Analysis of Ritz London and Contemporary Hospitality Industry Trends

This report offers a comprehensive analysis of Ritz London within the contemporary hospitality industry. It begins with an introduction to the hospitality sector, emphasizing its service-oriented nature and importance. The main body of the report delves into both the internal and external environments affecting the organization. External factors are evaluated using the PESTLE framework, examining political, economic, social, technological, environmental, and legal influences on Ritz London's development. Internal factors are assessed through a SWOT analysis, identifying strengths, weaknesses, opportunities, and threats. The report further evaluates the impact of external factors like globalization and economic trends, and discusses the implications of current and potential trends, such as solo travel and contactless technology, within the industry. The report concludes by summarizing the key findings and emphasizing the interplay of internal and external factors in shaping business development within the hospitality sector. References from various academic sources are provided to support the analysis.

Contemporary
Hospitality
Industry

Table of Content
• INTRODUCTION
• MAIN BODY
• CONCLUSION
• REFERENCES

Introduction
Hospitality sector refers to service providing sector which
includes accommodation, travelling and tourism, event planning,
transportation etc. It is a big project business which is based on
accessibility of time and income. It is highly developing industry within
market. In this report, there is discussion about internal and external
environment analysis of the organization.

Environmental factors affecting organizational development within
hospitality industry. For determining environmental factor which having
impact over development of Ritz London. To analyse the environmental
factors, there is a framework which is highly able to evaluate and
analyse the environmental external factor.
Environmental factor

PESTLE analysis
PESTLE analysis is the framework
which is able to analyse the external
environment of the organization.
PESTLE includes political,
economical, social, environmental,
technological and legal factors.
These all factors are going to be
discussed further for providing
enough information which is able to
impact the business organization
from development.

Political
This is one of the main factor which is able to influence the
development of organization within hospitality sector. This includes political
involvement, political stability, different laws and regulation on current basis,
future legislation, import and export duties, International pressure groups etc.
Through these included factor are highly able to influence the development of
an organization within hospitality industry. This is able to highly impact the
develeopment of business. This impact the overall business of the organization
within hospitality industry. This have directly impact on the tourist which is
due to change in laws and regulations and future legislation. Due to instability
of political environment create a highly difficult to an organization to develop.
This create instability in the political environment and create a decrease
business and decrease development of the organization.

Economical factor
In this analysis, this is the factor which includes economic trends,
recesation, general taxation, minimum wages and interest and
exchange rates. It can highly associated with economy of the country.
When any country economy is good, it can provide enough opportunity
for the organization to develop under hospitality sector. This is the one
which is directly impact in the business organization to develop and Ritz
London is directly impacted due to this economic factor. This is the one
which provide opportunity for the development within organization.

Social factor
This is the factor which is able to analyse the social environment
of the country that can directly impact the development of organization
within hospitality sector. This factor includes media views, demographic
change, Lifestyle Trends, ethical factors, advertising and publicity,
health consciousness, customer attitude and opinion towards the
hospitality factors and many more. This provide the opportunity for Ritz
London for development of the organization in effective manner.

Technological factors
This is the factor which can directly impact the development of
organization. Technology have the higher role in increasing demand of
hospitality sector. This is the one through which different work has
been done within the organization. There is use of different advanced
technology like payment method, ordering system and different other
applications which can highly applicable for the development of the
organization. Technology factors includes POS systems, Computer
technology development, licensing. technology access, global
Communications etc.

Environmental factor
In this present time, people get attracted towards the environment
due to which environmental factor plays an important role in the
development of business within a hospitality sector. Environmental factor
includes food packaging, wasting of foods, exhaust fumes, sustainable
Sourcing and governmental policies and climate change. These are the
factor which comes under environmental factor which directly impact
the environment and can help in better development of the organization
within hospitality sector. People get attracted due to effective handling of
environment by the organization and like to visit and consume their
services which increases profitability of the organization.

Legal factor
Legal factor plays an important role and directly able to influence
the hospitality sector. This is the one through which there can change in
different laws and regulations which can impact the business
organization within hospitality sector. This includes employment lawsm
Consumer Protection law, discrimination law, food and safety acts,
automatic pavement, health and safety at workplace. These are some
of the laws which need to be organization. Ritz London follows these
laws and is able to attract a large number of customer base due to trust
and help to development of the organization within the hospitality
sector.

SWOT ANALYSIS
SWOT analysis is a
Framework for analyzing
organizational strength,
opportunity, weakness, and
threats. This is the one which is
able to analyse internal
environment of the organization.

Strength
• Effective location- Ritz London is having presence on the right location
where mostly visitors like to visit. This is one of the right place in
London. This is the luxury accommodation hotel which is a preferred
location. Due to this, it attracts large number of customer base to
consume different services through decision making.
• Employee quality- Ritz London focuses on serving effectively to the
customers. This influence them to hire and train their employee with
effective quality to behave with their customers. This is highly
preferred by customer and influence their decision making process.

Conti....
• Guest feedback- This is the one through which Ritz hotel ask for
feedback from their guest and put them on the social platform which
highly influence other visitors to make their disease and accordingly.

Weaknesses
• Fluctuating demand- Customers demands varies according to their
different ethnicity and regions. This needs to be fulfilled by the
organization. These demands can impact on the decision making of
consumers and influence them to visit again and again.
• Sustaining brand image- Ritz Hotel is not able to provide and maintain
every demand which is necessary for providing at that location. Such
like free Wi-Fi, comfortable sleeping etc. This directly impact the
decision making process of the consumer and impact over visiting
again.

Opportunities
• Growing preference for luxury- Ritz London have the opportunity to
enhance their luxury preference and fulfill the demand of their
customer. This can directly attract large customer base and influence
the customer to visit again. This create directly impact on decision
making process of customers.

Threat
• Competition- There are different organization within hospitality sector
who are able to provide similar type of a commodity and preferences.
This can create a difficulty for Ritz hotel which can impact the
development of the organization negatively.

Evaluation of the impacts of external factors
on the development
There is an evaluation of the impact of external factors like
globalization, economy which plays an important role in development
of the organization within hospitality industry. Globalization plays an
important role in hospitality industry. This is the one which can
influence the decision making process of customers and should needed
to be undertaken properly. This is the one which is related with the
accessibility of Technology, raw materials and business relationship
within different nations.

Implications of current and potential trends
Solo travelling, digitalizing guest experiences and contactless
technology is the current and potential trend within hospitality
industry. This is currently are in high demand within the hospitality
industry which can attract large number of customer base towards to
avail these services of using this technology and experience for their
life. Solo travelling is current trend which influence large customer
base. Visitors like to experience these services in the hospitality sector
which can lead to create high business.

An appraisal of the implications of current
and potential trends
Ritz hotel is able to use latest technology which is able to provide
fulfill the demand of digitalizing guest experience and contactless
technology which are generally used within hotel premises for the
guest. Through this, Ritz hotel is able to fulfill the providing services to
meet current trend. Solo travelling plays an important role for the
customer to travel different places and avail the hospitality services
within this current time. This is highly able to development of the
product and Services within Ritz hotel which can meet the current
trend and fulfilled their customers demand in effective way.

A critical evaluation of how external factors
impact on current and potential trends and
developments in the hospitality industry
Technological factors that directly impact on the current trend by
use of different technology within the hospitality industry and hotel
premises. Contactless entry and exit is one of the example of the
technology which is generally used in the premises of hotel and helpful in
providing unique experience for customers. With the help of technology
which plays an important role and use of latest technology can attract
large number of customer base and provide a unique experience for their
customers while experience different hospitality Services.

Conclusion
From above discussion, it can be concluded that there is impact
of internal and external environment on the business development
within hospitality industry. In this report, there is discussion about
SWOT analysis and PESTLE analysis for analyzing the internal and
external environment of the organization. There is also discussion
about evaluation of impact and implication of current and potential
trend in hospitality industry.

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Conti.....
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