Impact of External Factors on the Hospitality Industry: Hotel Shankly

This report offers a comprehensive analysis of the contemporary hospitality industry, with a specific focus on Hotel Shankly. It begins with an introduction to the industry's significance in the UK economy, emphasizing its contribution to employment and revenue generation. The main body of the report delves into various external factors affecting the industry's development, including political, economic, social, technological, legislative, and environmental influences. A SWOT analysis of Hotel Shankly is presented, along with a review of its decision-making processes. Furthermore, the report evaluates the impacts of external factors on Hotel Shankly's operations and explores current and potential trends within the industry, such as catering to millennials and the tech explosion. The report also assesses Hotel Shankly's ability to develop products and services to meet current needs and critically evaluates how external factors impact industry trends and development, concluding with a summary of the key findings and references.

THE CONTEMPORARY
HOSPITALITY INDUSTRY

Table of Contents
INTRODUCTION
MAIN BODY
An assessment of the political, economic, social, technological and legislative environmental factor that affects the development or organizations in hospitality industry
An example of swot analysis of hospitality business of hotel Shankly and review decision making process
An evaluation of the impacts of external factor of the development of hotel Shankly operating within the hospitality industry
An implication of current and potential trends in the hospitality industry
An evaluation of the ability of hotel Shankly to develop products and services to meet current needs
A critical evaluation of how external factors impact on current potential trends and development of industry
CONCLUSION
REFERENCES

INTRODUCTION
◦ The hospitality industry is one of the most revenue generator of for development of economies of
various industry. This is really important element for travel and tourism sector. However, the
hospitality industry in itself a crucial independent industry

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◦ This will be understood by the fact that in UK there are approximately 180,000 of hospitality and leisure of
establishment which provides employment more than 2 million peoples of UK. The Hospitality industry, is must
include pubs, restaurant, food, lodging, in terms of economy also, the hospitality industry having the major
contribution in raising the economy of UK industry.

The political, economic, social, technological and legislative
environmental factor that affects the development of organizations
◦ The assessment of political, economic, social technological factors that effects the development is as follows-
◦ Political factor- The government has the strong hold on industry for instance of the political party sets for banned
the travelling. This can be hurtful for tourism as well as hotel industry immediately. All these takes are related to one
decision as well as country can loses its vast majority in relation of their economy. The government is focused to
control the taxes reforms in which the hotel owners can pay the lower taxes.

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◦ Economic factor- The company strength and weakness can boost the affect and attractiveness of the
vacation spot as for example- if the international currency is stronger than any of the dollar that people will
use outside of their country.

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◦ Sociocultural factor- hotels will run during their peaks seasons because everyone is finding the hotels that
would be the only options for finding something suitable and also, they are related from their culture.so, this
is the huge problem for hotels during the peaks sons when the rooms are getting scarce.

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◦ Technological factor – sometime before every hotel is using the traditional media but now a days hotels are
using new media from the internet to consider the social media like Facebook and various mobile app that
are the most important tool used by the Shankly hotel owner

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◦ Legal factor- every customer wants to stay safe on social media as well as hotels owner wants innkeepers’ laws which
make sure the welfare and safety of guest as well as their properties.

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◦ Environmental factor- this is related from the hotel guest for the variety or reason such as when family is visiting
with their family and friends. The weather of local area is the deciding factor for whether someone chooses to stay
within the hotel. This is not something can hotel owner can control

An example of swot analysis of hospitality business of hotel
Shankly and review decision making process
◦ Determine the hotel objectives- The swot analysis is working well when the hotel is considering the change
and will need to know the value of time and what amount of money is required. Within the hotel industry,
swot analysis can used for the strategic initiatives like opening the new property and will be consider the
refurbishment or rebranding of hotel. This can also use for the decision-making process of industry

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◦ Critically examine the metrices and results- before the beginning of mapping the strengths, weakness and
opportunities and threats needs to be gather all the information about the hotel Shankly and provides the
metrices of hotel industry