The Contemporary Hospitality Industry: P6, P7, P8 Report

This report provides an in-depth analysis of the contemporary hospitality industry, focusing on key aspects such as the amalgamation of various businesses, including event organizing, housing, travel & tourism, and transport. It highlights the industry's multibillion-dollar market and its rapid growth. The report utilizes PESTEL analysis to examine political, economic, social, technological, environmental, and legal factors impacting businesses like Radisson Blu. It also includes a SWOT analysis, identifying strengths, weaknesses, opportunities, and threats. The implications of current trends, such as globalization, are discussed, emphasizing their impact on the industry's operations, technology, and business relationships. The report concludes that the hospitality industry offers significant growth potential and underscores the importance of providing quality services to customers. References to relevant academic research are also included.

The Contemporary Hospitality
Industry
P6, P7 And P8

Introduction
 Hospitality industry applies to the amalgamation of various businesses
such as event organizing, housing, travel & tourism, transport, etc.
 It is a multibillion dollar industry market focused on the mobility of
disposable income and leisure time. The industry in the market is really
quickly growing

PESTEL Analysis
 In order to define different types of environmental factors along with its
impact Radisson Blu can use the PESTEL analysis model by which
they can make their business venture effective and influence through
the environmental factors in both positive and negative manner.
 There are different types of factors in context of respective firm are
mentioned below:

Political factor
 Purpose: The focus of this organization is to earn profits by
providing the goods and services to the target customer in the market
place.
 Nature: In the context of the Radisson Blu, the nature of the
organization is good as it always uses various type of strategies and
tools to attract the customer loyalty towards the organization goods
and services.

Economic factor
 This factor includes employment and unemployment, interest rates,
exchange rates, raw material costs along with foreign exchange rates
and so on. As per this, Radisson Blu has influenced exchange rates
within the economic crises so that they develop few strategies to
maintain their inflation rate best to achieve targeted goals.

Social factor
 According to this factor, there are different types of elements such as
education levels, changes in demographic behaviour, changes in
attitude, cultural trend along with changes in lifestyle. In context of
Radisson blu, as it is famous brand of UK so that people of UK are
material stick and always stuck on this brand of hotel as it gives
luxurious services to their customers. Thus, it increases productivity of
firm.

Technological factor
 According to this respective firm is able to make their infrastructure
better that develops positive impact on their customers and affect every
hotel industry within the potential market.

Environmental factor
 Within the current period of time, respective firm is able to develop best
tools to keep their services safe within so many kind of places in order
to make their services better.

Legal factor
 There are several rules, laws and regulations followed by respective
firm in order to run their business successfully so that they can achieve
their targeted goals on time.

SWOT analysis
Strength Weakness
 The main strength of this hotel is to that they have
wide network as they having effective global
presence within the 73 countries globally.
 Another strength of this firm is that it is best group
of hotel chain along with have unique brand
identity with providing high qualitative services.
 Major weakness of this firm that planning to
expand in to more areas will be developing
leadership change and this change will bring huge
expenses for firm.
 The cost of promotion of this firm is also high that
create challenge for cost management of frim.
Opportunities Threats
 Changing within the marketing trend always gives
benefits to this hospitality business by which they
can develop lower cost for its customers that make
important value chain for this hotel and increase
their presence globally.
This brand is famous across the globe so that there are
large number of competitors that influence this firm such
as Wyndham worldwide, Starwood hotels, Hilton and
many more.

Implications of potential and current
trends
 Globalization is one of the main factors that plays important role within
the firm and required to understand overall concept through an
organization. With the help of this firm are able to achieve so many
modifications within its working environment like, technologies, raw
materials, business relationship within the nation.

Conclusion
 According to the above mentioned report it has been analyzed that
hospitality industry is one of the best approach of business sector to
reach successful growth at high level. With the help of this every firm
can operate their entire working operations and functions and provide
best services to their customers like qualitative food, accommodations,
transportation services and many more.