Contemporary Hospitality Industry Report: An Analysis of The Ned Hotel

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Added on  2022/11/25

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This report offers a comprehensive analysis of The Ned Hotel within the contemporary hospitality industry. It begins with an introduction to the hospitality sector and the significance of luxury, pleasure, and experiences. The report then delves into a PESTLE analysis, examining political, economic, social, technological, legal, and environmental factors impacting the hotel. Following this, a SWOT analysis evaluates the hotel's strengths, weaknesses, opportunities, and threats. The report further explores the impact of external factors, particularly the COVID-19 pandemic, on the hotel's operations and revenue. It also discusses current trends like technological advancements and environmental sustainability, and assesses the hotel's ability to develop services and products in response to these trends. The report concludes by emphasizing the importance of continuous evaluation of both internal and external factors for success in the competitive hospitality industry, referencing the impact of current issues and future developments. It includes relevant references to support the analysis.
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Contemporary Hospitality
Industry
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2
Introduction
PESTEL analysis
SWOT analysis
Impact of external factors
Implication of current trends and potentials.
Ability of Hotel for the development of services and products
Impact of External Factors on Potential and Current Trends
Conclusion
References
Table of content
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The hospitality sector encompasses a wide range of companies and services related to
relaxation and consumer pleasure. A distinguishing feature of the hotel business is that it concentrates on
concepts of luxury, pleasure, enjoyment, and experiences rather than requirements and specifications.
This is essential for the expansion of the sector, as well as contributing significantly to economy and
employing a huge number of employment opportunities. This not only improves its purchasing power,
but this also raises folk's level of lifestyle. It also draws tourists and is important for the tourism sector.
The Ned is taken as the base hotel for this report. The Ned is considered as luxury hotel which comprises
of 252 bedrooms with 1920s and 1930s design. This hotel was established in 1924 by Sir Edwyn
Lutyens.
3
INTRODUCTION
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4
PESTLE
Analysis
PESTLE analysis is a framework used by companies to
evaluate and track macro-environmental elements that affect them.
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The Digital Economy Legislation 2010 is a government act that was enacted primarily
to reduce the level of unauthorized sharing files and copyright violations that occur in today ’s
digital era. This might put hotel in a position since they would had to determine which one to charge
for the comfort of internet access, which might turn off prospective customers. The United Kingdom
has left the European Union, that will also limit the number of tourists to the United Kingdom,
lowering hotel earnings in the United Kingdom. Also, the current trade conflict among several
nations will have an influence on hotel activities and revenue. Lockdowns enforced by several
nations have also had a significant impact on the hotel business, which is now going through a
difficult period. However, various nations are increasingly loosening these restrictions, allowing the
hotel sector to flourish and boost its earnings.
5
Political factors
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6
Economic factors
A stable economic climate is critical for the expansion of this type of firm. As a
result of COVID-19, several nations have exceptionally cheap interest rates to entice diverse
investors to invest in the nation. Loans are now accessible at much lower interest rates than in
the past. As a result of the low cost of financing, this may be an excellent moment for hotel to
grow and diversify their operations. Furthermore, most nations are experiencing a slowdown
as a result of a countrywide lockdown, thus production levels in many countries throughout
the world are rather low. The outbreak has had a significant impact on the operations of many
enterprises, and as a result, people have less money to spend on different leisure activities,
which is obviously not a favourable aspect for the hotel.
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Social factors
People who have COVID-19 are afraid of communicating with others and
preferring to remain at home. They skip a variety of social events, which is a source of
worry for the Ned hotel. As a hotel, it has little influence over societal issues, therefore
it can only hope that things will improve in the future. Hotel finance is influenced by a
variety of social variables such as consumer behavior, demography, population size,
culture, gender balance, and so on. Folk's shopping habits alter as their income
increases. As a result, their desire to invest money on recreational activities rises, which
is excellent for businesses. Furthermore, as individuals 's lifestyles improve throughout
the world, this is a very promising indicator for hostel profitability in the coming years.
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Technological factors
The hotel must update its technology as needed to
improve the value proposition it provides to its clients. Adopting
technology that changes the business is critical as this could help a
firm save expenses while also improving customer experience. Hotel
must welcome all forms of payment, which is critical in today's
digitalized society.
.
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9
Legal factors
The country's laws and regulations have a significant impact on the
functioning of the hotel. Employee regulations, consumer laws, and some other regulatory
structures must be observed by the hotel in order to avoid governmental and other NGOs
intervening in the business's activities. Legal and political considerations are tightly
intertwined. Several regulations were also established by governments throughout the
world to address the problem of COVID-19, such as maintaining social distance between
individuals and sanitising hotel rooms to prevent the disease from spreading. These factors
have raised the hotel's operating costs and will undoubtedly have an impact on the
business’s revenue.
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10
Environmental factors
Hotels could adopt a variety of actions to help save the
world's ecology. This would also assist corporations in preventing the
interference of numerous NGOs and governments in company
operations. To fulfil its different stakeholders, the hotel must
thoroughly examine environmental aspects.
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11
SWOT
Analysis
SWOT analysis is a basic but strong model for utilising an
organisation 's strengths addressing weaknesses, reducing threats, and
capitalising on opportunities to the maximum extent feasible.
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Strength
The hotel is a luxurious hotel that will require a large
number of personnel to manage different actions since such hotels
and restaurants are large and have numerous divisions They recruit a
wide range of employees, including security guards, cooks, waiters,
and phone operators, as well as HR managers, executives, and CEOs.
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