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The Contemporary Hospitality Industry

   

Added on  2020-10-05

7 Pages1814 Words287 Views
The ContemporaryHospitality Industry
The Contemporary Hospitality Industry_1
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1PESTLE Analysis of hospitality industry...................................................................................1SWOT Analysis of Milestone Hotel...........................................................................................2Current trends in hospitality industry..........................................................................................3Ability of the hotel chain to develop products and services to meet current trends...................4CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
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INTRODUCTIONHospitality industry is the one of the biggest industry which contributes in economicgrowth the country. It is the broad category of field in service industry. It considersaccommodation, lodging, travel and tourism, transportation, theme parks and more within thehospitality industry. The Milestone Hotel is the five start rating hotel in London, UK. It wasintroduced in 1884. This file will consider major task such as pestle and swot analysis ofhospitality industry, recent trends in hospitality industry and ability of hotel chain to develop theproducts to meet with trends(Kandampully, Zhang and Bilgihan, 2015). MAIN BODYPESTLE Analysis of hospitality industryThis analysis refers to the external factors which affect the organisation though differentsources-Political- Political factors consider the major point is political stability or instability.New political party comes with new policies and new rules and it makes impact on thehospitality industry as a whole. Whether it is political instability or terrorism, both make impactdirectly on the industry. Tourism industry is the main earner of foreign currency for UK. Thisindustry is backbone of government(Jones, Hillier and Comfort, 2016). Economical- Economic factors consider the factors such as tax rates, inflation, deflation,interest rates, economic growth etc. Economic change make significant impact on the hospitalityindustry. Wide number of people arriving for the purpose of conferences, meetings, seminars etc.They come with bringing lots of expectations with them from hotels. Foreign currency matters inthis factor. Social- Hospitality industry is based on social factors. Many customers' comes and gowith bringing demand from the hotels. Their taste and preferences make impact on the wholeindustry. If the hotels fulfil their needs and wants then they will come again in the hotel, all isabout fulfil of expectations.Technological- Technology is demanded by every people in the hospitality industry. Allthe new trends are related to the technological field and it makes heavily impact on the whole1
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