................................................................................................1
TASK 4............................................................................................................................................1
Critically analyse the most appropriate factors to implement a chosen strategy.........................1
TASK 5............................................................................................................................................3
Research about creative business strategies for your chosen organisation’s future strategy
selection to be competitive in the hospitality industry................................................................3
Analyse and evaluate the different performance metrics............................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Strategic planning is considered as an organisational management activity which is utilised
for setting priorities, concentrate resources and energy, strengthen practices, and assures that
staff and other stakeholders are performing towards common objectives and others. This is
essential for all entities including hospitality industry as this facilitates a sense of guidance as
well as highlights measureable goals (Beirman, 2020). For this report, the undertaken company is
Lancaster Gate Hotel, which is a 196 room value hotel situated into central London. Also, a two
minute walks to Hyde Park as well as five minutes’ walk to nearest underground station. The
topics which are covered in this report are critical analyse effective factors to implement opted
strategy and various creative business tactics. Apart from this, several performance metrics are
discussed into this report.
PART 2
TASK 4
Critically analyse the most appropriate factors to implement a chosen strategy.
Strategies executed as common plan which is utilised through each entity in respect of
attaining its goals as well as desires into dynamic situations. Moreover, this is vital for firm to
develop a plan, as this is a core element of development. In addition to this, it intent to provide
essential way of considering the marketing reaches for successful growth and development. This
is also efficacious in acquiring organisational benefits through undertaking considerable funds
within competitive business atmosphere with intent of knowing client’s requirements as well as
satisfying shareholders wishes (Chirima and Jachi, 2020). Lancaster Gate Hotel has essential
characteristics like huge variety of bedrooms as well as for operating its firm efficaciously.
Moreover, this is vital to recognise several undertakings during adoption of its plan, that re
effectual expansion through facilitating franchises as few of them are described underneath:
 Communication: For assuring open as well as effectual interaction with assistance of
appropriate team work between staff within work area. This is essential for entity as it is
helpful to overcome potential challenges as well as maximising present outcomes. Along
with this, it drives towards developing procedures for firm’s employees to undertake
several tactics with intent of attaining objectives. Several workers categories performs
into various departments in context of Lancaster Gate Hotel such as development of
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finance operations, marketing guest room, customer care and many more of that
employees comes under various aspects as well as assures straightforward coordination.
Also, this is also useful to recruit persons and productive usages of effective method
which assists in gaining profitability and revenue.
 Personnel: This undertakes that introduction of franchise business plan may be
performed with leading support of staff as well as required a win-win partnership among
employees as well as fir it. With respect to execution of tactics, due to lack of faith and
loyalty, this tends for disappearing because of impossible relations problem between
workers (Hossain, Kannanb and Ramanc, 2020). Along with this, it is vital to assure
efficacious involvement of male power as well as appropriate experts in respect of
facilitating qualitative consumer support during firm’s growth period for particularly of
Lancaster Gate Hotel.
 Engagement: Successful planning is essential as this is strategic mechanism for
delivering efficacious as well as quality resources available that entity have undertaken.
During period of effectual administration as well as operations, this is often crucial to
undertake popular criteria. For developing extra units which aids to develop substantial
contribution to project, the staff presence into firm’s activities is vital for this intent. Such
as once employees are effectively involved into corporate plans, this have become simple
to attain mission through obviating various hindrance into stipulated time period. The
Lancaster Gate Hotel’s management plays essential role in explaining staff requirements
of as well as also incorporating them into entity’s procedures of decision making that is
useful in managing job and also contributes towards developing whole effectiveness of
hotel.
 Commitment: In respect of performing task as well as several essential activities with
more capacity, this is performed as an arrangement. Involvement is monitored as the
central aspect during execution of plan as whole individuals desires efficacious
involvement to implement its roles efficiently, involving administrative and workers and
enforces planned tactics (Hussain and Khan, 2020). Moreover, there are several types of
dedication to it, which are vital for implementation of influential tactics. Along with
franchising plan for Lancaster Gate Hotel is undertaken through their partners and
employees as main consideration into implementation of strategy. Moreover, this is also
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consider taht dedication is one of the dynamic aspects whcih needs as well as dedicates
persons to its work for accomplishing vital objectives.
 Clear market position: This is one of the essential aspects that includes stages of
formulating brand reputation as well as determined business firm for creating awareness
within marketplace effectively and efficiently. This factor aids firms and customers to
aim or same target market. For implementing franchising strategy, management of
Lancaster Gate Hotel needs to determine marketing position of brand as this aids in
obtaining insistent shares that are required for sustainable business future, moreover, this
is determined that through having clear market position which is vital factors and that
focus upon franchising system for managing the brand perception as well as meet
consumers desires. Along with this, it is analysed that clear market positioning aids
franchise brands to differentiate them from rivals as well as also provide assistance in
creating emotional bonds with potential guest. Also, this is crucial for franchisee to
comply effective framework of business that is to be set through franchisor. Moreover, it
will assist Lancaster Gate Hotel to implement franchising strategy in effectual and
efficient way.
TASK 5
Research about creative business strategies for your chosen organisation’s future strategy
selection to be competitive in the hospitality industry.
This is understandable that strategies are essential for firm in respect of formulating its
priorities as well as managing effective activities through undertaking the above mentioned
strategy and factors upon techniques (Lim, 2020). Moreover, the administrative develops
successful tactics along with enhancing effectiveness and competitiveness with this operative
system and often contributes towards embracing developments for influential effectualness. For
instance, the further market plan which the Lancaster Gate Hotel undertakes in respect of being
successful is discussed underneath:
 Maintaining quality and hygiene: Through undertaking the present pandemic situation
that is tackle through overall world as well as it becomes much health conscious in
respect of seeking towards hygiene and appropriate sanitized area for its accommodation
and food items. Along with this, it depicts effective desires as well as opportunity for
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opting firm in order to develop competitive edge through providing vital facility. For
instance, Lancaster Gate Hotel’s management adopted several strategy through
facilitating sanitized are as well as hygiene undertaking health and safety from various
diseases. This is also helpful in enhancing the performance of business for dynamic
atmosphere as well as develops profitability.
 Utilisation of new technology: Within this modern world, it tends to modify in respect
of several practices as well as obviate things at regular basis. For instance, change is
performed as a challenge among entities as well as requires adopting them in context of
developing its survival smoothly with intent of sustaining into competitive market place
for attaining business goals (Prodan, 2020). Moreover, in context of becoming
competitive into hospitality sector Lancaster Gate Hotel required to concentrates upon
advanced technology involving digital entry simple checkout chat bots and others that is
helpful in maximising effective area for consumers as well as maintaining competitive
edge.
 Product differentiation: This states that effective products or services which are
provided through entity must be innovative as well as grabbing attention that is helpful
in obtaining and gaining huge marketplace. it also aids in enhancing competition.
Undertaking the dynamic business atmosphere, this is vital for marketer to consider
needs and preferences of clients as well as this is vital to formulate effectual goods or
services that is helpful in enhancing sales and profit. Along with this, the other future
tactics where Lancaster Gate Hotel’s management in context of facilitating effectual
food and service beverages tastes that is innovative from its competitors and aids in
attaining competitive advantages.
 Promotional business strategy: With respective hotel, they launch effective services as
well as for it appropriate advertisement is needed that is helpful in informing its clients
related to their services as well as encourage them to avail it once. For effectual
promotion of services, this is needed to consider various sources as well as proper
procedures that is helpful in obtaining major vision of consumers. In respect of Lancaster
Gate Hotel’s management may utilise websites, social media, online marketing and
many others with intent of informing persons as well as delivering high-flying services.
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 Pricing strategy: This states that effective products or services prices concern about
much for person as essential individuals are price sensitive. Moreover, it also undertakes
huge time in respect of choosing effective goods at affordable prices. For instance, entity
requires facilitating appropriate services at reasonable cost which explains efficacious
opportunity in context of extracting large number of guests as well as encouraging
buying decisions (Rauch, Matt and Linder, 2020). Thus, for performing effectively
against its rivals. Lancaster Gate Hotel requires to concentrates upon services and
facilities prices. As the future strategy that is acquired through respective hotel in context
of providing service at affordable price in comparison to its competitors is helpful in
attaining competitive edge.
Thus, after effective analysis, this is determined that appropriate adoption of strategies is
essential in respect of influencing huge number of consumers as well as enhance profit. For
instance, the tactics utilised are helpful towards competitors in context of dynamic as well as
challenging atmosphere which aids to maintain competitive edge.
Analyse and evaluate the different performance metrics
Performance metrics is regarded as powerful tool which are utilised for measuring the
practices, attitudes and performance of business. Moreover, it has to be in types of information
which evaluates required data into a range, permitting a basis to be developed supporting the
attainment of whole business objectives. Also, the measuring performance by metrics is key to
seek how workers are performing as well as whether goals are being accomplished or not. Some
of the performance metrics which can be applied by Lancaster Gate Hotel are discussed below:
Balance Scorecard: This is defined as one of the vital performance metrics tools which is
utilised for determine as well as improving several internal business activities. Moreover, this is
applied for measuring and facilitating feedbacks to entity. Within firm, data collection is vital in
order to render quantitative outcomes as information accumulate is interpreted through
administrative and executives (Wahab, 2020). It aids them to develop appropriate utilisation as
well as effective decision of entity. The manager of Lancaster Gate Hotel can utilise respective
metric for reinforcing appropriate behaviour within workplace in order to isolate into several
areas which required to be evaluated. Additionally, this also undertakes areas like incorporates
into learning and development, business procedures, consumers and monetary measurements of
Lancaster Gate Hotel. Also, with assistance of this, manager may simply determine factors of
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hindering firm’s performance as well as highlights the strategic changes which are required to be
tracked through maintaining balance scorecards. In addition to this, it is also helpful for
managers for looking towards business objectives. Along with this, it also used in formulating
strategic goals and incentives which are essential for accomplishing firm’s objectives. In addition
to this, it also assists in maintaining workers learning development are evaluated by analysis of
training & development as well as aids them to gain resource understanding. This is helpful for
manager to assess as well as process through researching how products or services are developed
as well as track gaps in which they are lacking behind.
Key performance indicators:
This is defined as the measurable factors which show efficacious aspects for business in
context of attaining their objectives and success. Within entity various factors plays an essential
role in respect of evaluating key performance of business in effective and efficient way (Savic
and Dariescu, 2020). Into this procedure, Lancaster Gate Hotel’s management plays vital role in
determining service quality as well as their facilities through measuring them by various types of
business approaches. The performance indicators in Lancaster Gate Hotel are categorised in
several manner. By it, they may able to manage its working aspects appropriately as:
 Accommodation: These aspects are depends upon average room rate, labour cost,
bedroom occupancy rate and many others. With assistance of these activities Lancaster
Gate Hotel may easily determined its performance of business activities that depends
upon analysis practices. Whole these activities aids in performing modification as well as
improvement as per guest needs and desires. The key performance indicator formula is
ARR = Total room revenue / Total rooms occupied.
 Food and Beverage: It is one of the specific departments of Lancaster Gate Hotel that
aids to sustain staff with the entity for longer period. Respective units facilitates quality
foods and service to their guest as per it desires and wants. By it, they develop long term
relations with them for business development and growth.
 Profitability: Within this process, finance department of Lancaster Gate Hotel plays vital
role. The key objective of this department is to maximise profitability as well as growth
of business by various business activities. Whole these aspects ascertain practices of
financial management with aids of accounting managers.
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Critical success factor: This is effectual and appropriate performance metrics which shows
appropriate circumstance as well as opportunities that is needed for attaining business and
project activities. Moreover, this drives towards undertaking effective variables as well as
situations which are crucial to gain optimistic results for firm’s performance (Stoeglehner,
2020) .In respect of Lancaster Gate Hotel , this method is utilised for assuring success factors.
The Lancaster Gate Hotel’s success incorporates strategic concentration upon finances
individual’s practices as well as marketing and to determine their critical success factors are
essential for project administrative to analyse key goals success factors as well as also
communicate whole of these to employees. Moreover, this is advantageous for Lancaster Gate
Hotel as it provides goals as well as standards for business as this also required to obtain market
share proportion in respect of gaining effectual profitability. For instance, staffs require being
aware related to respective business goals.
CONCLUSION
Based upon this, it has been concluded that for developing tactics, this is essential to
undertake effective plans as well as regulate it with effectual strategy in respect of being
competitive within business atmosphere. Moreover, there are several factors which are helpful in
enhancing business performance through concentrating upon vital competitive edges. In addition
to this, the strategic implementation requires to form well defined objectives through doing
efforts that assists to maintain healthy relationship as well as enhance performance. Apart from
this, effectual performance measuring techniques such as balance scorecards, key performance
indicators and others which aids in brining innovation in context of enhancing sales effectively
and efficiently.
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REFERENCES
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Learning in the Hospitality Industry: A Literature Review.
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MANAGEMENT (TQM) FOR THE HOSPITALITY SECTOR. A CRITICAL REVIEW
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in the Tourism and Hospitality Industry: The Case of Seoul in South
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PERFORMANCE. SELECTED PAPERS DRAFT, p.119.
Rauch, E., Matt, D. T. and Linder, C., 2020. Lean management in hospitality: methods,
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IGI Global.
Stoeglehner, G., 2020. Strategicness–the core issue of environmental planning and assessment of
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Wahab, A., 2020. Developing a Leader Measurement Scale in the Hospitality Industry.
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