(solution) The Contemporary Hospitality Industry
10 Pages1972 Words350 Views
Added on 2020-12-09
(solution) The Contemporary Hospitality Industry
Added on 2020-12-09
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The ContemporaryHospitality Industry
Table of ContentsINTORDUCTION...........................................................................................................................3TASK1 ...........................................................................................................................................3P6. PESTEL analysis within hospitality industry.......................................................................3P7. SWOT analysis within hospitality industry and review how this can inform decisionmaking process............................................................................................................................5TASK2.............................................................................................................................................6P8. Implications of current and potential trends in hospitality industry.....................................6CONCLUSION ..............................................................................................................................7REFRENCES...................................................................................................................................8
INTORDUCTIONHospitality industry is a very broad industry which provides food and accommodationfacilities to the customers. This report will address wide range of contemporary issues inhospitality industry. Organisation undertaken in this report is Holiday inn which was founded in1952 and provides hotel facilities to the customers and it is spread all over the world. This reportwill explain internal and external factors that impact the hospitality industry and their relationwith current trends and issues. Furthermore, report will elucidate the current and potential trendsand developments affecting the hospitality industry.TASK1 P6. PESTEL analysis within hospitality industry.Everyday business market changes with changes in the external environment. As externalenvironment factor are uncontrollable by the management of the organisation, so effectivePESTEL analysis is needed to conduct within an organisation. This analysis is a tool used byHoliday inn to detect, evaluate, organise and track macro economic factors which can affect theirbusiness in hospitality industry (Ozturk, 2016). Following is the PESTEL analysis of Holiday innin UK is discussed below :-Political factors : It plays a very significant role in defining the factors that can affectHoliday inn. This hotel is operating in numerous countries and exposes itself to various differentpolitical factors and risk. Points which are to be analysed for Holiday inn are political steadinessand value of living accommodation sector in UK, danger of military intrusion, intellectualproperty protection, taxation policies like tax rates and incentives, etc.Economic factors : These factors affect the financial position and profitability ofHoliday inn. They are needed to be evaluated and analysed in detail and it includes factors suchas type of economic system in UK is stable or not, government intervention, inflation anddeflation rates, growth rate, exchange rates, etc.Social factors : Social cultures and way of performing business operations of Holidayinn affects the organisations environment (Radojevic, Stanisic and Stanic, 2015). Social changesin lifestyles and living standard of the people has bought many changes in the working ofHoliday inn. They focuses on customer satisfaction and continually revitalising the business
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