Contemporary Hospitality Business: Environmental & Trend Analysis

This presentation provides a comprehensive analysis of the contemporary hospitality business environment. It employs PESTEL analysis to evaluate macro-environmental factors such as political, economic, social, technological, environmental, and legal influences on the industry, highlighting the im...Read More

PART 2
THE CONTEMPORARY
HOSPITALITY BUSINESS

TABLE OF CONTENTS
• INTRODUCTION
• PESTEL ANALYSIS OF COMPANIES OPERATING WITHIN HOSPITALITY INDUSTRY
• SWOT ANALYSIS FOR HOSPITALITY BUSINESS
• APPRAISAL OF CURRENT AND POTENTIAL TRENDS IN HOSPITALITY INDUSTRY WITH
EXAMPLES
• CONCLUSION

INTRODUCTION
• Hospitality industry is a fastest growing industry and offers variety of services, such as accommodation,
travel, food, event planning, entertainment and other services.
• This PPT will discuss the macro environment factors with the help of PESTEL analysis and micro
environment factors with the help of SWOT analysis within the hospitality industry.

PESTEL ANALYSIS OF COMPANIES OPERATING
WITHIN HOSPITALITY INDUSTRY
PESTEL analysis is a technique which helps in understanding the macro environment and factors which can
influence the business.
• Political factors- In areas where there is political instability, the hotel business suffers. Aside from that, open
borders and a favorable political culture help the hotel industry develop.
• Economic factors- Recessions, inflation, and other economic factors have a considerable impact on people's
ability to afford luxury hotels. However, as the global economy grows, more people will be able to travel and
use the hotel business.

CONTD.
• Social factors- A significant urge to travel has been proven by the current generation. Social media sites,
which allow people to share their travel experiences and thus create peer pressure to travel, intensify this
trend.
• Technological factors- In past few years, hotels have become more technologically advanced. Almost all of
them have security cameras and other amenities to make visitors' stays more enjoyable. Wifi, elevators, and
intercoms are just a few of the modern conveniences that each hotel offers.

CONTD.
• Environmental factors- Governments and environmental activists are putting a lot of pressure on hotels to
decrease their carbon footprint as much as possible. Since this uses a large number of waste objects, this
industry may pose considerable environmental risks.
• Legal factors- The legal culture of a country has a significant impact on the growth of the hotel industry.
Anti-discrimination law now exists in almost every country, which has benefited the travel economy and, by
consequence, the hotel business.

SWOT ANALYSIS FOR HOSPITALITY
BUSINESS
• SWOT analysis is a technique which helps in understanding the strengths, weakness, opportunities and
threats which can be faced by a business within their environment. The SWOT analysis in for the hospitality
business in discussed below:
STRENGTHS
• Incline in employment opportunity
• Contributes to economy
WEAKNESS
• High tax rates
OPPORTUNITIES
• Local and international tourists
• Online booking
THREATS
• Change in travel patterns

APPRAISAL OF CURRENT AND POTENTIAL
TRENDS IN HOSPITALITY INDUSTRY
Hospitality industry is rapidly changing and developing and this has driven various
trends in the hospitality industry. Some of the current and potential trends in
hospitality industry are discussed below:
• Contactless payments- This potential trend has made contactless payments
which can be helpful in maintaining safety and this trend can be helpful in
avoiding contact with the customers and with the representative and offers quick
money transfer.

CONTD.
• Voice search and voice control- Voice control can also be
used in hotel rooms to control devices, enhancing the overall
guest experience.
• AI/ Robots in hotels and restaurants- Automation is one of
the most important developments to be aware of in the
hospitality industry. Robots have been used in hotels to
provide room service, clean, and do other housekeeping jobs.
Meanwhile, restaurants may be able to use robots to do certain
food-service chores.

CONCLUSION
• From the above PPT, it can be summarized that hospitality industry is developing day by day and is
contributing to economic development.
• The hospitality industry has been following many current ad potential trends which can be helpful in
enhancing the performance and business profitability.

REFERENCES
Online
• Pestel analysis, 2019 [Online]. Available through <
https://www.marketingtutor.net/pestle-analysis-of-the-hotel-industry/>
• Swot analysis of hotel industry, 2020 [Online]. Available through <
https://www.marketingtutor.net/swot-analysis-of-the-hotel-industry/>
• SWOT analysis, 2021 [Online]. Available through <https://www.soegjobs.com/swot-analysis-hotel-industry/>
• Hospitality trends, 2019 [Online]. Available through <https://www.revfine.com/hospitality-trends/>

Thank You