The Contemporary Hospitality Industry

The Contemporary
Hospitality Industry

Table of Content
• Introduction
• Access the external factors that impact the development
• SWOT analysis
• Current and potential trends
• Conclusion
• References

The most flourishing industry in the world and highest revenue generator is “HOSPITALITY INDUSTRY”.
Economy of several countries is supported and surviving through hospitality businesses and service providers. In UK
around and approximately 180,000 hospitality businesses are running smoothly concluding that hospitality is an
independent sector. Sheraton Grand London Park Lane is been considered for this project which was opened in 1927
as The Park Lane Hotel designed in Art Deco style and bought by IIT Sheraton in 1996. Now it is managed by
Sheraton Group and owned by Sir Richard Sutton's Settled Estates.
Internal and external factors are reviewed which impacts the business and operations in hospitality organisation and
their relationship with current problems occurring in hospitality industry. At the end of the report current and
potential trends in hospitality sector affecting its development are evaluated.
Introduction

Macro Environmental analysis is basically understanding and identifying the impacts external surrounded factors have over
business. In relation to which PESTLE framework is used, providing appropriate knowledge about the external
environment existing in the industry and affecting either positively or negatively to Sheraton Grand London Park Lane
hotel.
 Political environment is an area that is important for businesses to evaluate and monitor on regular basis as the
government holds the power of influencing operations and internal policies of entities. Currently the political factors
which can impact Sheraton Grand London Park Lane hotel and the whole hospitality industry in UK, are BREXIT deal
and new immigration policy developed. These factors have caused concerns for hotels as the issue of skills shortages is
being neglected due to it.
Access the external factors that impact the development