The Contemporary Hospitality Industry

This presentation discusses the external factors that can affect the hospitality industry, specifically focusing on the Hyatt Hotel. It covers political, economic, social, technological, environmental, and legal factors. It also includes a SWOT analysis of the hotel, the impact of external factors, and the implications of current trends in the industry. The presentation provides insights into how the business can develop its products to meet the current trends.

The Contemporary Hospitality
Industry

External factors in environment which can affect the
business
 Political factors- These are the factors such as government policies and Tax structure within the Asian
nations that can be impacted the bushiness of Hyatt hotel . Policies such as hygiene maintenance and
many more has several laws that ca be followed by the Hyatt hotel as if they needs to expand their
business they have to follow rules and pay taxes as per the rules implemented within Asian nations.
 Economic- Various nations of the Asia are still are developing nation and it can be a good opportunity
for the Hyatt hotel as within such nations the labor rates is very low as compare to the developed
nations as there labour rates are very high. So that Hyatt hotel can also invest their money in providing
training as well as development to their employees that aids them in future to achieve huge success
within all over Asia and also makes them to develop the good will of the firm.

CONT..
 Social factors- Every nations has its own trends and culture such as people within Asian countries
speak several languages , they also have various varieties of food and Nations like India have several
cultures people, within several language lived in one nation, but at the same time they have different
taste in food culture and more.
 Technological- Technology has a high impact within hospitality industry as Hyatt hotel uses the new
trends within their business so that they can easily creates opportunities within Asia.
 Hyatt hotel provide such as 24/7 internet to the people as people are feel more connected through
social media ,also if any consumer review hotels by taking picture and also write honest post as it is
bad or good both for hotel industry.
 So the mangers of the Hyatt hotel must be aware that consumers issues regarding hotel as any post
sometimes destroys the reputation of the firm.

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 Environmental- Guests within hotel stays for various reasons as for holiday, friends ,family
and many more. As guests wants to stay somewhere that is relaxing and warm.
 The weather within the local areas is also plays a major role for someone who choose to
stay within certified hotel. This is the thing that cannot be control by owners, but they
needs to understand the seasonal differences as well as pricing their rooms.
 Legal factors- Every hotel with beverages and food must follow truth- in menu laws that
means food means establishment should be truthful regarding beverages and food that can
be served to the guests,
 here the establishment require to be honest regarding calories in nutritional and good
ingredients of the dishes that can be prepared within Hyatt hotel.

Swot analysis
The aim of the swot analysis is to analysis the strength, weaknesses of the Hyatt Hotel as its
main goal is to examine the opportunities that the firm explore as well as Hyatt hotel keeps eye
on its threats.
 Strength
 Hyatt hotel has a very strong presence on the social media platform as it has millions of
followers such as on the Instagram, Facebook and Twitter. As Hyatt hotel have large
number of the costumer engagement accompanied by low consumer response.
 It is brand that has been within the market for years as well as people are aware as the
Hyatt hotel goodwill is in all over the market and also its brand awareness is high.
 The quality of the products have maintained as well as still valued by the consumers over
the years.

CONT..
 Weaknesses
 The Hyatt hotel has low level of the current assets as compares to existing liabilities as
well as also creates liquidity problems within operations.
 Hyatt hotel also faces lack of financial planning as they have facing the issues such as cash
flows as Hyatt hotel is not doing it effectively and properly.
 Require an investment within technology as they are utilising the old kind of technology.

CONT..
Opportunities
 Innovation is considered as a technology that makes Hyatt hotel to capable of taking
competitive advantages, so they must follow new technology that will also able their entry
within Asian Market.
 Technology comes with several benefits among various department as operational can be
automated that can be decrease cost as it enables a better data that can be collected on
several consumers and enhances the efforts of marketing.
Threats
 Competitors in industry is high as it creates a pressure on the Hyatt hotel .

Impact of external factors
 It can be created as an opportunity as these external factors make them successful.
Technology factors has a huge impact of the firm.
 It is vital for Hyatt hotel to look out for the new technology trends within market as it can
implement new technologies within their workplace as well as take advantages. Social
trends is also consider as a part of the external factors of Hyatt hotel Such as providing
consumers accommodation at an affordable price.
 Also factors such as policy changes impact on the services and product price of Hyatt
hotel. Also, economical factors such as reduce within tax rates are consider as an
advantages for the firm

Implications regarding current trends within firm to
accomplish success
There are several trends within the hospitality industry that can be beneficial for Hyatt hotel
take comparative advantages.
 Teach explosion
 The majority of the guest within hospitality industry are self-sufficient who are conferrable
that are used for the mobiles as well as websites. Hyatt hotel are also make sure that that
their offering for consumers are up to date as well as it must be user- friendly.
 At the same time business meeting, conferences and travellers are having a high tech
quality equipment as well as knowledge to the support the staff members. Hyatt hotel can
also add conferences hall for the guest where they can held their meeting ,their private
ceremony and many more.

CONT..
 Large number of the international visitors
 Hyatt hotel must capable of providing services in a multinational languages as well as
provides the unique requirements of the international consumers.
 Hotel must trained it some of the employees who can speak various languages so that they
can easily connect with their international clients and make them aware about the foods of
particular nations so Hyatt hotel's managers are aware about the choice of food of the
consumers.

Ability of the business to develop their products to meet the
current trends
 To fulfil the trends of Hyatt hotel , as they able to develop technology within their
workplace as well as New technology will aids them to give a better facilities to their
consumers and also makes their better experiences with Hyatt hotel international. Hyatt
hotel working on the international level as it is known as the one of the top hotel within the
hospitality industry.

CONT..
 Hyatt hotel international is expanding their business day by day within new markets, as
they are successful with proper business plan and strategy and also used to train the staff
members. The main reason of the success of Hyatt hotel is that they can recruit the
employees who are local area of that particular nation as it aids them to give services that
can satisfy the demands of the consumers.

REFERENCES
Books and journal
 Gandhi, P., Yadav, M. and Vivekanand, V., 2020. Food wastes from hospitality sector as versatile bioresources for
bio‑products: an overview. JOURNAL OF MATERIAL CYCLES AND WASTE MANAGEMENT.
 Susaeta, L., Babinger, F. and Muñoz, N., 2020. Influence of limiting beliefs in soft employability skills: An analysis
for the hospitality sector. Tourism: An International Interdisciplinary Journal, 68(2), pp.207-220.
 Karim, W. and Ulfy, M.A., 2020. The movement control order (mco) for covid-19 crisis and its impact on tourism
and hospitality sector in malaysia. International Tourism and Hopitality Yournal, 3(2), pp.1-7.
 Goh, E. and Okumus, F., 2020. Avoiding the hospitality workforce bubble: Strategies to attract and retain generation
Z talent in the hospitality workforce. Tourism Management Perspectives, 33, p.100603.
 Srivastava, S. and Pathak, D., 2020. The Role of Moderators in Linking Job Crafting to Organizational Citizenship
Behaviour: A Study on the Indian Hospitality Sector. Vision, 24(1), pp.101-112.

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