Waterside Inn: Innovation in Hospitality with Contactless Service

This report analyzes innovation within the hospitality industry, specifically focusing on the implementation of a body temperature control room as an innovative concept. It includes market research, highlighting the target demographic of high-income groups and their expectations for digitization and contactless service. A competitive analysis identifies major players like Prime Vacation Rentals and Pagosa Realty Rentals LLT. A SWOT analysis examines the strengths, weaknesses, opportunities, and threats associated with the innovation, concluding that it offers Waterside Inn a significant opportunity for differentiation and competitive advantage. The report outlines the implementation strategy, covering product features, premium pricing, online and direct sales channels, and promotional strategies using social media and advertisements. Ultimately, the innovative service is presented as a valuable invention poised to offer various benefits and opportunities to the company. Desklib provides a platform to access such solved assignments and past papers.

INNOVATION IN
HOSPITALITY

Table of Contents
Introduction
Innovative concept:
Market research
Conclusion
Implementation
Summary
References:

Introduction
 The changes and improvements in the systems, products and
procedures
 Help to transform and grow

P5: Innovative concept:
 Body temperature control room

Market Research
Industry and market environment
Market Demographics- High income groups
Market trends- Digitization and Contact less
tests
Marketing channels- Direct sales, Online sales
Financial returns
Sale- 30,000 in the first 4 months
Profit- 5,00,0000$.
Customers
Customer expectations- high
Target market- Premium customer segment
Competitors
Major competitors-Prime vacation rentals and
Pagosa Realty Rentals LLT
Pricing structure- Premium pricing
Promotion- Discount coupons

Swot analysis
 Contact less service
 Competitive advantage
 No touch display
Strengths

Weaknesses:
 Huge costs of research and development
 Highly expert employee force

Opportunities
 Differentiation
 High market demand
 High customer expectation

Threats
 Additional costs of implementation and
high costs of suppliers
 Competition
 Limited target customer base

Conclusion
 It is an opportunity for Waterside Inn to leverage differentiation.
 It can provide huge benefits and competitive edge to the company.

Implementation
 Product: Key features and advantages which the consumers want including the quality. The users have to book
the service in advance to use it through the official website of the company or through, manual booking from
hotel.
 Price: Premium pricing, the company will identify how much the customers will be willing to pay, its profit
margin methods, other costs and mark up to cater overhead.
 Place: Online sales and direct sales, the rooms of the hotels where the service will be available will need
effective Wi-Fi connection in its operational systems.
 Promotion: Social media and advertisements on boards and hoardings, the promotional strategies are feasible
as most of the people today are on internet and boards and hoardings are easy attention seeking methods.

Summary
 Contact less services are new market trend
 The innovative service is an invention
 It will offer various benefits and opportunities to the company